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The purchase of land adjacent to the current Public Works Campus would <br />Allow the Public Works to be proactive regarding the current growth in the <br />City. <br /> <br />(3), <br /> <br />Estimated Cost. The City currently estimates that the cost of <br />a new City Municipal Center would be $17,700,000, including construction. <br />architecture, engineering, furniture and fixtures, and employee parking in an <br />a4jacent parking ramp. <br /> <br />The costs for the land next to the Public Works campus is approximately <br />$82,200. <br /> <br />(4). <br /> <br />Available Public Resources. The City has limited funds available for <br />general municipal facilities. Approximately $818,000 will be financed <br />with current City funds, with the remainder to.be financed by general <br />obligation bonds issued under the CIP Act, paid by aproperty tax levy,. <br /> <br />(is). <br /> <br />Level of overlapping debt in the CID'. <br />indirect Debt - 2003 <br /> Gross General <br /> Ob!q~at4en <br /> Be.nded DebE <br /> Outstanding <br /> <br />· Debt Applicable to City <br /> <br /> Aneka Count}, <br />!S2. Ne. it <br />{Anoka-Hennepia) <br /> iSC No. 228 (Elk <br />River } <br /> He!roeo!itan <br /> <br /> Melroeolltan <br />Tr~nsiE Co,mission <br /> <br /> 58,867,424 <br />!73,017,208 <br />i48,43'~,096 · <br /> <br /> 24,889,167 <br />117,574,000 <br /> <br />5.9 <br /> <br />7.7 <br /> <br />5.2 <br /> <br />0..6 <br /> <br />0.7 <br /> <br />3,473,178 <br />13,322,325 <br />w,718,573 <br />i~9,335 <br />823,018 <br /> <br /> Total <br />cveri~ppinc debt <br /> <br />522,781,894 <br /> <br />486 a2° <br /> <br />(6). <br /> <br />Relative costs and benefits of alternative uses of funds. The alternative <br />sources of funds described above are generally subjected to legal limitations <br />that prevent their use for general municipal facilities, or are earmarked for other <br />types of capital improvements. <br /> <br />(7). <br /> <br />Operating costs of proposed improvements. It is anticipated that there will <br />be an increase in operating expenditures with the construction of a new <br />Municipal Center; however it is important to note that their will be some <br />savings by having an energy-efficient HVAC system and combined <br />resources. Any additional costs will be included in future budgets. Such costs <br />are not expected to be significant, <br /> <br /> <br />