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2018 12 10 FAC Special MeetingFINANCIAL ADVISORY COMMISSION 1 DECEMBER 10, 2018 SPECIAL MEETING NOTICE OF SPECIAL MEETING OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION TO THE COMMISSIONERS OF THE LA QUINTA FINANCIAL ADVISORY COMMISSION: NOTICE IS HEREBY GIVEN that a special meeting of the La Quinta Financial Advisory Commission is hereby called to be held on Monday, December 10, at 3:00 p.m. at La Quinta City Hall located at 78495 Calle Tampico, La Quinta, CA 92253 for the following purpose: CONSENT CALENDAR 1.RECEIVE AND FILE REVENUE AND EXPENDITURE REPORTS DATED OCTOBER 31, 2018 STUDY SESSION 1.REVIEW THE SILVERROCK VENUE SITE MASTER PLAN DEPARTMENTAL REPORTS 1.MEASURE G COMPLIANCE REPORT – VERBAL UPDATE Dated: December 6, 2018 /s/ W. Richard Mills W. RICHARD MILLS, Chairperson Attest: Jessica Delgado, Management Assistant DECLARATION OF POSTING I, Jessica Delgado, Management Assistant, do hereby declare that the foregoing notice for the La Quinta Financial Advisory Commission special meeting of December 10, 2018 was posted on the City’s website, near the entrance to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and at 51-321 Avenida Bermudas, on December 6, 2018. Jessica Delgado, Management Assistant FINANCIAL ADVISORY COMMISSION AGENDA 1 DECEMBER 10, 2018 SPECIAL MEETING FINANCIAL ADVISORY COMMISSION AGENDA CITY HALL STUDY SESSION ROOM 78-495 Calle Tampico, La Quinta SPECIAL MEETING ON MONDAY, DECEMBER 10, 2018 AT 3:00 P.M. Roll Call: Commissioners: Batavick, Lopez, Rosen, Turbow, Twohey and Chairperson Mills PLEDGE OF ALLEGIANCE PUBLIC COMMENT At this time members of the public may address the Commission on any matter not listed on the agenda. Please complete a “Request to Speak” form and limit your comments to three minutes. The Financial Advisory Commission values your comments; however, in accordance with State law, no action shall be taken on any item not appearing on the agenda unless it is an emergency item authorized by GC 54954.2(b). CONFIRMATION OF AGENDA ANNOUNCEMENTS, PRESENTATIONS AND WRITTEN COMMUNICATIONS – None CONSENT CALENDAR 1. Receive and File Revenue and Expenditure Reports Dated October 31, 2018 BUSINESS SESSION – None STUDY SESSION 1. Review the SillverRock Venue Site Master Plan DEPARTMENTAL REPORTS 1. Measure G Compliance Report – Verbal Update CORRESPONDENCE AND WRITTEN MATERIALS – None COMMISSIONERS’ ITEMS Financial Advisory Commission agendas and staff reports are now available on the City’s web page: www.laquintaca.gov FINANCIAL ADVISORY COMMISSION AGENDA 2 DECEMBER 10, 2018 SPECIAL MEETING ADJOURNMENT The next regular quarterly meeting of the La Quinta Financial Advisory Commission will be held on February 13, 2019 commencing at 4:00 p.m. at the La Quinta Study Session Room, 78-495 Calle Tampico, La Quinta, CA 92253. DECLARATION OF POSTING I, Jessica Delgado, Management Assistant, of the City of La Quinta, do hereby declare that the foregoing Agenda for the La Quinta Financial Advisory Commission special meeting was posted on the City’s website, near the entrance to the Council Chamber at 78-495 Calle Tampico, and the bulletin boards at 78-630 Highway 111, and 51-321 Avenida Bermudas, on December 6, 2018. DATED: December 6, 2018 Jessica Delgado, Management Assistant City of La Quinta, California Public Notices The La Quinta City Study Session Room is handicapped accessible. If special equipment is needed for the hearing impaired, please call the City Clerk’s office at (760) 777-7092, twenty- four (24) hours in advance of the meeting and accommodations will