Okaloosa County BOCC — October 5, 2013 — CAPITAL CONSTRUCTION PROJECTS - Financial Analysis- 10.01.2013 - ppt — reading text

$0 $266,656 $0 $274,656 $0 12,937 9/30/2015 CONTRACTS & GRANTS $33,460 $4,754 $34,464 $5,069 $35,498 $5,182 2,253 RENTS/UTILITIES IF NO CHANGE OCCURS $896,653 $61,064 $919,773 $65,192 $943,586 $66,780 TOTAL RENTS/UTILITIES W/O MOVES $896,653 $58,814 $909,033 $55,865 $758,547 $32,267 RENTS/UTILITIES WITH MOVES $886,227 $56,564 $736,454 $31,565 $0 $0 TOTAL ANNUAL SAVINGS $10,427 $2,250 $172,580 $24,300 $758,547 $32,267 SAVINGS NET RENT SAVINGS $9,302 $1,125 $160,430 $12,150 $742,414 $16,133 $912,145 net of utilities * Fiscal Years 2014 - 2016 assumes a 3% annual increase due to projected CPI ** Most leases include utilities *** FM expenses not included (estimated at $95,000/year) **** Moving Dates updated to reflect project start date changing from 09.01.2013 to 03.01.2014  SUMMARY OF DATA SUMMARY prepared 09/23/2013 ESTIMATED RENT PAYMENTS IN FY '16 (if no moves occur) $943,586 ESTIMATED RENT SAVINGS IN FY '16 (if all moves occur as shown) $912,145 Rent savings are adjusted for utilities FM expenses (custodial, grounds, maintenance) not shown est. $95,000/yr DEBT SERVICE (est.) $10 million Bank Loan with 20 years term $820,000/yr $10 million Insured Bond Issue with 30 years term $676,000/yr $11 million Bank Loan with 20 years term $902,000 $11 million Insured Bond Issue with 30 years term $743,600 $12 million Bank Loan with 20 years term $984,000 $12 million Insured Bond Issue with 30 years term $811,200 $13 million Bank Loan with 20 years term $1,066,000 $13 million Insured Bond Issur with 30 years term $878,800 $14 million Bank Loan with 20 years term $1,148,000 $14 million Insured Bond Issue with 30 years term $946,400 $15 million Bank Loan with 20 years term $1,230,000 $15 million Insured Bond Issue with 30 years term $1,014,000 LORD & SON PROJECT COST ESTIMATE – SHALIMAR SHALIMAR ANNEX PROJECT COST ESTIMATE PRESENTED BY LORD & SON on September 17, 2013 Option 1: New two-story buiding of approx. 50,000-SF $165 X 50,000-SF $8,250,000 Additional items: demolition, sitework, landscaping, telecommunications, site lighting, A/E fees, and Civil Engineering fee $1,505.00 Total - Option 1 $9,755,000 If the County elects to complete these sections of work with their forces, deduct: Demolition ($195,000) Sitework ($268,000) Landscaping ($150,000) Telecommunications ($200,000) Site Lighting ($140,000) Total Deducts ($953,000) Total Option 1 with Deducts $8,802,000 LORD & SON PROJECT COST ESTIMATE – SHALIMAR SHALIMAR ANNEX PROJECT COST ESTIMATE PRESENTED BY LORD & SON on September 17, 2013 Option 2: New three-story buiding where third floor is shelled space only: approximately 75,000-SF $165 X 50,000-SF $8,250,000 25,000-SF third floor shell 395,000 Additional items: demolition, sitework, landscaping, telecommunications, site lighting, A/E fees, and Civil Engineering fee 1,505,000 Total - Option 2 $10,150,000 If the County elects to complete these sections of work with their forces as listed in Option 1: Deduct ($953,000) Total Option 2 with Deducts $9,197,000  POSSIBLE CAPITAL PROJECTS Property Name Option 1 Option 2 Shalimar Annex new $9,755,000 new $10,150,000 Shalimar Annex renovate- L&S 10,430,000 renovate - FM/L&S <$8,000,000 Crestview Courthouse space reallignment $250,000 renovate/space mod. $6,000,000 Sheriff - Shalimar Expansion L&S $1,750,000 FM-Sheriff $1,200,000 former No. Ag Extension Office remodel $90,000 new $1,350,000 BCC Direction?