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Home My WebLink About1987-06-09; City Council; 9034; Mayor's general obligation bond committeeAB# 9*3 y MTG. 6/9/87 DEPT. FIN TITLE:MAYOR'S GENERAL OBLIGATION BOND rOMMTTTFF PROPOSED PROJECTS DEPT. HD.^T^ CITY ATT\(r^ CITY MQR^j^ CI'QOF CARLSBAD — AGENI^jBILL 01 oo 01* 4J 01c •£0> 0 0 0) 3 >o oo a t3 01 •H 15 HO S M-l 4-> O 0) .-I H r-l Ctf O) JS O> 4-1S-l CS C ft O 0) S-l 01 ft 3 0) O CO o14-1 T3IH acfl O4-i pq CO -a o o01 - p~i 4J O O 4-1 O> tfl OS-I •H O> 01 T) O COcfl cfl« rH ,fl CO ft O co o 3C 4-1 ft O) CO 01 01a a -cO -H 4-1 O 4-1 >> 01 O ,Q 4-1 4-1 Cfl « -H C ^H h O •H ft -H U O 4-1 C M O 3 ft 01 O ft .H O cfl 01 OOI CMI vO O _l O oo RECOMMENDED ACTION: Council should discuss the concept of placing a General Obligation Bond issue before the voters in November 1987, and provide direction to staff. ITEM EXPLANATION: During the past six weeks the Mayor has held several meetings with an advisory committee of Carlsbad residents representing a cross section of the local population to discuss the possibility of placing a General Obligation Bond issue before the voters at the November 5, 1987 election. This bond issue would include a variety of projects aimed at improving the quality of life for current residents of all of Carlsbad. Although many projects were discussed during these meetings, only those representing improvements serving current residents were included on the final list of projects. The list of proposed projects is shown below: -Acquisition of Hosp Grove -Sidewalk along Carlsbad Blvd above Seawall Project -Pedestrian Overcrossings over Rancho Santa Fe to Stage Coach Park -Macario Canyon Sports Complex and Community Center -Municipal Golf Course Construction -Swim Complex -Beach Parking -Outdoor Amphitheatre Total Tentative Projects $6.7 million 0.5 0.4 ,0 .0 2.9 0.9 2.0 $23.4 million If Council wishes to proceed with a General Obligation Bond issue, Council should direct staff to prepare necessary documents. The last day to file election documents with the County for the November election is September 1, 1987. The attached exhibits describe the proposed projects in more detail. Staff will be available at the Council meeting to provide additional information. Constructing some of the proposed improvements using the 1972 Street Lighting Assessment District may be possible, but according to the City Attorney and outside legal counsel projects would have to be evaluated on a case-by- case basis. Even though the statutes may be stretched to allow inclusion of projects like these, Council may find that the problems associated with attempting to fund this program from this source make the 72 Act unfeasible. PAGE 2 of AB # FISCAL IMPACT; The assessed value of the City of Carlsbad is approximately $4.3 billion. If the City issues a $20 million General Obligation Bond the annual debt service would be about $2.1 million on a 20 year bond or $1.8 million on a 30 year bond in today's market. The table below shows the estimated tax rate and the effect on various properties based on their assessed value (AV): 20 Year Bond 30 Year Bond TAX RATE 0.052% 0.046% Approximate Cost Per Year Property Value 20 Year Bond 30 Year Bond $ 25,000 AV $ 13 $ 11 50,000 AV 26 23 100,000 AV 52 46 $1,000,000 AV $522 $455 The tax rate indicated above would be levied against all property within the City including commerical, industrial, public utilities, homes and vacant property. The operating cost associated with these projects may be as much as $1.7 million annually. Operating revenue from the golf course operation, if successful, may offset $1.3 to $1.6 million. However, this revenue estimate should be considered as optimistic. EXHIBITS: 1. Project Descriptions - projects discussed by G.O. Bond Committee 2. List of participants in G.O. Bond Committee. 3. Outline of the 1972 Street Lighting and Landscape Maintenance District Act. — CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITLE: PROJECT Nft PROJECT LOCATION MAP. HOSP GROVE PROJECT LOCATION NARRATIVE Hosp Grove is located near the northern boundary of the City in the general vicinity of Marron Rd., Monroe St., Jefferson, and Hosp Way. PROJECT DESCRIPTION The City of Carlsbad will acquire approximately 53 acres of land near the northern boundary of the City known as Hosp Grove. This acquisition should occur in June 1987 using short term funding. This area is to be acquired for the purpose of preserving open space. Project Cost $6.7 million Annual Operating Cost - from $0 to $65,000 per year PROJECT NEED The voters of Carlsbad approved the acquisition of Hosp Grove at the March 1987 election. This approval did not address the question of project funding. Including this project in the proposed G.O. Bond issue would provide a means of financing the acquisition. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITlf: PROJECT NO: Carlsbad Blvd. Sidewalk above Seawall PROJECT LOCATION MAP: r_ V «- PROJECT LOCATION NARRATIVE The proposed sidewalk would be located along the west side of Carlsbad Blvd. at street level in the area generally from Pine Avenue south to the existing state park property. PROJECT DESCRIPTION This project would consist of approximately 2,500 feet of sidewalk along the west side of Carlsbad Blvd. The actual project description remains to be clarified, however an improvement similar to that located in the state park property above Tamarack beach could be accomplished. The project would include sidewalks, rails, lighting, curbs, gutters and landscaping. Project Cost - $460,000 Annual Operating Cost - $3,00:0 to $5,000 PROJECT NEED The advisory committee felt that this project would provide a much needed addition to the City's beach area. The Boulevard from Pine Street south to Tamarack provides one of the best ocean views in the City. A pedestrian sidewalk would create better access to this area. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TIT1-E: Pedestrian Overcrossings - Rancho Santa Fe Rd at Stage Coach Park PROJECT Nft -^mr PROJECT LOCATION MAP. PROJECT LOCATION NARRATIVE Two pedestrian overcrossings would be located along Rancho Santa Fe Road to provide pedestrian access to Stage Coach Park. Exact locations have not been determined. PROJECT DESCRIPTION These overcrossings will provide pedestrian access to Stage Coach Park thereby avoiding the necessity to cross Rancho Santa Fe Road. The project includes the construction of two overcrossings at locations to be determined at a later date. The design of the overcrossings and the material used in construction will effect the cost of this project. Project cost - $400,000 Annual Operating Cost - $5,000 PROJECT NEED The committee supported these overcrossings as part of an effort to improve access to Stage Coach Park. The installation of these walkways will eliminate the necessity for pedestrian traffic across Rancho Santa Fe Road. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITLE' Macario Canyon Sports Complex and Community Center PROJECT Ntt . PROJECT LOCATION MAP: PROJECT LOCATION NARRATIVE The proposed sports complex would be located within Macario Canyon Park. No specific site within the park has been identified by the committee, however a prior park master plan describes the possible location of ball fields and community buildings. PROJECT DESCRIPTION The preliminary design of the sports complex includes 3 Softball/baseball fields, 2 soccer/ football fields, 12 tennis courts, rest rooms, a community building and parking. Specific plans for the development of a sports complex do not currently exist, however the Macario Park master plan does provide some guidance. Project Cost - $5.0 million Annual Operating Cost - $200,000 Annual Operating Revenue - $100,000 PROJECT NEED This project provides several ball fields to help meet the demand for recreational sports facilities. The community center provides a meeting place, activity rooms and a focus for community events. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TIT1-E: PROJECT Ntt Municipal Golf Course PROJECT LOCATION MAR Possible Sites: PROJECT LOCATION NARRATIVE The location of a municipal golf course has not been determined. Among the alternatives are: County property east of Palomar Airport and south of the Safety Center, the Carillo Ranch/ Alga Norte Park area, and Macario Canyon Park. PROJECT DESCRIPTION The municipal golf course would be a full-size 18 hole facility with pro shop. The City's recent golf course feasibility study provides the best description of the possible course characteristics, The estimated construction cost does not include land acquisition. Project Cost - $4.5 million Annual Operating Costs - $1.2 million (excluding debt service) Annual Operating Revenue - $1.6 million PROJECT NF-HD The community support for a golf course apprears to be growing. The committee found broad support for a facility of this type among its members. The City has just completed a feasibility study outlining the City's need and ability to provide a quality golf course. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITLE: PROJECT NO: Swimming Pool PROJECT LOCATION MAR PROJECT LOCATION NARRATIVE No specific location has been proposed for the swimming pool facility. Some concern has been expressed that any site finally selected should not conflict with other private facilities such as those proposed for the Pacific Rim Project. The general target area is the southern half of Carlsbad. PROJECT DESCRIPTION The swimming pool proposed by the committee is a full-size 50 meter pool with associated locker and shower rooms, and a staff office. The project has not been further defined. Project Cost - $2.9 million Annual Operating Costs - $250,000 Annual Operating Revenue - $125,000 PROJECT NEED The committee members found general support for ^the construction of a full-size swimming pool. The location suggested reflects the need for a pool in the south, giving Carlsbad swimming facilities located to serve all residents. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITlf: Beach Parking PROJECT NO: —— PROJECT LOCATION MAP. PROJECT LOCATION NARRATIVE Exact locations for beach parking lots have not been identified. The intent is to locate beach parking generally in the area from SDG & E south. PROJECT DESCRIPTION Very little is currently available on the beach parking project. The concept is to identify areas where additional parking can be located and beach access is available. Project Cost - $850,000 Annual operating costs - $1,000 to $3,000 PROJECT NF-7ED The committee included this project to satisfy the demand for additional beach parking during peak seasons. The City's beaches are a major recreation- al asset which the City should help promote. CAPITAL PROJECT DESCRIPTION 1987-88 TO 1991-92 PROJECT TITLE: PROJECT NO: Amphitheatre PROJECT LOCATION MAR PACIFIC OCEAN No Specific Site Selected PROJECT LOCATION NARRATIVE No site has been selected for this facility. A natural site with hillside seating would best suit the project concept. PROJECT DESCRIPTION The Arts Commission has asked the committee to include the construction of an outdoor amphi- theatre with a 4,000 seat capacity. The amphi- theatre would include all stages, lighting, sound and seating necessary to support both plays and concerts. A specific project design has not been created. Project Cost - $2 million Annual Operating Cost - unknown Annual Operating Revenue - unknown PROJECT NEED The Arts Commission suggested this project to meet the community need for an Arts facility. An amphitheatre of this size would provide the Carlsbad residents with a place to hold major concerts, plays or live shows of all types. MAYOR'S GENERAL OBLIGATION BOND ADVISORY COMMITTEE PARTICIPANTS CITIZEN REPRESENTATIVES Steve Densham Jack Schumaker Dave Castner Barbara Donovan Dan Hammer Jim Courtney Hap L'Heureux Bob Caggiano Bob Ludwig Paul Schwartz CITY REPRESENTATIVES Mayor Lewis Richard Allen Frank Aleshire Dave Bradstreet Ray Patchett Jim Elliott H