Fort Walton Beach Council agenda — 02-26-13--regular — reading text

USCS Natural Moisture Depth antl Field Test Data PL MC LL I o-° a MATERIAL DESCRIPTION SP- Gray Slightly Silty Fine SAND SM trace of Organics SP- Gray Slightly Silty Fine SAND SM Tan Fine SAND SP is 12 } 6 I, I 6 SP- Brow n Slightly Silty Fine SAND SM 9 uliIII ' lItIi i 1' III IIII 1' I it Nolee: Water Level SBGM -W Measured T Perched: Y Water Observations: The groundwater level was not encountered within the depth of our hand auger boring N- SPT Data( Blows/ Ft) P- Pocket Penetrometer( tsf) male Kee: I7 SPT I Shelby Tube SOUTHERN ERRTH SCIENCES, Inc.  4- F- 1 1. f Exhibit " A" Location Map 207 Beal Pkwy NW 11- 2S -24- 0110 -0006 -0170 City of Fort Walton Beach Planning Division Request Site  14. 1. E Exhibit " B" Zoning 207 Beal Pkwy NW 11- 2S -24- 0110 -0006 -0170 City of Fort Walton Beach Planning Division 0 200 400 Feet Scale N W E S Prepared by the city of Fort Walton Beach GIs Division Legend 1111r Cly Limits OR-1 Zoning SINGLE FAMILY RESIDENTIAL R -1E SINGLE FAMILY RESIDENTIAL ESTAT R -2 MULTI -FAMILY RESIDENTIAL YC YACHT CLUB MX -1 MIXED- USEMEDIUM MX -2 MIXED USE HIGH MS MIXED BUSINESS& MANUFACTURING CTP COMMERCE& TECHNOLOGY PARK CF COMMUNITY FACILITIES CG COMMERCIAL POD PLANNED UNIT DEVELOPMENT REC RECREATION  14.1. f Exhibit " C" Future Land Use 207 Beal Pkwy NW 11- 25 -24- 0110 -0006 -0170 City of Fort Walton Beach Planning Division I TEAKWOOD PL NW BEAL PKWY NW i Request Site L LEA9ANTS, NW 1< LL Legend TEAUGGAY ST WL L E _T C. t, Limb FUTURE LAND USE LDR LOW DENSIN RESIDENTIAL I MDR MEDIUM DENSITY RESIDENTIAL SOTIN ST NW MU - MIXED USE LOW COMMERCIAL Q r MBI - MIXED BUSINESSIINDUSTRIAL IND - INDUSTRIAL T_ I O__+ i( r 4 MI ST m DID CIVIC INSTITUTIONAL& UTILITY zl 1iMr- TNi= TII I Z REC RECREATION wl CNS- CONSERVATION en I I6 PC PRIVATE CLUB  14. 1. f Exhibit " D" Existing Land Use 207 Beal Pkwy NW 11- 2S -24- 0110 -0006 -0170 City of Fort Walton Beach Planning Division 0 200 400 Feet Scale N W E S Prepared the City of Fort Walton Beach G75 Division Legend w L City Limbs EXISTING LAND USE COMMERCIAL O EDUCATIONAL INDUSTRIAL O LOW DENSITY RES. LOW MEDIUM DENSITY RES. MEDIUM DENSITY RES. MIXED USE OFFICE PUBLIC LAND & BLOGS. PARKING O RECREATIONAL RELIGIOUS TRANSIENT LODGING UTILITIES O VACANT  14. 1. 9 CITY OF FORT WALTON BEACH NOTICE OF PUBLIC HEARING APPLICATION FOR A SUBDIVISION PLAT FOR: NIEDINAH, LLC A PUBLIC HEARING will be held by the City of Fort Walton Beach City Council, at 6: 00p.m., Tuesday, February 26, 2013, at City Hall, 107 Miracle Strip Parkway SW, in the City Council Chambers to consider the following: Application for a Subdivision Plat Medinah, LLC. ( 1. 83 acres) — " Single Family Residential' 6 -Lot Subdivision 207 Beal Parkway NW Request Site All interested parties are invited to appear at this meeting and be heard regarding the above matter. Copies of the proposed plat and related documentation may be viewed during normal business hours at the Office of the City Clerk, 107 Miracle Strip Parkway SW, Fort Walton Beach. For additional information contact Stella Jones, City Planner, (850) 833 -9697 /FAX 833 -9926. Any person who decides to appeal any decision of the City Council, with respect to any matter considered at this meeting will need a record of the proceedings, andfor such purpose, may need to ensure that a verbatim record of the proceedings is made, which record includes the testimony and evidence upon which the appeal is to be made. ( Section 286. 0105, F.S.) The City of Fort Walton Beach adheres to the Americans with Disabilities Act and will make reasonable modifications for access to this meeting upon request. Please call Helen Spencer, City Clerk at ( 850) 833 -9509  14. 1. 9 to make a request. For Hearing Impaired dial the City Hall TDD #850- 833 -9925 or 1- 800- 955- 8771( TDD) or 1- 800- 955 -8770 ( VOICE). Requests must be received at least 48 hours in advance of the meeting in order to allow the City time to provide the requested service. w r— N  14. 2 City Council of Fort Walton Beach FINANCE MEMORANDUM To: Michael D. Beedie, City Manager From: Brandy Ferris, Finance Director Date: February 26, 2013 Subject: Refunding Capital Improvement Bonds, Series 2001 1. BACKGROUND: 1. 1. In 2001, the City issued Capital Improvement Revenue Bonds of $5. 7 million, the proceeds of which were used to construct the City' s Library, Police Station, Fire Station, and City Hall renovations. 1. 2. The total outstanding amount of the 2001 Capital Improvement Revenue Bonds, $ 4. 47 million, is currently callable at par. 1. 3. Staff has been monitoring this debt for potential savings opportunities through refunding. 2. DISCUSSION: 2. 1. Based on market conditions in January 2013, it is estimated that the City could achieve approximately $ 600,000 ( 13% net present value) savings with a bank qualified loan refunding. The current issuance has interest rates between 4.4% and 5 %. Staff estimates that the refinancing could yield an interest rate of 3. 25 %. 23. PFM, one of the City' s financial advisors, and Nabors Giblin & Nickerson, the City' s bond counsel, will be representing the City during the refunding process. PFM will issue a Request for Interest Rates ( RFI) and solicit interest rate proposals from various financial institutions. As with any competitive bid, the City Council will award the RFI to the lowest, responsive responsible bidder. 3. FINANCIAL INFORMATION: 3. 1. Through the refunding, the City will save approximately $ 600, 000 over the life