be made. If special electronic equipment is needed to make presentations to the Financial Advisory Commission, arrangements should be made in advance by contacting the City Clerk’s office at (760) 777-7092. A one (1) week notice is required. If background material is to be presented to the Financial Advisory Commission during a special FAC meeting, please be advised that eight (8) copies of all documents, exhibits, etc., must be supplied to the Management Assistant for distribution. It is requested that this take place prior to the beginning of the meeting. Any Writings or documents provided to a majority of the Financial Advisory Commission regarding any item(s) on the agenda will be made available for public inspection at the Community Development counter at City Hall located at 78-495 Calle Tampico, La Quinta, California, 92253, during normal business hours. City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: December 10, 2018 STAFF REPORT AGENDA TITLE: RECEIVE AND FILE REVENUE AND EXPENDITURE REPORT DATED OCTOBER 31, 2018 RECOMMENDATION Receive and file revenue and expenditure report dated October 31, 2018. EXECUTIVE SUMMARY • The report summarizes the City’s year-to-date (YTD) revenues and period expenditures for October 2018 (Attachment 1). • Revenue and expenditure reports are also reviewed by the City Council. FISCAL IMPACT - None BACKGROUND/ANALYSIS Below is a summary of the column headers used on the Revenue and Expenditure Summary Reports: Original Total Budget – represents revenue and expenditure budgets the Council adopted in June 2018 for fiscal year 2018/19. Current Total Budget – represents original adopted budgets plus any carryovers (typically associated with long-term Capital Improvement Projects (CIP) from the prior fiscal year) and any Council approved budget amendments from throughout the year. Period Activity – represents actual revenues received and expenditures outlaid in the reporting month. Fiscal Activity – represents actual revenues received and expenditures outlaid YTD. Variance Favorable/ (Unfavorable) - represents the dollar difference between YTD collections/expenditures and the current budgeted amount. Percent Used – represents the percentage activity as compared to budget YTD. CONSENT CALENDAR ITEM NO. 1 NO. The revenue report includes revenues and transfers into funds from other funds (income items). Revenues are not received uniformly throughout the year, resulting in peaks and valleys. For example, large property tax payments are usually received in December and May. Similarly, Redevelopment Property Tax Trust Fund payments are typically received in January and June. Any timing imbalance of revenue receipts versus expenditures is funded from the City’s cash flow reserve. The expenditure report includes expenditures and transfers out to other funds. Unlike revenues, expenditures are more likely to be consistent from month to month. However, large debt service payments or CIP expenditures can cause swings. All funds are generally on target or under budget regarding expenditures. Prepared by: Rosemary Hallick, Financial Services Analyst Approved by: Karla Campos, Finance Director Attachment 1: Revenue and Expenditure Report for October 31, 2018 MTD YTD YTD Percent of Budget General Fund 2,539,371$ 5,361,803$ 10.25% All Funds 3,648,966$ 10,091,295$ 6.98% MTD YTD YTD Percent of Budget General Fund 2,128,326$ 7,122,473$ 12.15% Payroll - General Fund 619,872$ 3,080,247$ 30.41% All Funds 4,248,770$ 33,643,331$ 20.88% October Revenues October Expenditures General Fund Non-General Fund Measure G Sales Tax 875,570$ Allocated