HomeMy WebLinkAboutDocumentation_Miscellaneous_Tab 3_5/18/1994 ATTACHMENT A
PROPOSED SCOPE OF SERVICES
The following is the proposed Scope of Services for the financial
feasibility analysis for the Village Center of Tequesta project .
This scope reflects our understanding of the needs of the Village
regarding this matter.
TASK 1. - DEMAND ANALYSIS
Determine the market demand for the project for each of the
individual elements (retail, office, housing, institute, etc . ) .
The analysis will be completed on a square footage or unit basis ,
and will reflect the amount of space that could be supported.
TASK 2 . - ESTIMATION OF COSTS
Cost factors will be estimated for both capital costs and operating
expenses for the project .
2 . 1 - Capital Costs
Capital requirements will be based on the projections by the
developer, local improvement district and engineering consultants .
Factors to be assessed include land acquisition, infrastructure,
construction costs and impact fees . Additionally, these costs will
be allocated to those organizations responsible for their
completion.
2 .2 - Operating Costs
Operating costs for the project will be estimated' based on current
rates for facilities of similar type. Operating costs will be
estimated for salary and general facility maintenance. Cost of
goods sold for the retail portion will not be included.
TASK 3 . - IMPACT ANALYSIS
3 . 1 - Bonding Capacity
Determine the bonding capacity of the Village including rating and
likely interest rates . Estimate debt service for project .
3 .2 - Space Requirements
Assess the recent space allocation studies completed for the
Village and determine the most reasonable scenario for determining
the space needs and the resultant costs .
04-08-94 13:53 PMG ASSOCIATES 400 P03
3 .3 - Assess Revenues for Village
Determine the expected revenues to be accrued by Tequesta based on
the proposed project. Revenues will include ad valorem taxes,
assessments, gas tax, sales tax and other State shared revenues .
Additionally, the taxability of property owned by the Village and
leased for development will be determined from interviews with the
Property Appraiser.
3 .4 - Spin-off Effects
An assessment of the spin-off effects of the development will also
be determined and presented to the Village. These effects include:
multiplier effect, increase in value for surrounding properties and
other benefits .
3 .5 Evaluation of Financing/Operational Structure
Various methods of obtaining financing for the project and
continued operations will be analyzed to determine the most
beneficial mechanism for the Village. Some , of these methods
include special districts, CRA designation or other organizational
procedures.
TASK 4. - BENEFIT/COST ANALYSIS
The analyses completed in previous tasks will be combined into a
singular analysis comparing the benefits accrued by the project as
well as the costs generated. This comparison will enable the
Village Council to assess the effects of the project on Tequesta
both in the short-run and long range.
All of the analyses will be combined into a Final Report which will
include all findings, evaluations and recommendations .
TASK 5. - COORDINATION
The Project Team will maintain constant contact with the Village
Manager, or his designee, to facilitate coordination. In addition,
all reports, memos and working papers will be submitted in draft
form for review and comment. Progress reports will be submitted in
writing at bi-monthly intervals.