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HomeMy WebLinkAbout09-10-18 Finance Com. Minutesi :; "ve-Year Capital Improvements Plan Review Monday, September 10, 2018 Council Chambers Council Members Present: Mayor Peterson,, Vice Mayor Amorose Groomes, Ms. Alutto, Ms. De Rosa, Ms. Fox, Mr. Keenan and Mr. Reiner. Staff, present: Mr. McDaniel, Ms. Crandall, Ms. Mumma, Ms. Readler, Chief Von Eckartsberg, Ms. Goss, Mr. Earman, Mr. McCollough, Ms. O'Callaghan, Ms. Kennedy, Ms. Richison, Mr. Syler, Mr. Hammersmith, Mr. Ashford, Mr. Stiffler, Mr. Dearth and Mr. Plouck. Mr. McDaniel referred to the memo that was provided to Council regarding the follow-ups to the CIP workshop. The memo provides five courses of action and what is recommended by staff. Mr. Keenan stated that he is fine with the proposed CIP, but he offered the opportunity to ask, any �twuestions or provide any comments to Council members. Finance Committee of the Whole September 10, 2018 Page 2 of 10 In response to Mayor Peterson's question regarding the difference between options 3 and 4, Mr. McDaniel stated that option 4 represents the original staff CIP proposal including the addition of increased recreation fees. Option 3 is the $6 million average of debt issued per year plus the additional recreation fees. Finance Committee of the Whole September 10, 2018 Page 3 of 10 Mayor Peterson stated that unintended consequences are always an important consideration. A,,,% - each line item is reviewed and possibly modified, that could bring unintended consequences. He agrees with Mr. Keenan, the park needs to move forward as planned. He questioned whether or not this is the best venue in which to review each line item from a policy perspective. Vice Mayor Amorose Groomes agreed with Mr. McDaniel, noting it is fair that the City pay for the construction of the facilities, but those who use the facilities pay to support the maintenance costs. Finance Committee of the Whole September 10, 2018 Page 4 of 10 Mr. Keenan stated that in terms of the revenue changes directly related to Bridge Park, there havita! been some increases in retaii and office space and there have been decreases in the apartmentc., that were originally planned. Ms. De Rosa stated that there is a lot of latitude to make some changes and not front load the CIP with $10 million for each of the e first two yars. She wants to review line items and adjust some items a bit. She is not trying to change the park, but she would like to consider other items to make it more comfortable. Mr. Keenan stated that we are not in financial crisis mode by any stretch. He understands Hyland - Croy improvements need to be done but he would like to delay this project until there is buy -in from other jurisdictions. Finance Committee of the Whole September 10, 2018 Page 5 of 10 Ms. De Rosa stated this has been on the radar for quite some time. She would like to look specifically at including this in the next two years. Mr. McDaniel referenced Option 2 in the memo again. The consensus among Council was that everyone agreed with maintaining the level of maintenance, which was $77 million over five years. He suggested looking at the projects where changes can be made, but retaining the maintenance and enhancements. He asked Council to focus on the chart in the memo (below). Table 1 — Option 2 ORIGINAL/REVISED 2019 2020 2021 2022 2023 Riverside Crossing $10,625,000 $4,200,000 $2,900,000 $0 $0 Park $101625,000 0 U $0 $4,085,377 North Pool $0 $6,000,000 $0 $0 $0 0 0 $6,000,000 $0 $0 River Forest Stormwater & $0 $0 $0 $1,800,000 $0 Roadway $0 $0 $0 $1,800,000 $0 Im rovements Hyland -Croy 0 $ 0 $ 2456,250 0 $ 0 Roadway$ $0 $0 '$ $0 $0 $0 Im rovements Total $1016251000 $10,200,000 $5,356,250 $1,800,000 $0 $10,625,000 $0 $6,000,000 $1,800,000 $4,085,377 He stated that the $10.6 million in 2019 for Riverside Crossing Park is for the plazas. Vice Mayor Amorose Groomes clarified that this project was approved several meetings ago. She asked if this was a cash advance from the general fund that this CIP will repay? Ms. Mumma stated that there was a small component that Crawford Hoying was to do in conjunction with their work on the west side. Only $1.7 million was advanced. Vice Mayor Amorose Groomes stated that she was of the understanding that the west side was finished because of what was already planned (planters, trees, etc.). Mr. Earman stated that what Vice Mayor Amorose Groomes was referring to was the cost associated with the restoration work to be done once the plaza is finished and the bridge is completed. In response to Vice Mayor Amorose Groomes' question, Mr. Earman stated that the $10.6 million does include the restoration work. Vice Mayor Amorose Groomes recalled that the legislation approved Crawford Hoying as the project manager and the dollar amount. So to her, she thought the west side was done. She reiterated that she is hearing that all of Council wants the plazas to be finished. Mr. McDaniel stated that he was just clarifying that it is the plazas that represents the $10.6 million in 2019. Ms. Alutto noted that it appears there is no ability to reduce that $10.6 million. Mr. McDaniel stated that there are a few things that could be removed from the project such as the building on the plaza, but it will cost more to build it later. Vice Mayor Amorose Groomes asked if this $10.6 million includes the retaining walls up and down Riverside Drive. Mr. McDaniel stated that when exiting the bridge going west to east, you will walk out on the plaza as it was designed and the retaining wall will be right off the plaza. However, everything to the Finance Committee of r aa. September 10, 2018 Page 0 Finance Committee of the Whole September 10, 2018 Page 7 of 10 ITis,, De Rosa stated she is focused on 2019. There is another list of $2 million in line items that could be discussed. Do we need another parking study? Do we need a North Pool Study? There is a lot of money related to that list and it could be an opportunity for discussion. Mr. Keenan stated that money could be generated by charging for the parking garage. Even with a parking garage fee, it would be cheaper than using valet service. Personally, he doesn't believe charging for parking would be a problem. Ms. Fox stated that in having •these discussions, Council has agreed not to cut maintenance and that the park is important because it is our "front porch." The only other place to consider modifications is in looking at the "wish list." She does not believe another parking study is necessary. Finance Committee of the Whole Page 8 of 10 Finance Committee of .. Whole September Pr. 9 of 10 Finance Committee of the Whole September 10, 2018 Page 10 of 10 Mr. McDaniel stated that the CIP would not be ready for hearing at the Council meeting. Mr. Keenan stated that they will wait to hear back about scheduling another work session. The meeting was adjourned at 6:52 p.m. Al ing CleA of Council 'lid