Interest 467,240$ Sales Tax 749,571$ Gas Tax 204,585$ Transient Occupancy (Hotel) Tax 407,269$ Non-Allocated Interest (Housing)110,871$ Property Tax 116,183$ SilverRock Greens Fees 104,353$ Fire Service Credit (from County)58,070$ SLESA (COPS) Grant 57,080$ General Fund Non-General Fund Sheriff Contract (July/August)1,095,870$ Finance Authority 1996 Bond Payment(1)668,038$ Marketing and Tourism Promotions 84,083$ Capital Improvement Program-Design(2)324,597$ Parks Landscape Maintenance 35,851$ Capital Improvement Program-Construction(3)223,105$ Contract Services - Administrative 27,320$ Civic Center Building - Exterior Painting 202,031$ Grants/Economic Development 20,500$ SilverRock Maintenance 142,730$ Top Five Revenue/Income Sources for October Top Five Expenditures/Outlays for October (1)Interest and principal payment for Civic Center/City Hall bond, final payment (2) CIP Design: X-Park, SRR Event Site, Village Complete Streets, Eisenhower Retention Basin, Dune Palms Bridge (3)CIP Construction: Quinterra and Adams Retention Basin ATTACHMENT 1 For Fiscal: 2018/19 Period Ending: 10/31/2018 12/5/2018 6:32:09 PM Page 2 of 2 Revenue Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 5,361,8032,539,37152,297,400 52,297,400 -46,935,597 10.25 % 201 - GAS TAX FUND 452,449204,5851,965,500 1,965,500 -1,513,051 23.02 % 202 - LIBRARY & MUSEUM FUND 1,151,2544052,333,000 2,333,000 -1,181,746 49.35 % 203 - PUBLIC SAFETY FUND (MEASURE G)00200,000 200,000 -200,000 0.00 % 210 - FEDERAL ASSISTANCE FUND 0072,000 72,000 -72,000 0.00 % 212 - SLESA (COPS) FUND 57,08057,080100,100 100,100 -43,020 57.02 % 215 - LIGHTING & LANDSCAPING FUND 13,14613,1461,586,100 1,586,100 -1,572,954 0.83 % 220 - QUIMBY FUND 00367,000 367,000 -367,000 0.00 % 221 - AB 939 - CALRECYCLE FUND 2,762063,700 63,700 -60,938 4.34 % 223 - MEASURE A FUND 114,21057,056971,708 971,708 -857,498 11.75 % 225 - INFRASTRUCTURE FUND 00100100 -100 0.00 % 230 - CASp FUND, AB 1379 5,5111,3374,000 4,000 1,511 137.78 % 231 - SUCCESSOR AGCY PA 1 RORF 5,6721,144020,482,627 -20,476,955 0.03 % 235 - SO COAST AIR QUALITY FUND 0051,500 51,500 -51,500 0.00 % 237 - SUCCESSOR AGCY PA 1 ADMIN 00012,005 -12,005 0.00 % 241 - HOUSING AUTHORITY 261,02678315,000 543,000 -281,974 48.07 % 243 - RDA Low-Mod Housing Fund 008,000 18,000 -18,000 0.00 % 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)00010,000 -10,000 0.00 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)110,871110,87130,000 170,000 -59,129 65.22 % 250 - TRANSPORTATION DIF FUND 181,45628,420369,000 369,000 -187,544 49.18 % 251 - PARKS & REC DIF FUND 155,64820,480508,200 508,200 -352,552 30.63 % 252 - CIVIC CENTER DIF FUND 51,4379,274110,000 110,000 -58,563 46.76 % 253 - LIBRARY DEVELOPMENT DIF 26,1443,44030,000 30,000 -3,856 87.15 % 254 - COMMUNITY CENTER DIF 9,8041,29015,400 15,400 -5,596 63.66 % 255 - STREET FACILITY DIF FUND 7,3981,16015,000 15,000 -7,602 49.32 % 256 - PARK FACILITY DIF FUND 3,0404004,000 4,000 -960 76.00 % 257 - FIRE PROTECTION DIF 23,6654,26340,000 40,000 -16,335 59.16 % 270 - ART IN PUBLIC PLACES FUND 28,3655,12088,500 88,500 -60,135 32.05 % 275 - LQ PUBLIC SAFETY OFFICER 002,100 2,100 -2,100 0.00 % 299 - INTEREST ALLOCATION FUND 671,432467,24000 671,432 0.00 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 350350671,600 671,600 -671,250 0.05 % 401 - CAPITAL IMPROVEMENT PROGRAMS 32,029011,955,941 53,199,568 -53,167,539 0.06 % 501 - FACILITY & FLEET REPLACEMENT 227,9250923,700 923,700 -695,775 24.68 % 502 - INFORMATION TECHNOLOGY 276,5091,3951,189,800 1,484,800 -1,208,291 18.62 % 503 - PARK EQUIP & FACILITY FUND 163,7500675,000 675,000 -511,250 24.26 % 504 - INSURANCE FUND 230,6500923,600 923,600 -692,950 24.97 % 601 - SILVERROCK RESORT 445,448121,0614,092,800 4,092,800 -3,647,352 10.88 % 602 - SILVERROCK GOLF RESERVE 0070,000 70,000 -70,000 0.00 % 761 - CERBT OPEB TRUST 20,462000 20,462 0.00 % Report Total:3,648,966 10,091,29582,049,749 144,471,008 -134,379,712 6.98 % For Fiscal: 2018/19 Period Ending: 10/31/2018 12/5/2018 6:28:55 PM Page 2 of 2 Expense Summary Fiscal Activity Variance Favorable (Unfavorable)Fund Period Activity Current Total Budget Original Total Budget Percent Used 101 - GENERAL FUND 7,122,4732,128,32651,153,413 58,636,428 51,513,956 12.15 % 201 - GAS TAX FUND 338,89465,3331,959,900 2,010,829 1,671,935 16.85 % 202 - LIBRARY & MUSEUM FUND 384,07119,7031,628,200 1,628,200 1,244,129 23.59 % 210 - FEDERAL ASSISTANCE FUND 0072,000 72,000 72,000 0.00 % 212 - SLESA (COPS) FUND 00100,000 100,000 100,000 0.00 % 215 - LIGHTING & LANDSCAPING FUND 396,017125,7611,582,700 1,785,400 1,389,383 22.18 % 217 - DEVELOPMENT AGREEMENT 8,1397,81967,000 67,000 58,861 12.15 % 220 - QUIMBY FUND 003,956,000 7,298,488 7,298,488 0.00 % 221 - AB 939 - CALRECYCLE FUND 5,4242,10035,000 35,000 29,576 15.50 % 223 - MEASURE A FUND 00961,708 4,733,403 4,733,403 0.00 % 225 - INFRASTRUCTURE FUND 00022,618 22,618 0.00 % 230 - CASp FUND, AB 1379 004,000 4,000 4,000 0.00 % 231 - SUCCESSOR AGCY PA 1 RORF 12,947,699009,339,728 -3,607,971 138.63 % 235 - SO COAST AIR QUALITY FUND 34317654,000 54,000 53,657 0.64 % 237 - SUCCESSOR AGCY PA 1 ADMIN 2,7001,050012,005 9,305 22.49 % 241 - HOUSING AUTHORITY 122,27912,865604,000 602,500 480,221 20.30 % 243 - RDA Low-Mod Housing Fund 00250,000 250,000 250,000 0.00 % 248 - SA 2004 LO/MOD BOND FUND (Refinanced in 2014)780,90729,62001,451,947 671,040 53.78 % 249 - SA 2011 LOW/MOD BOND FUND (Refinanced in 2016)6,161,359007,416,000 1,254,641 83.08 % 250 - TRANSPORTATION DIF FUND 00400,000 2,551,507 2,551,507 0.00 % 252 - CIVIC CENTER DIF FUND 00110,000 110,000 110,000 0.00 % 253 - LIBRARY DEVELOPMENT DIF 0030,000 30,000 30,000 0.00 % 254 - COMMUNITY CENTER DIF 000101,639 101,639 0.00 % 255 - STREET FACILITY DIF FUND 0015,000 15,000 15,000 0.00 % 256 - PARK FACILITY DIF FUND 004,000 4,000 4,000 0.00 % 257 - FIRE PROTECTION DIF 0040,000 40,000 40,000 0.00 % 270 - ART IN PUBLIC PLACES FUND 17,8212,500322,000 522,000 504,179 3.41 % 310 - LQ FINANCE AUTHORITY DEBT SERVICE 668,038668,038671,600 671,600 3,563 99.47 % 401 - CAPITAL IMPROVEMENT PROGRAMS 2,211,400574,37811,955,941 53,210,575 50,999,174 4.16 % 501 - FACILITY & FLEET REPLACEMENT 197,395230,895923,700 1,005,784 808,389 19.63 % 502 - INFORMATION TECHNOLOGY 239,94659,0781,090,700 1,574,200 1,334,254 15.24 % 503 - PARK EQUIP & FACILITY FUND 127,79747,538705,000 705,000 577,203 18.13 % 504 - INSURANCE FUND 721,5655,269921,100 918,500 196,935 78.56 % 601 - SILVERROCK RESORT 1,176,231268,3204,090,800 4,091,000 2,914,769 28.75 % 602 - SILVERROCK GOLF RESERVE 0050,200 50,200 50,200 0.00 % 760 - SUPPLEMENTAL PENSION PLAN 12,833000 -12,833 0.00 % Report Total:4,248,770 33,643,33183,757,962 161,120,551 127,477,221 20.88 % Funding Source Current Adjusted Measure G Reserves - 1,300,000 Quimby Fund 3,550,000 2,000,000 Park & Recreation DIF Fund - 2,400,000 Art in Public Place DIF Fund 100,000 300,000 TOTAL PROJECT BUDGET 3,650,000 6,000,000 City of La Quinta FINANCIAL ADVISORY COMMISSION MEETING: December 10, 2018 STAFF REPORT AGENDA TITLE: REVIEW THE SILVERROCK VENUE SITE MASTER PLAN RECOMMENDATION Discuss the changes to the SilverRock Venue Site Master Plan that address the recommendations of the Financial Advisory Commission, the Planning