Rochelle Community Center PROV IDING ECO NO MIC, S O CIA L , A ND R ECR EATIO NA L B E NE F ITS TO RO CHE LLE
Major Park District Capital Projects • 1999 Construction of Original Bike Path • 2004 Purchase of Helms Outdoor Complex • 2007 Purchase of Helms South • 2012 Helm’s Tennis Courts • 2012 Cooper Park Shelter • 2014 Purchase of Fairways Golf Club • 2015 Powers Park Playground, Walking Path, Shelter, Parking Lot • 2016 Skare Park Driving Range Building • 2016 Construction of the Bike Path Extension to Beebe Drive • 2017 Overlay of Original Bike Path 2
Recent Capital Projects • Little League • Helm’s Football Stadium • AYSO Concession/Storage Building • Memorial Park Walking Path & Bathrooms • Spring Lake Marina Remodel • Spring Lake Equipment & Deck • Skare Park Mitigation • Connolly Park Shelter • Kids Ground & Spring Lake Park Improvements 3
Planned Capital Projects PROJEC TS DE TE R M INED BY B OA R D, STA F F, A ND CO M M IT TE ES A S PR IO R ITIES • Flannigan Park Shelter • Skare Park Clean Up • Spring Lake Bathhouse • VFW Shelter and Restrooms • Helms Track and Stadium • Tilton Park • Park System Signage • Community Center 4
Estimated Tax Rates & Tax Impact for Proposed Community Center - $14 Million Estimated Annual Debt Service for $14 million Alternate Revenue Source Bonds 20 Year Retirement $1,110,000 (1) Additional Annual General Obligation Bond $660,000 13,200 Bond Interest at 2.00% Total Principal and Interest $673,200 Estimated Tax Rate (per $100 EAV) $0.26255 ESTIMATED TAX DOLLARS FOR VARIOUS HOME VALUES Estimated EAV Homeowner Exemption Taxable EAV Estimated Tax Dollars Rochelle’s Average EAV $33,000 $6,000 $27,000 $70.89 $42,000 $6,000 $36,000 $94.52 $50,000 $6,000 $44,000 $115.52 $65,000 $6,000 $59,000 $154.90 (1) Difference (or $450,000) would come out of the planned $860,000 Series 2019 General Obligation Bond. Total Series 2019 General Obligation Bonds $80,000 $6,000 $74,000 $194.29 would be $1,520,000
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575 600 640 675 725 825 BUDGET Members Members Members Members Members Members REVENUE YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 4 YEAR 4 Memberships $261,500 $372,000 $399,300 $418,500 $448,500 $508,500 Daily Passes $8,600 $9,600 $10,200 $11,700 $11,700 $11,700 Program/Event Income $93,000 $103,500 $127,000 $128,000 $128,000 $128,000 Long Term Agreements $26,000 $26,000 $26,000 $26,000 $26,000 $26,000 Gross Revenue $389,100 $511,100 $562,500 $584,200 $614,200 $674,200 Total Payroll/Related Expenses $165,500 $165,500 $168,000 $193,000 $193,000 $193,000 Total Maint/Operating Expenses $275,250 $301,913 $360,450 $399,988 $399,988 $399,988 Liability Insurance $16,000 $16,000 $16,200 $16,200 $16,200 Contingency $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 Total Expenses $465,750 $508,413 $569,450 $633,688 $633,688 $633,688 Annual Breakeven -$76,650 $2,687 -$6,950 -$49,488 -$19,488 $40,512 15
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