hartford vt town meeting info night - joint rec bond projects status

7/22/2019 Hartford VT Town Meeting Info Night - Joint Rec Bond Projects Status

1/19

Joint RecreaProjects Upd


2/19

Joint Recreation Bond Projects Stat

Project Design Bid Started Finished Bond $

Maxfield Farm 3,100,00WABA and town shareof utility work- no East add-on

2,500,00

HMMS gym andcafeteria

900,00

Field House, KiddiePool, Pump House andschool share of utilitywork

1,690,00

Track & Turf plus fieldimprovements

800,00

Totals 8,990,00


3/19

Why were some numbers good and othe

Maxfield already designed and bid out

WABA sketch design estimated in 2010 Full design and engineering revealed significant util

Final design differs from sketch design

There was no design or engineering work in of middle school, track & turf, or Fieldhouse

Engineering expenses to date > $100K

revealed need of $1.7 million for prep work for track


4/19

Lessons Learned

Major capital projects should be designed and

engineered before developing a bond amount Example: School Bond of 2011 based on $50K engineerin

$4.5 million only $4 million was needed = everyone ha

Double any guesstimate for bond language, an

up borrowing less Example: HMMS guesstimated at 900K. 900K x 2 = $1.8 million

Project comes in at $1.5 million = everyone happy


5/19

Moving Ahead

To accomplish minimum objectives of original bo

additional $3.6 million is needed WABA east eliminated (-708K); reuse bleachers (-40

lights (-75K), black track instead of brick red (-60K)

To accomplish full objectives of original bond $4.

is needed This would include the East wing of WABA with full

full replacement of field improvements, miscellaneoimprovements


6/19

Alternatives?

Supplemental Joint bond for $3.6 million

Town could dip into emergency funds, and cut pavbudget, tap other reserve funds

Town & School could go back to drawing board oncombination Field House & WABA

School could cancel Track/Turf and Field House

Town could get out of hockey business and close W

Individual bonds from town and school


7/19

Pros and Cons

Supplemental Bond Pro: projects done well, work as investments attract

residents and new revenues

Pro: affirms town school cooperation

Pro: meets needs of all sport constituencies among r

Pro: low interest rate environment, borrowing now i

Con: tax levy impact goes from 2% to 3%

Con: if defeated creates confusion over intent of vote


8/19

Pros and Cons

Town uses existing resources to do WABAPro: Project gets done regardless of what happens with

Pro: No need to borrow more

Pro: Gives future taxpayers 20%+ break on project cos

Con: Will be stripped down version of great vision

Con: Current taxpayers foot 20%+ of project cost imm

Con: Where does tapping paving budget or emergencyrepurposing reserves end?


9/19

Pros and Cons

Town & School go back to drawing boardPro: Fieldhouse / WABA integration satisfies Hurricanfor dedicated locker rooms for football and hockey sea

Pro: Possible net savings on ideal projects

Pro: Preserves spirit of town-school cooperation

Con: Nothing settled for some time

Con: Possible additional cost to minimum projects


10/19

Pros and Cons

School cancels Track/Turf/Fieldhouse Pro: Unnecessary, grandiose scheme avoided

Pro: Frees up bonding space for more pressing capit

Con: Baseball and Hockey constituencies seen to hatrack and football to have lost, dividing town

Con: Town misses opportunity to show positive beli

Con: Future of high school back on table in regionalconsolidation discussions


11/19

Pros and Cons

Town closes WABA Pro: Oversupply of rinks in region keeps prices low,

pressure on viability of all rinks; if one closed all resstronger

Pro: If financially viable with renovation why not selcompany to run at a profit and reap tax benefits

Con: Would damage HHS hockey programs and attrof school to tuition students

Con: Creates community discord (even suggesting it


12/19

Current Thinking / Estimated Cos

School will put up $3 million supplemental bond

Town continues to discuss options

Cost of 8.9 million Joint Rec Bond of 2012 is about $600K annually for principal and interest for 20 years at 3%

4.5 cents of $2.225 tax rate

$45 per year on a $100K property

Cost of going to 12.25 million total bonding is about $842K annually for principal and interest for 20 years at 3%