Commission, and the Community Services Commission. EXECUTIVE SUMMARY • In February 2018, City Council assigned an Ad Hoc Committee to develop a Master Plan for the SilverRock Venue Site. The resulting Master Plan (Attachment 1) was then shared with the Financial Advisory Commission (FAC), the Planning Commission, and the Community Services Commission. • The FAC provided a letter of recommendations (Attachment 2) for the Venue Site Master Plan that was supported by the Planning Commission and the Community Services Commission. • On August 7, 2018, City Council approved the SilverRock Venue Site Master Plan and adopted a resolution to approve the site development permit, including site architectural and landscape plans for an approximately 14-acre passive park venue. • The Ad Hoc Committee revised the Venue Site Master Plan to address the recommendations of the FAC and reconvened on November 13, 2018 for review. • The SilverRock Venue Site Master Plan is again being presented to the Commissions before going to Council to approve the final plans and bid specifications. FISCAL IMPACT Construction costs are projected to be $6.0 million. This includes soft costs such as design, inspection, and contingency. If approved, the amended project budget would include the following funding sources: STUDY SESSION ITEM NO. 1 An estimated $3.4 million in development impact fees are expected from the SilverRock Development Company. The annual maintenance and operations cost is estimated to be $149,500. This could be offset with rental income for public and private events. BACKGROUND/ANALYSIS In July 2006, City Council approved the Specific Plan (SP) for the SilverRock development which designates 35 acres as a community park for passive use. No conceptual park design was considered when the SP was approved. Special events described in the SP include public parking, automobile displays, art festivals, and corporate events in conjunction with the on-site hotel. As with all City Parks and facilities, each of these types of events will be subject to a temporary use permit from the City. A Purchase, Sale and Development Agreement, along with a statutory Development Agreement with SilverRock Development Company (SDC) was approved by City Council to construct two hotels, a conference center, a new golf clubhouse, retail space, and resort residential uses adjacent to the event site. An estimated $3.4 million in development impact fees may be generated from this development. With the desire to create an event space that could accommodate events larger than the Civic Center Campus, the City Council established an Ad Hoc Committee in February 2018. The Committee consisted of a Council Member, a Community Services Commissioner, Planning Commissioner, and representatives from Montage International and SilverRock Development Company. The Committee then worked with Hermann Design Group and Staff to create a site plan, budget, and construction timeline for the event site. The goal was to complete construction and have the event site operational for the 2020 La Quinta Arts Foundation’s (LQAF) Arts Festival. The LQAF would like to continue holding the event at the Civic Center Campus, but access to the Campus will be restricted during the spring of 2020 due to scheduled street and intersection improvements and concurrent storm drain system improvements. The Committee prepared a master plan for approximately 14-acres of park space with walking paths, turf areas, sloped event lawn, a water feature, public art, a restroom building, and a modular building (Alongi). The proposed Master Plan was