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    City Administration Building

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    Michael Klinski
    The document outlines plans for a new City Administrative Office Building in Sioux Falls. It discusses the project's goals of preparing for population growth, improving service, and strengthening collaboration. The proposed $21.9 million building would consolidate offices on one campus and have room to expand. Project funding would come from sales tax revenue bonds, which are projected to cover payments while maintaining coverage for other capital projects. The city council will consider authorizing bonds for the project in March.

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    © All Rights Reserved
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    City Administration Building

    Uploaded by

    Michael Klinski
    3K views23 pages
    The document outlines plans for a new City Administrative Office Building in Sioux Falls. It discusses the project's goals of preparing for population growth, improving service, and strengthening collaboration. The proposed $21.9 million building would consolidate offices on one campus and have room to expand. Project funding would come from sales tax revenue bonds, which are projected to cover payments while maintaining coverage for other capital projects. The city council will consider authorizing bonds for the project in March.

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    Plans for the new city administration building in Sioux Falls

    Original Title

    City administration building

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    The document outlines plans for a new City Administrative Office Building in Sioux Falls. It discusses the project's goals of preparing for population growth, improving service, and strengthening collaboration. The proposed $21.9 million building would consolidate offices on one campus and have room to expand. Project funding would come from sales tax revenue bonds, which are projected to cover payments while maintaining coverage for other capital projects. The city council will consider authorizing bonds for the project in March.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views23 pages

    City Administration Building

    Uploaded by

    Michael Klinski
    The document outlines plans for a new City Administrative Office Building in Sioux Falls. It discusses the project's goals of preparing for population growth, improving service, and strengthening collaboration. The proposed $21.9 million building would consolidate offices on one campus and have room to expand. Project funding would come from sales tax revenue bonds, which are projected to cover payments while maintaining coverage for other capital projects. The city council will consider authorizing bonds for the project in March.

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    © All Rights Reserved
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    of 23

    CITY ADMINISTRATIVE

    OFFICE BUILDING
    FEBRUARY 23, 2016

    SERVING THE COMMUNITY INTO THE FUTURE!

    WHERE WE HAVE BEEN


    2007 & 2012
    April 2015
    September 2015
    October 2015
    November 2015
    December 2015

    Space Needs Studies


    Presented project to Council
    Council Informational project update
    Council approved Koch Hazard contract
    Council approved Henry Carlson contract
    Council approved Financial advisory and
    Bond counsel services contract
    February 2016 Present design and budget to council

    CITY ADMINISTRATIVE OFFICE BUILDING

    PROJECT GOALS

    Prepare for growth


    Improve service to residents
    Maximize the taxpayer dollar
    Strengthen departmental collaboration
    Improve employee work environment

    CITY ADMINISTRATIVE OFFICE BUILDING

    300,000

    100,000

    1,656

    2000

    1600

    233,200

    1,541
    217,000

    1,314
    185,100

    150,000

    169,800

    200,000

    1,206

    1,433
    201,800

    250,000

    1,779

    250,600

    STAYING AHEAD OF GROWTH


    1800

    1400
    1200
    1000
    800
    600

    400

    50,000

    200
    0

    0
    2015

    2020
    SF Population

    2025

    2030

    2035

    Employees (based on 71/10,000 pop.)

    CITY ADMINISTRATIVE OFFICE BUILDING

    2040

    DAKOTA AVENUE CORRIDOR

    CITY ADMINISTRATIVE OFFICE BUILDING

    SITE FEATURES

    CITY ADMINISTRATIVE OFFICE BUILDING

    BUILDING FEATURES

    CITY ADMINISTRATIVE OFFICE BUILDING

    FLOOR PLAN- BASEMENT

    CITY ADMINISTRATIVE OFFICE BUILDING

    FLOOR PLAN- FIRST

    CITY ADMINISTRATIVE OFFICE BUILDING

    FLOOR PLAN- SECOND

    CITY ADMINISTRATIVE OFFICE BUILDING

    BUILDING FEATURES

    CITY ADMINISTRATIVE OFFICE BUILDING

    BUILDING IT RIGHT

    Room for growth


    Expandable
    Flexible
    Enduring quality
    Energy Efficient

    CITY ADMINISTRATIVE OFFICE BUILDING

    THE TIME IS RIGHT

    CITY ADMINISTRATIVE OFFICE BUILDING

    PROJECT BUDGET
    $21.9 Million
    Total project budget includes:
    Final design
    Building construction
    Van Eps Park improvements
    On-street parking improvements
    Dakota Avenue Corridor Signage
    Furniture, fixtures and equipment
    Legal, administration
    Contingency
    CITY ADMINISTRATIVE OFFICE BUILDING

    PROJECT FUNDING
    Sales tax bonds
    Sold by competitive bids
    Tax-exempt rates
    Maximum 20-year term
    Repaid by 2nd penny sales tax revenues

    CITY ADMINISTRATIVE OFFICE BUILDING

    PROJECT FUNDING
    Use of bond proceeds
    $21.9 Million to fund project budget
    Debt service reserve fund
    Cost of issuance
    Capitalized interest

    CITY ADMINISTRATIVE OFFICE BUILDING

    PER CAPITA DEBT


    Fargo, ND

    $4,638

    Lincoln, NE

    $4,530

    Sioux City, IA

    $3,178

    Omaha, NE

    $2,978

    Des Moines, IA

    $2,880

    Topeka, KS

    $2,774

    Rochester, MN

    $2,733

    Sioux Falls, SD (with new bonds)

    $2,382

    Sioux Falls, SD

    $2,258

    Rapid City, SD

    $2,037

    Source: PFM (November 2015)

    CITY ADMINISTRATIVE OFFICE BUILDING

    2ND PENNY SALES TAX:


    REVENUE HISTORY
    $70
    $60

    Millions

    $50
    $40
    $30
    $20
    $10
    $-

    CITY ADMINISTRATIVE OFFICE BUILDING

    Average annual increase of 6%

    Millions

    2ND PENNY SALES TAX: FUTURE


    $130
    $120
    $110
    $100
    $90
    $80
    $70
    $60
    $50
    $40
    $30
    $20
    $10
    $-

    CITY ADMINISTRATIVE OFFICE BUILDING

    Assumes 3% Annual Growth in Revenue

    2ND PENNY SALES TAX:


    DEBT SERVICE COVERAGE
    Assumes 3% Annual Growth in Revenue
    Available for Other Capital
    Existing Debt Payments

    Millions

    $130
    $120
    $110
    $100
    $90
    $80
    $70
    $60
    $50
    $40
    $30
    $20
    $10
    $-

    CITY ADMINISTRATIVE OFFICE BUILDING

    2ND PENNY SALES TAX:


    DEBT SERVICE COVERAGE WITH
    ADMINISTRATION BUILDING BONDS
    Available for Other Capital
    New Bond Payments
    Existing Debt Payments

    Millions
    Millions

    $130
    $120
    $110
    $100
    $90
    $80
    $70
    $60
    $50
    $40
    $30
    $20
    $10
    $-

    CITY ADMINISTRATIVE OFFICE BUILDING

    Assumes 3% Annual Growth in Revenue

    NEXT STEPS
    Seek Council authorization to proceed with project:
    Bond ordinance
    1st reading March 1st
    2nd reading & adoption March 8th
    If approved:
    Initiate next phase of Architect and CMAR contracts
    Bond sale process

    CITY ADMINISTRATIVE OFFICE BUILDING

    CITY ADMINSTRATIVE OFFICE BUILDING

    THANK YOU!
    QUESTIONS?

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