6.4 cents of $2.244 tax rate

$64 per year on a 100K property


13/19

New Track and Field, Field House and W


14/19

Appendix 1: WABA Illustrations

West Addition E

Wendall A. Barwood Arena as seen from HHS/Pool


15/19

Existing WABA layout

East detail


16/19

WABA Full Renovation


17/19

West Detail


18/19

WABA concept for 2010 estimate


19/19

Town / School District Joint Recreation Projects Status and Options

Excludes Maxfield Farm sports fields complex - underway and on budget ($3.1 million of bond)

PriorityRating System

required by bond 1 must bedone, coreproject

implicitrequirement 2 must bedone, coreproject requires it

All sitework, materials, labor costs putout to bid

All design, permiting, etc. not put outto bid

protects investment 3 should bedoneto minimizefutureexpenses

cheaperto doat sametime 4 should bedone tominimizecurrent expenses

nice-to-haveadd on 5 would havebeen included in bond with perfect information last summer

Component Owner Justifica tion Notes and Comments Priority Direct Costs Related Costs Total Cost

HMMS Gym and related renovations School Recover cafeteria in anticipation of Field House having weight room This work has been finished 1 $ 1,250,000 $ 250,000 $ 1,500,000

New 8 lane rubber track with all-weather multi-purposefield at high school / middle school / ice hockey arenacampus

School Principal component of joint rec bond, now includes Fencing(100K), Field lightmove/modify(75K), move bleachers (10K), new goalposts(30K); prepare ground forinstallation (1.7 million)

1 $ 2,624,868 $ 264,000 $ 2,888,868

Misc Field Improvements School New: Press Box (25K) code req 2 $ 25,000 $ - $ 25,000

Misc Field Improvements School New: Bleachers (400K), Scoreboard (45K), Equip Storage Shed (100K) Nice-to-have improvements being foregone now 3 $ 545,000 $ - $ 545,000

Fields Utility Work Joint Required by WABA and HHS Fields Amount is 1/2 of total 2 $ 206,620 $ - $ 206,620

Green Mtn elec upgrade Joint Cost unknown, likely to be 100K +/- Amount is 1/2 of total 2 $ 50,000 $ 50,000

Field House School Principal component of joint rec bond; includes pump house/pool town portion 220K,140K bond)

1 $ 1,363,732 $ 330,000 $ 1,693,732

All items: $ 6,065,220 $ 844,000 $ 6,909,220

what school needs to come up with 1's and 2's $ 5,520,220 $ 844,000 $ 6,364,220

Wendall A Barwood Arena (WABA)- West addition only Town New West addition with 4 locker rooms to accomodate tournament play, make arenauseful year-round

1 $ 2,476,000 $ 300,000 $ 2,776,000

WABA - East addition Town Meets needs of HS hockey teams for dedicated lockers Nice-to-have improvements being foregone now 3 $ 708,000 $ 708,000

WABA Utility Work Joint Required by WABA and HHS Fields Amount is 1/2 of total 2 $ 206,620 $ - $ 206,620

Green Mtn elec upgrade Joint Cost unknown, likely to be 100K +/- Amount is 1/2 of total 2 $ 50,000 $ 50,000

WABA w/East addn $ 3,440,620 $ 300,000 $ 3,740,620

what town needs to come up with WABA no East addn $ 2,732,620 $ 300,000 $ 3,032,620

Town & School total $ 9,505,839 $ 1,144,000 $ 10,649,839

Quick Summary of Required Supplemental Funding For slide show (rounded to nearest 10K)

WABA no East plus Utility share $ 3,033,000

School projects: Field House/Pump House/Kiddie Pool and utilityshare

$ 1,951,000

Track/Turf/Field sitework and related improvements $ 2,113,868 More than anticipated; actual track and turf alone only slightly over estimate of 800K Track/T urf and improvements $ 2,914,000

Cost overrun on HMMS work $ 600,000 Unanticipated findings during construction Maxfield $ 3,100,000

Unanticipated utility work on site $ 256,620 School share of total cost HMMS $ 1,500,000

Field House / Pump House bid over estimate by $ 3,732

Total all Joint Rec Bond Projects $ 12,498,000

School portion of Joint Rec Bond project requiring funding $ 2,974,220 Bond Total $ 8,990,000

Shortfall $ 3,508,000

Appendix 2 - Spreadsheet with detailed breakout of costs

hartford vt town meeting info night - joint rec bond projects status

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