presented to the FAC on June 13, 2018. The FAC then submitted a letter to City Council requesting consideration for additional park amenities that include restrooms, storage facilities, shade structures, and additional shade trees (Attachment 2). The FAC also requested a 10-year revenue projection. Staff consulted with Montage International and reviewed previous City events. A 10-year projection is difficult to determine because it is unknown what new groups and uses will be attracted to the new Venue Site. We do know the La Quinta Arts Festival currently generates approximately $66,000 in sales tax and business license revenue and is charged $25,000 (currently waived) for a temporary use permit. Additionally, the Venue Site operations cost is estimated to be $149,500 annually. The Planning Commission held a public hearing for the Venue Site Master Plan site development permit on June 26, 2018. The Planning Commission recommended City Council approval and consideration of the FAC’s request for additional park amenities. The Master Plan was then presented to the Community Services Commission who also supported the Planning Commission and the FACs’ recommendations. On August 7, 2018, City Council approved the SilverRock Venue Site Master Plan and site development permit. Council provided direction to revise the Master Plan to incorporate the recommendations provided in the letter from the FAC. The revised Master Plan includes one restroom facility and additional shade trees. An additional restroom, storage building, amphitheater, and more shade structures are listed as an add alternate. ADDITIONAL INFORMATION Parking: A total of 1,156 venue parking spaces are proposed and include 210 designated spaces with a Class II road base surface, 330 spaces on a decomposed granite surface, 265 overflow spaces in the retention basin, and 351 at the adjacent Montage conference center. The 1,032 parking spaces the City provides for the LQAF Art Festival was the benchmark for this venue’s parking. Operations Cost: Based on the Civic Center Campus, staff used the 2017/18 Campus operations costs to project the following operating costs for the event park: Landscape Maintenance $53,000 Electricity 30,000 Water 24,000 Personnel 19,000 Lake Service 8,400 Materials-Irrigation 3,600 Janitorial Service 3,000 Vehicle Operations 2,500 IT 2,400 Plant Replacement 1,400 Graffiti 1,400 Insurance 500 Tree Replacement 300 TOTAL $149,500 . Development Costs: Based on Masterplan and not final drawings. Cost will be adjusted because of SDC providing the rough grading. Site Preparation $198,075 Site Construction/Amenities 2,104,380 Site Electrical 856,100 Landscape 445,250 Landscape Irrigation 545,000 Maintenance Establishment 18,000 Contractor Admin./Costs 625,021 Professional Services (9.5%) 455,223 Inspect./Test./Survey(9.75%) 467,203 Contingency (10%) 571,425 TOTAL $6,285,677 Additional Items: Currently not approved. Additional Restrooms: 300,000 Shade Structures (3) 500 sq. ft: 135,000 Storage Building: 120,000 Additional Trees (52): 88,000 TOTAL $643,000 Project Schedule: City Council Authorize to Bid January 15, 2019 Bidding Period / Award Contract: February 2019 Construction Start: March 2019 Grassing Start: July 2019 Construction Complete: September 2019 Over-seeding: October 2019 Project Final Acceptance: December 2019 LQ Arts Festival: March 2020 Prepared by: Steve Howlett, Facilities Director Approved by: Karla Campos, Finance Director Attachments: 1. SilverRock Venue Site Master Plan 2. Financial Advisory Commission comment letter June 21, 2018 To; City of La Quinta Madame Mayor and City