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Fort Walton Beach Council agenda — 02-26-13--regular — reading text
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To: Michael D. Beedie, City Manager
From: Brandy Ferris, Finance Director
Date: February 26, 2013
Subject: 2013 -08 Recreation Center Financing
1. BACKGROUND:
1. 1. On October 23, 2012, City Council authorized Staff to:
1. 1. L Move forward with the proposed consolidation of recreation facilities and
development of the new City of Fort Walton Beach Recreation Complex;
1. 1. 1 Move forward with hiring an independent Property Manager to evaluate
existing City -owned facilities, properties, and leases to provide
recommendations to address revenue generation opportunities; and
1. 1. 3. Develop a sponsorship program for the City of Fort Walton Beach Recreation
Complex through a partnership with the Chamber of Commerce.
2. DISCUSSION:
2. 1. Staff is in the process of working with DC Architects, Inc. and Lord & Son
Construction, Inc. to develop the drawings for the new Recreation Complex. The 90%
design drawings were received from DC Architects on February 15' s.
2. 2. Contract negotiations are currently in progress with NBI Properties, Inc. to evaluate
some of the City' s existing properties for revenue generation opportunities. The initial
evaluations will be completed by NBI by the end of March, and the information will be
brought to City Council to determine future direction.
2. 3. Staff has discussed developing a sponsorship program with the Chamber of Commerce.
A draft sponsorship brochure has been developed and is currently in the final review
stage.
2. 4. The options for funding the new Recreation Complex consist of:
2. 4. 1. Generating non -recurring revenue through the disposal of existing City -owned
facilities and properties;
2. 4.2. Generating additional recurring revenue through the evaluation of existing and
potential leases of