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HomeMy WebLinkAboutMinutes_Miscellaneous_05/21/1993_Finance & Administration Committee rE VILLAGE OF TEQUESTA Post Office Box 3273 • 357 Tequesta Drive Tequesta, Florida 33469 -0273 • (407) 575 -6200 S Fax: (407) 575 -6203 ( 3 0 P 4 F4CH COO"" F I N A N C E A N D A D M I N I S T R A T I O N C O M M I T T E E M E E T I N G M I N U T E S M A Y 2 1, 1 9 9 3 I. CALL TO ORDER AND ROLL CALL The Finance & Administration Committee of the Village Council held a Committee Meeting on Friday, May 21, 1993 in the Village Hall, 357 Tequesta Drive, Tequesta, Florida. The meeting was called to order at 8:30 A.M. by Chairman Earl L. Collings. Finance & Administration Committee Co- Chairman William E. Burckart was not it attendance. Staff members present were: Village Manager, Thomas G. Bradford; Finance Director, Bill Kascavelis, and Gary Preston, Director of Public Works. Also in attendance was Jaing Song of Gee & Jenson. II. APPROVAL OF AGENDA The Agenda was approved as submitted. III. REVIEW OF PROPOSED FINANCE PLAN FOR CAPITAL EXPENDITURES AND PROJECTED MILLAGE RATE DECISION MATRIX. Bill C. Kascavelis, Finance Director. Mr. Kascavelis presented for the Committee's review information which was sent to the Director of Financial Services at the Florida League of Cities for requesting RFP's from participating consortium members. Evaluations of proposals is expected be received by May 27. Once evaluations are received, they will be reviewed by Staff and a recommendation made to the Village Council. There will be no adverse effect on the interest rate if the dollar amount of the Bond is reduced, or if a project is added to or subtracted from inclusion in the Bond monies, after the evaluation has taken place. Recycled Paper Finance and Administration Committee Meeting Minutes May 21, 1993 Page 2 -------------------- - - - - -- The Bond issue is expected to be $3,050,000, with an average annual new debt service of $230,000. The millage rate increase would be .3053 mills, a 5.17% increase. The Bond would cover the following projects: o Dover Ditch ............................ $826,850.00 o Tequesta Drive Sidewalk ................ 70,000.00 o Tequesta Park - Parking Lot Paving & Landscaping.. 145,000.00 - Playground Improvements........... 85,000.00 - New Ballfields & Lighting......... 215,000.00 - Parking Lot Expansion ............. 80,000.00 o Constitution Park - Expansion of Facilities........... 135,000.00 o Fire Department Trucks ................. 616,800.00 DOVER DITCH Chairman Collings, understanding that Dover Ditch is a real problem and in dire need of repair, asked Jaing Song to justify the cost of $826,000. Mr. Song explained this cost includes the covering of a 650 foot reach of the Ditch completely with a concrete box culvert between Seabrook and Riverside Drive. This project would give a little water quality treatment to the Dover Ditch area. Another option could be to cover the banks of the Ditch with a geo fabric to repair the slope, which would be a more inexpensive repair, but would require continual maintenance. Concrete walls on each bank was not given consideration. This would be a more expensive option since forms would have to be poured. There could be a strong liability factor in the Dover Ditch area, since residences along its banks are losing large portions of their property to erosion. There exists there a large mangrove infestation which continues to spread, diverting the water flow. The Village, 12 -15 years ago, purchased 15 feet on the north side of Dover Ditch. Today that fifteen feet is gone and in the ditch, making it possible now to fit only a riding lawn mower in there for maintenance. Homeowners will not allow Village maintenance vehicles on their property. The last major cleanup was two years ago. Finance and Administration committee Meeting Minutes May 21, 1993 Page 3 -------------------------- Whichever route is chosen, the mangrove infestation must be removed, or will continue to be a problem. The present 20 foot mangrove trees are only 5 -6 years old. In the next 4- 5 years, these mangroves will completely choke the Ditch if not removed. Discussions for their removal have taken place with the South Florida Water Management District, who were to respond in letter form. That letter has not yet been received. Gee & Jenson is of the opinion that since the mangroves are a nuisance to public interests, permits will be able to be acquired for their removal. However, a specific construction package must be presented to DER in order to get a clear ruling on whether it is permittable, and if so, what type of mitigation is necessary. Permitting could take 6 -9 months. The Committee recommended that Gee & Jenson