HomeMy WebLinkAboutVII (D) Discussion re Parks and Recreation Bond Issue Agenda I 1-19-2002
center of Good Item VII D
�Mayor .Sbe _ Commissioners
S. Scott Vandergrift . . Danny Howell, District 1
,ap Scott Anderson, District 2
City Manager A ') � Rusty Johnson, District 3
Jim Gleason � ,�'�-1�� T Nancy J. Parker, District 4
STAFF REPORT
TO: The Honorable Mayor and City Commissioners
FROM: Johnny Farmer, Parks and Recreation Director
DATE: November 11, 2002
RE: Parks and Recreation Bond Issue
ISSUE
Discussion of a General Obligation Bond Issue for Parks and Recreation Facilities.
BACKGROUND/DISCUSSION
As requested by the City Commission at it's November 5, 2002 Commission Meeting, attached,
please find a possible listing of Parks and Recreation Facilities that can be developed with the
General Obligation Bond Issue. The items on this list come from information obtained from the
Parks and Recreation Open Space Master Plan, the Parks and Recreation Impact Fee Study, and
the Master Plan for the Lakefront and Downtown.
Also attached, please find preliminary numbers from the Finance Department, indicating what a
homeowner would pay in additional City taxes for this Bond Issue.
RECOMMENDATION
Staff is asking for the City Commission to review this information, and provide input and direction
on this issue.
Cc: Jim Gleason, City Manager
Wanda Horton, Finance Director
The City of Ocoee• 150 N Lakeshore Drive•(knee, Florida 34761
phone: (407)905-3100•fax:(407)656-8504•www.ci.ococc.fl.us
Increase in millage:
current 0.5000 1.0000 1.2500 1.5000
4.5789 5.0789 5.5789 5.8289 6.0789
$50,000.00 $228.95 $253.95 $278.95 $291.45 $303.95
$75,000.00 $343.42 $380.92 $418.42 $437.17 $455.92
$100,000.00 $457.89 $507.89 $557.89 $582.89 $607.89
$125,000.00 $572.36 $634.86 $697.36 $728.61 $759.86
$150,000.00 $686.84 $761.84 $836.84 $874.34 $911.84
$175,000.00 $801.31 $888.81 $976.31 $1,020.06 $1,063.81
$200,000.00 $915.78 $1,015.78 $1,115.78 $1,165.78 $1,215.78
Dollar increase:
0.5000 1.0000 1.2500 1.5000
$50,000.00 $- $25.00 $50.00 $62.50 $75.00
$75,000.00 $- $37.50 $75.00 $93.75 $112.50
$100,000.00 $- $50.00 $100.00 $125.00 $150.00
$125,000.00 $- $62.50 $125.00 $156.25 $187.50
$150,000.00 $- $75.00 $150.00 $187.50 $225.00
$175,000.00 $- $87.50 $175.00 $218.75 $262.50
$200,000.00 $- $100.00 $200.00 $250.00 $300.00
Note:value of a
home after$25,000
homestead
exemption.
0e41t6 of Good /
Mayor (Sh O�Od, Commissioners
S. Scott \andernri❑ ,�„ ,,+�., -� Danny I lowell, District I
OCORScott Anderson.
District3
lricl 2
City NI Inager Kull) Johnson. District
hint (Unison ` it; Name I. Parker. Ihsl ticl4
CITY OF OCOEE
PROPOSED GOB BOND ISSUE
PROJECT LISTING
PARKS AND RECREATION IMPROVEMENTS
1. DEVELOPMENT OF THE PARK AT THE COKE PROPERTY $4,500,000.00
2. LAND PURCHASE/DEVELOMENT OF SOFTBALL COMPLEX $2,500,000.00
3. HACKNEY PAIRIE PARK DEVELOPMENT $1,250,000.00
4. VETERANS/SENIOR CENTER—COMMUNITY CENTER $1,500,000.00
5. RETROFIT VIGNETTI PARK INTO YOUTH COMPLEX $1,500,000.00
6. OLYMPIC SIZE POOL AT BEECH CENTER $1,200,000.00
7. CULTURAL ARTS FACILITY(12,000 SQUARE FEET) $2,000,000.00
8. UPGRADE ATHLETIC LIGHING AT EXISTING PARKS $500,000.00
9. RENOVATE TENNIS COURTS, RESTROOMS, AND $500,000.00
AT CONCESSION FACILITIES AT EXISTING PARKS
10. COMMUNITY CENTER AT FREEDOM PARK AND INSTALL $750,000.00
LIGHTS ON MULTI-PURPOSE FIELDS
11. MULTI-PURPOSE TRAILS TO WEST ORANGE TRAIL $1,000,000.00
(BEECH CENTER, LAKE SIMS, COKE PROPERTY)
12. BEECH CENTER PHASE II $2,000,000.00
13. ADDITIONAL LAND PURCHASE (40 ACRES) 800,000.00
TOTAL $20,000,000.00
Cit' or Ococe• I i0 N I.uk shore Dm c• (Noce. I Iorthil I-DP I
phone L407 9O5-PI(to• 1,1y (707)ojo-N>04 • otttc.Cl Ocoee.11 u,
seater of Good L
itz
Vlwwnr �h __ Commissioners
S Scoll Vandetgri(t " Dennc Rowell, Disl rirt 1
Scot, Anderson. Untrirt 2
Manage' ) Rush Johnson, District
Jim Gleasuu e .;7 Nam, J. Parker. Dislrirl 4
City of Ocoee
Proposed GOB Bond Issue
Funding Options
Annual
Issue Size Debt Service Increase in Millaze
$20,000,000 $1,600,000 1.50 mils
$15,000,000 $1,200,000 1.25 mils
$13,000,000 $1,056,000 1.00 mils
$ 6,500,000 $ 528,000 .50 mils
The estimates above are based upon a typical twenty-year financing.
The current millage rate is 4.5789.
The impact to a homeowner based upon a home valued at $150,000 with $25,000 homestead
exemption would be:
1.50 mils $187.50
1.25 mils $156.25
1.00 mils $125.00
.50 mils $ 62.50
City of Ococe• IJO N I:dctihom Diisc • ()cocc. Florida IJ;oI
phone 140-H 90s_ll IIO• liic N071 6s6-8SO4 • nvo Cl.ococe 11.as