Council Members From: City of La Quinta Financial Advisory Commission Subject: SilverRock Event Site – Phase 1 Enhanced Plan At the Financial Advisory Commission (“FAC”) Special Meeting on June 13, 2018, City Staff provided a presentation of the SilverRock Event Site – Phase 1 Enhanced Plan (“Enhanced Plan”) proposed by the Ad Hoc SilverRock Event Site Committee (“Ad Hoc Committee”). FAC Commissioners were asked to approve the Enhanced Plan, which utilizes $2.4M of Measure G Funds. This was the first time the FAC was consulted on this matter. One of the responsibilities of the FAC is oversight for the use of Measure G Funds. After much discussion, the FAC Commissioners are unanimous and enthusiastic in support of the concept for the Event Site. However, we expressed concern there was insufficient information for us to approve the Enhanced Plan. Our main areas of concern are as follows:  Lack of information to determine whether the Enhanced Plan provided a state-of-the-art event site in one Phase.  Lack of information on projected annual operating costs and potential revenues. FAC Commissioners requested additional information and selected fellow Commissioners Mills, Rosen and Batavick to meet with City Staff, and for one of these Commissioners to attend the next Ad Hoc Committee Meeting. On June 18, 2018, the three Commissioners met with City Staff. They were provided additional information on the Enhanced Plan, including details of both the capital expenditure and annual operating expense components. They also received additional information addressing other areas of FAC concern including; turf mitigation, Coachella Valley Water District issues, adequacy of Event Site to hold ATTACHMENT 2 various entertainment events, ingress and egress options for people and vehicles and potential future Phases of the Event Site. Commissioner Mills attended the AD Hoc Committee meeting on June 18th. During the meeting he commented that the FAC felt the proposed Enhanced Plan may be “under built”. He further remarked that the proposed plan should NOT be restricted by any hypothetical budget but rather should be guided by amenities that insure the Event Site is a first class facility from the outset with the ability to accommodate multiple types of events. The City needs to take advantage of this once in a lifetime opportunity. Accordingly, the FAC supports additional shade structures, as well as providing adequate restroom facilities taking into account the demographics of our citizens and potential event attendees. The FAC would also recommend a 10-year revenue and expenditure projection. Based on our review of the Enhanced Plan, the FAC has the following recommendations: 1) Revise the current Event Site Enhanced Plan to include additional restroom and storage area facilities, a shade structure over the stage, more shade trees, and more shade structures, such as gazebos. Additional Measure G funds are available. Consider integrating the recently approved purchase of a modular building into a new Enhanced Plan. 2) Develop a plan for using Art in Public Places funds. Some art should be “children friendly.” 3) Obtain specific recommendations and suggestions from potential users and sponsors of events. During the Ad Hoc Committee Meeting, it was mentioned GoldenVoice expressed an interest in the Event Site. This opportunity should be explored. 4) Investigate the potential of obtaining grant funds from the recently passed Proposition 68 or other public sources. 