take the worse scenario for Dover Ditch (boxed culvert scenario or seawall scenario) and start the permitting process, as well as submitting an estimate on an alternative resolution of the Dover Ditch problem. If the mangroves cannot be moved, a third option should be investigated. The Committee recommended to the Village Staff and Village Council that a plan be designed to remedy the Dover Ditch problem, and that the permitting process start immediately. Gary Preston explained that Tequesta may be required to put a seawall in at the River west of Riverside Drive to keep salt water from coming back in. TEOUESTA DRIVE SIDEWALK o From Willow Road to Seabrook on north side = $30,000; o Asphalt overlay between Seabrook and Riverside Drive = $10,000; o From Tequesta Drive bridge to Tequesta Country Club entrance - concrete = $30,000. Tequesta Park Parking Lot Presently there exists a shellrock parking lot, which blows around on windy days, and which constantly needs re- grading. This needs to be upgraded. The upgrade will include a parking lot expansion. Playground Improvements The playground will be resurfaced and new equipment will be added, with fencing around the area. Finance and Administration Committee Meeting Minutes May 21, 1993 Page 4 Ballfield Lights The lighting system will be upgraded to state -of- the -art. Lights at Pennock Field could be moved to be used at the basketball courts, but the system is an old one (20 -25 years old), and would be more costly to use. Constitution Park Village Manager Bradford explained there is a conflict of agreement between JTJC and Tequesta Gardens Condominiums: 1) the need to put in the Lease Agreement a statement that the Master Plan for the park will not be altered for ten years and to make this a condition of Site Plan Review; and 2) the western end of the Park has a thicket, but Tequesta Gardens' residents want that area to also have a fifty foot buffer and a fence. Chairman Collings felt that though monies are allotted for Constitution Park, no work should be done until agreement is met between JTJC, Tequesta Gardens Condominiums, and the Village, that the figure for expansion of facilities for Constitution Park be changed to $165,000 to include monies for topographical surveys, engineering, etc., and the lease agreement should be finalized prior to Bond closing or Bond money may be recommended for deletion. Chairman Collings asked the Village Manager to communicate this to the JTJC and Tequesta Gardens. IV. CONSIDERATION OF IN -HOUSE FINANCING OF FIRE APPARATUS Village Manager Bradford stated it would be his recommendation not to pay cash for fire apparatus since the cost of debt service on a Bond would be so low. Chairman Collings stated he would agree, as long as the total fire budget remains less than projected. V. ANY OTHER MATTERS. Tequesta Branch Library: Village Manager Bradford gave an update: The permit to begin construction was issued approximately one month ago, with construction scheduled to begin April 1994 with a Certificate of Occupancy scheduled for August /September 1994. Chairman Collings indicated that he would speak with Palm Beach County Commissioner Karen Marcus to determine what can be done to expedite the process. Finance and Administration Committee Meeting Minutes May 21, 1993 Page 5 -------------------------- Burckart Letter: Co- Chairman Burckart, who was not in attendance, submitted to the Committee a letter explaining his position regarding funding through a Bond. His letter suggested: "We select the Underwriter and instruct the Underwriter to go out into the market and find the best deal. We fix their fee up front and maybe offer A Bonds if certain parameters are met. The problem with an RFP is that we ( Tequesta) can't lock in the deal until we shop this with the Buyers - not the Underwriters. I think we need to specify the underwriters job and get a fee proposal based upon that - not what the underwriter thinks he can get in the market. I am concerned Hough was not on the list to notify." Finance Director Bill Kascavelis explained that Florida League of Cities (FLC) has a financial consortium to assist smaller municipalities such as Tequesta in the process of Bonds and capital financing. FLC has a list of banks and underwriters (of which Hough is one) which are included in the consortium. Tequesta will receive from FLC the lowest and most competitive proposal negotiated by everyone in the consortium. Proposals will be analyzed on May 27 and FLC will give Tequesta the ranking. VI. ADJOURNMENT There being no other matters before the Committee, the meeting was adjourned at 10:30 A.M. Respectfully submitted, Fran Bitters Recording Secretary Date Approved: ATTEST: JoOehn Manganiel Village Clerk