HomeMy WebLinkAboutCaptial Improvement Plan handouts 02-05-18 TOWN OF WESTLAKE
CAPITAL IMPROVEMENT PLAN
WESTLAKE ACADEMY DETAIL
FEBRUARY 5, 2018
DETAIL OF WESTLAKE ACADEMY BONDED INDEBTEDNESS
Outstanding FY 17-18 Payoff Years
Original Amount Original Series Construction Current Series Balance Payments Year Remaining
$12,400,000 Series 2002 CO Phase I construction Series 2011 GO-Refunding of 2002 & 2003 $ 6,360,000 $ 892,650 2028 11
$6,410,000 Series 2003 CO Phase II construction Series 2017 GO- Refunding of 2007 (orig 2002) 5,795,000 256,625 2032 15
$2,500,000 Series 2008 GO Arts and Sciences Center Series 2014 GO-Refunding of 2003 1,535,000 70,040 2032 15
$8,500,000 Series 2013 CO WA Expansion of 3 buildings Series 2013 CO -WA Expansion of 3 buildings 7,680,700 445,172 2043 26
$29,810,000 Series 2013 GO- Refunding of A&S Center 1,625,000 162,400 2028 11
$ 22,995,700 $ 1,826,887
CASH RECEIVED FOR THE BENEFIT OF WESTLAKE ACADEMY
FY 14-15 $ 410,000 Maguire Partners-Granada Phase 1 (41 lots x$10K)
FY 16-17 180,000 Quail Hollow 1 (36 lots x$5K)
80,000 Quail Hollow II (16 lots x$5K)
60,000 Crescent Estates Custom Homes- Entrada (6 lots x$10K)
120,000 Hokey Land Holdings- Entrada (12 lots x$10K)
430,000 Wilbow-Granada Phase II (43 lots x$10K)
140,000 Quail Hollow II (28 lots x$5K)
1,010,000
FY 17-18 80,000 Quail Hollow III (16 lots x$5K)
$ 1,500,000
$ 500,000 Schwab-due and payable upon the approval of the final plat
TIME FRAME REGARDING ORIGINAL FACILITY MASTER PLAN
Resolution 12-12 (TOW) Approved a contract for preparation of a campus Master Plan with BBP 3/26/2012
Resolution 12-36(TOW) Adopted the Facility Master Plan 11/12/2012
Resolution 12-23 (WA) Adopted the Facility Master Plan 11/5/2012
Section I I
Capital Improvement Plan
INTRODUCTION
I
This document provides a comprehensive plan of capital improvements that are to be
j undertaken by the Town over the next five (5) years. Cost estimates and financing methods for
the improvements are included and are referenced by individual project. The development
of the Capital Improvement Plan is one of the more complex and multi-faceted processes of
the Town. Striking a balance between the needs and interests of the residents and our
financial capacity is a challenging proposition.
i
For this community vision to have meaning, it must be accompanied by deliberate planning
that leads the organization and community to its desired future. This requires clearly defined
goals, proactive strategies, committed leadership, effective management and above all, the
IG resources to carry out these plans and objectives.
p' WHAT IS A CIP?
First, what it is not; a CIP (Capital Improvement Plan) is not a wish list, rather it is a realistic plan
designed to fulfill the strategic goals and objectives necessary to achieve the mission and
vision of the community.
The CIP is a multi-year document that summarizes the capital needs of a community over a
specific time period. It outlines the individual capital projects, their strategic value and
relationship to the community's long-term goals and objectives as well as the fiscal impact that
they pose to the community.
WHY HAVE A CIP?
• Informs the employees, departments, elected officials and the public of an entity's
intent to invest in its infrastructure and community
• Represents a long-term financial plan and identifies resources or financing strategies
that an entity plans to use to fund the plan 3
• Identifies projects by functionality in order to ensure a balanced approach to our
reinvestment in the community
• Establishes priorities and serves as a planning document or blueprint for an
organization's investment in capital infrastructure both short-term and long-term
• Provides a breakdown of major project costs and phasing as necessary
• DOES NOT appropriate money
CIP PRIORITIZATION STRATEGY— PRESERVE * PROTECT * PLAN
• Preserve the past by investing in the continued upgrade of town assets and
infrastructure
• Protect the present with improvements and/or additions to facilities, roads, and capital
investments
• Plan for the future of the organization
WHAT IS A CAPITAL PROJECT? '
Capital includes all long-lived infrastructures such as water facilities, sewers, streets, parks and
buildings along with major equipment like fire trucks, radio systems, vehicles, computers and