2005-09-07 SpecialPLEASE TURN OFF AT CELL PHONES & PAGERS IN COUNCIL CllAMBEllS.
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AGENDA
*Consent Agenda: Items listed under the Consent Agenda are considered routine in nature and will be enacted by a single roll call
vote. There will be no separate discussion of these items unless a Council Member or Citizen so requests. In thctt .o'eent the item will
be removed from the Consent Agenda and considered in normal sequence,
Open meeting
Discussion 'of the Docks Program fees
A. Raise fees to maintain $100,000 fund balance
B. DCACapprove fee raise
Discussion of fees for Villas on Lost Lake
Developer' s Cost Benefit. Analysis (CBA)
Staff s response m the CBA
Dredge Escrow Balance Sheet
Dock Replacement Balance Sheet
Adjourn
Pag~
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COST BENEFIT ANALYSIS
FOR THE 37 NEW
CITY OF MOUND SLIPS
AT VILLAS ON LOST LAKE
Cost Element & Cost per Slip Developer/HOA City of Mou md
Associated $ Cost per Slip ,Cost, per, Slip
Non- Recurring
Build 37 new slips $11,486 $11,486 $0
@ $425,000 (1) . ..
Dredge area for $5,270 $5,270 $0
slips @ $195,000
Mitigation for $4,054 $4,054 $0
dredge permit @
$150,000 ....
Total N/R $20,810 $20,810 . $0
Recurring .....
Annual in-out $0 $0 $0
Annual routine $175 $175 $0
maintenance @
$175/slip(2)
Weed Control @ $54 $54 $0
$2,000 (3,)
Annual inspection $25 $0 $25
@ ½ hour per slip
Annual fee per slip$300 $300 ($300)
@ $300
Annual reserve for $135 $135' $0
channel dredge @
$25,000 .(4) .
Annual reserve for $41 $41 $0
slip repair @
$1,5q0 ,,
Annual reserve for $477 $477 '$0
slip replacement
@ $353,000 (5)
Total Recurring $1,,207 $1,182 15275)
(1) Includes power, water, iow level lighting, small storage box.
(2) Includes water and electric bills.
(3) Assumes two applications per season.
(4) Assumes $200,000 channel dredge over 10 years with 25% to HOA.
(5) Assumes 20 year slip life with routine maintenance.
Notes:
a. Non- Recurring cost elements do not include the cost of the land acquisition
to make the project financially viable; if these costs were included then the
cost per slip would increase by $16,216/slip to $37,026.
b. Annual in-out costs are zero as the docks will remain in ali year round; other
docks may have costs from $250- $1,000 for their in-out component.
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Date: September 6,2005
TO: Mayor & City Council
FROM: Jim Fackler, Park Superintendent
RE: Villas on Lost Lake Cost Analysis
This memo is in response to the Cost Benefit Analysis spread sheet that provided by
the developer for Villas on Lost Lake.
In reviewing the Recurring cost listed for the Home Owner Association I have the
following comments;
1)
Annual Routine Maintenance of $175.00 per Slip.
With all the amenities that are to be provided with the Villa dock complex this cost
is to be expected. In relationship to the existing City Multiple Slip Docks these
costs are not applicable due to the City not having water, electric, storage boxes and
canopies. This expense should be reduced to minor repair such as decking.
2)
Weed Control of $54.00 per Slip.
Weed control is not performed around any of the current City Multiple Slip Docks.
This cost should not be included at all in setting the cities slip fee.
3)
Annual Inspection.
I feel the $25.00 Cost per Slip for the City of Mound is underestimated in that the
city is going to be doing Annual Reviews along with regulating a complex slip
system.
4) Annual Slip Fee of $300.00 per Slip.
This fee has not been determined.
Annual Reserve for Channel Dredge of $135.00 per Slip.
Staffhas estimated that amount needed from the Villas for a dredge in 15 years is
$75,629.00. Please see the attached spreadsheet for Projected Escrow for Dredging.
6) Annual Reserve of $41.1}0 per Slip.
This cost is based on the amenities not being provided on the City Multiple Slips.
Annual Reserve for Slip Replacement of $477.00 per Slip.
This figure is based on the replacement of a docking system that far exceeds the
current type of construction on City Multiple Slip.Docks. The spreadsheet "Dock
Replacement" is based on the developers dock system estimating the replacement in
20 years at $618,988.00. This figure is a lot higher then the $353,000 projected on
the developer. Again, this high of an expense is based on a dock system with
improvements well beyond the standard City Multiple Slip Dock.
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