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HomeMy WebLinkAboutMinutes_Miscellaneous_08/12/1992_Finance & Administration Committee f VILLAGE OF TEQUESTA Post Office Box 3273 • 357 Tequesta Drive Tequesta, Florida 33469 -0273 • (407) 575 -6200 3 o Fax: (407) 575 -6203 Y �3 0 � 4 �7eH coot" 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 A U G U S T 1 2, 1 9 9 2 I. CALL TO ORDER AND ROLL CALL The Finance & Administration Committee of the Village Council held a Committee Meeting on Wednesday, August 12, 1992 in the Village Hall, 357 Tequesta Drive, Tequesta, Florida. The meeting was called to order at 9:00 a.m. by Chairman Joseph N. Capretta. Finance & Administration Committee Co- Chairman Earl L. Collings was not in attendance at roll call, but arrived at 9:10 a.m. Staff members present were: Village Manager, Thomas G. Bradford; Joann Manganiello, Village Clerk, Bill Kascavelis, Finance Director, and Gary Preston, Director of Public Works and Recreation. Also in attendance was Richard Staudinger of Gee & Jenson. II. APPROVAL OF AGENDA The Agenda was approved as submitted. III. REVIEW OF THE PROPOSED TEQUESTA PARR IMPROVEMENTS AND COST ESTIMATES ASSOCIATED THEREWITH. Richard Staudinger, of Gee & Jenson, explained that Tequesta Park has an existing baseball facility and shell rock parking lot which are in need of improvement. Tequesta had been working toward obtaining State grant monies to move ahead on some of the components of these improvements to the park. These funds are currently not available. The Master Plan for improvements to the Tequesta Park has four major areas of construction: 1. A new 107 -space parking lot, cost estimated at $80,135. 2. Ball Field Lighting, estimated at $102,300. 3. Parking Lot Landscaping and Irrigation, estimated at $50,340. 4. New Ball Field Irrigation System, estimated at $73,525. Recycled Paper Finance and Administration Committee Meeting Minutes August 12, 1992 Page 2 -------------------------- If the Village approves the moving forward of this project, work could begin on September 1, 1992, plans could be submitted to the Community Appearance Board and Village Council by early November, with bidding and contract award by the end of the year or first of 1993. Work could be completed around the end of the first quarter of 1993. Gary Preston explained the shortcomings of the park in its present condition: Ball Field Lights: were installed in the early 1 60's, using wooden poles and 1500 watt bulbs, (the most expensive system available), giving less than a foot of candle power, with a need of five -ten feet of candle power. There would be a cost of $6000 -$8000 each to replace with the same type of system. The Jupiter - Tequesta Athletic Association has basically abandoned the park, feeling it is unsafe. Irrigation System: The two ball fields contain approximately eight acres which are presently watered by a manually operated irrigation system. Since present restrictions prohibit daytime watering, a man must be brought in from park personnel at night to do the watering, which takes eight hours to complete the watering. The proposed irrigation system will automatically water at night over an eight -hour time period, and save on water consumption as well. The proposed system will have a capacity to expanded (as proposed in Phase II of the Master Plan) to handle the parking lot landscaping, as well. It is proposed to do Phase 1 and 3 at the same time. Chairman Capretta suggested that Martin County be approached and urged to contribute funds towards the improvements of the park, since Martin County residents use Tequesta Park. Co- Chairman Collings concurred. The Committee agreed to proceed with the proposed improvements to Tequesta Park and recommended presentation of the Master Plan for those improvements to the Village Council. IV. REVIEW OF THE DOVER DITCH IMPROVEMENT OPTIONS AND COST ESTIMATES ASSOCIATED THEREWITH. Richard Staudinger presented color photographs of the Dover Ditch area, which started at the east end of the Ditch east of Seabrook Road, continuing on to the west under Seabrook Road and under Riverside Drive. Finance and Administration committee Meeting Minutes August 12, 1992 Page 3 The pictures made it apparent that most of the erosion of the Dover Ditch was occurring on the Jupiter side. Three scenarios for various improvements to the Ditch were presented. Several Jupiter residents who lived on Windsor Road which borders on the