5) With estimated annual operating expenses of $150,000. prepare a 10-year projection showing estimated revenues derived from the La Quinta Arts Festival, other art shows, concerts, food-related events, etc. 6) Highlight the planned Event Site in the City’s continuing marketing efforts. This addition of a new multi-purpose public park is very notable to our residents and to others outside our community. The Planning Commission will be meeting on June 26th for final review and their approval of an Enhanced Plan. The FAC requests the Planning Commission consider our applicable recommendations in their final review. The FAC will hold a Special Meeting on July 18th to review, for our approval, the Enhanced Plan approved by the Planning Commission at their June 26th Meeting. Other additional information will also be reviewed. We are prepared to answer any questions you may have on our observations and recommendations. Respectfully, The Financial Advisory Commission Cc: City of La Quinta Planning Commission City of La Quinta Community Services Commission Frank Spevacek, Chris Escobedo, Steve Howlett, Monika Radeva, Karla Campos, Marcie Graham Bcc Financial Advisory Commissioners Mills, Rosen, Johnson, Twohey, Turbow, Lopez, and Chairperson Batavick HAND OUTS FAC MEETING DECEMBER 10, 2018 POWER POINTS FAC MEETING DECEMBER 10, 2018 STUDY SESSION ITEM NO. 1 12/10/2018 1 PRESENTED BY: ENHANCED PLAN STUDY SESSION ITEM NO. 1 12/10/2018 2 PHASE I ENHANCED - PERSPECTIVE RENDERING •Art Walk with art nodes •Date Palm Grand Arrival with color changing lights •Butterfly Garden •Water Feature •Rolling grass and open space •Parking Lot and Park Lighting •Event Building with Restrooms •New Pump/Filter/Canal Water Conversion •Event lawn with 18” Concrete Platform •Parking/Entry Drive Vehicular Drop Off Area – Pavers •Walkways •Trees •Desert Landscape •Sleeving and Pull Boxes for Future Needs AMENITIES STUDY SESSION ITEM NO. 1 12/10/2018 3 RESTROOMS AMENITIES STUDY SESSION ITEM NO. 1 12/10/2018 4 COLOR CHANGING LIGHTS AT ENTRY PAVERS AND BOLLARDS STUDY SESSION ITEM NO. 1 12/10/2018 5 WATER FEATURE ART NODES STUDY SESSION ITEM NO. 1 12/10/2018 6 •Restroom •Storage Building •Shade Canopies (3) custom FUTURE AMENITIES (ADD ALTERNATES TO BID) FUTURE AMENITIES – SHADE FOR PARK STUDY SESSION ITEM NO. 1 12/10/2018 7 •SITE PREPARATION – MASS GRADING DONE WITH PARK $ 198,075 •SITE CONSTRUCTION AND AMENITIES $ 2,104,380 •Lighting, Restroom, Water Feature, Paver Entry Drive & Drop Off •Fencing at Basin •Additional Trees and Planting •SITE ELECTRICAL $ 856,100 •LANDSCAPE $ 445,250 •IRRIGATION $ 545,000 •MAINTENANCE ESTABLISHMENT $ 18,000 •GENERAL CONDITIONS – ESTIMATED AT 15% $ 625,021 •Mobilization, Bonds, Insurance, General Contractor Fee Temporary Fencing, Cleanup, Recycling, Overhead •SOFT COSTS •Consulting Fees 9.50% $ 455,223 •Inspection/Testing/Survey 9.75% $ 467,203 •Contingency 10.00% $ 571,425 TOTAL PHASE I $ 6,285,677 MASTERPLAN BUDGET •ADDITIONAL ITEMS: Currently not approved •Restroom $ 300,000 •Storage Building $ 120,000 •Shade Structures (3) – 500 SF Custom $ 135,000 TOTAL $ 550,000 •GENERAL CONDITIONS – ESTIMATED AT 15% $ 82,500 •Mobilization, Bonds, Insurance, General Contractor Fee Temporary Fencing, Cleanup, Recycling, Overhead TOTAL ADD ALTERNATES $ 632,500 (NIC: Additional Testing and Inspection and Contingency) ADDITIVE ALTERNATES STUDY SESSION ITEM NO. 1 12/10/2018 8 •Bid Documents Complete January 15, 2019 •Bidding Period/Award Contract February 2019 •Construction Start March 2019 •Grassing Start July 2019 •Construction Complete September 2019 •Over-seeding October 2019 •Project Final Acceptance December 2019 •LQ Arts Festival March 2020 PROJECT SCHEDULE PRESENTED BY: CLOSING COMMENTS?