Dover Ditch were in attendance. Option 1: An expanded ditch section, but still an open ditch. Trimming, potential erosion, and annual maintenance costs would continue. There is a requirement for some land acquisition. Option 1 uses the potential of diverting some of the Cypress Outfall Project into the Dover Ditch and actually widening the Ditch. This plan would have a 42" pipe west of Seabrook, but would remain with a widened, enlarged open ditch section east of that area. Option 2: This option which totally encloses the Ditch, includes a 52" twin box culvert with aluminum arch pipes with a concrete base. This would allow for a small swale in the abutting back yards providing for drainage. Where the Ditch intersects with the River, there would be a box culvert out as far as it could go, with a head wall away from the Riverside Drive crossing. Option 3: A re- graded and stabilized version of the original design for the ditch, but still an open ditch. Trimming, potential erosion, and annual maintenance costs would continue. A survey was sent out to seventeen property owners whose properties abut the Dover Ditch, to discover whether any of the property owners would be interested in buying back portions that abut their properties. Twelve responses were received: eight against; four in favor. The Village Attorney is presently doing a review to determine who owns which portions of the Dover Ditch. Seventy percent of the properties abutting the Dover Ditch are owned by Jupiter residents, and twenty -six percent of the water flow through the Ditch comes from Jupiter. Because of these facts, the Committee felt Jupiter should share a percentage of the improvement costs. The northern side of the Dover Ditch is presently in a 30' easement, and there is a 15' area used as an access road, totalling approximately 45' for most of it. Because of erosion, the 15' access road no longer exists. Finance and Administration Committee Meeting Minutes August 12, 1992 Page 4 -------------------------- It was the recommendation of Gee & Jenson that option 2 would be the best solution, with an estimated cost of $414,000. The reasons for this were: o Significantly less cost and annual maintenance. o The Dover Ditch would be totally enclosed. The Committee concurred that the lowest cost version of Option 2 was the route to take, but it would be first of all necessary to: 1) present a plan to Jupiter for participation in costs; and 2) obtain a legal opinion regarding property ownership. V. REVIEW OF BONDING OPTIONS AVAILABLE TO FINANCE THE VARIOUS CAPITAL PROJECTS OF THE VILLAGE. Bill Kascavelis, Director of Finance. Mr. Kascavelis reported on the Preliminary Analysis prepared by the Financial Advisor of the First Municipal Loan Council, Capital Financing Assistance Program, administered by the Florida League of Cities. The analysis recommends financial bond alternatives for funding improvements for Tequesta Park, repairs to Dover Ditch, and refunding the outstanding 1979 Series Improvement Revenue Bonds, using a 15 -year and 25 -year amortization schedule. The Refunding produces a savings of $28,247 (or 4.6% of the refunding bonds' principal amount). Refunding and new issuance results in the need for a $1,390,000 bond issue. Staff recommended the 25 -year schedule, since project life will extend beyond that period. Debt Service Requirement to the Sinking Fund would be approximately $35,000 more per year, extending to 2017, which would not adversely impact the Village. The 15 -year plan could impact the Village. Re- issuance of 1 79 Bonds would save $47,000 on that issue. Finance and Administration Committee Meeting Minutes August 12, 1992 Page 5 -------------------------- It was Staff's recommendation that the Committee consider recommending to Council adding Country Club paving, and any other projects, to the Bond monies in order to keep issuance costs down, and allow the Village to benefit from current low interest rates. The Committee suggested that Mr. Kascavelis prepare a spreadsheet which includes Country Club Drive paving, Dover Ditch and Tequesta Park, and any other staff recommended projects, to determine what the impact would be on the Village's Capital Improvement, Sinking Funds, millage rates, as well as the impact on present bondholders, if any. VI. ANY OTHER MATTERS There were no other matters before the Committee. VII. 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: Joann Manganiello Village Clerk