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Okaloosa County BOCC — October 5, 2013 — reading text
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REDUCTION SCHEDULE (Second half of 2015 rent reductions)
MOVING DEPARTMENT 2014 UTILITIES 2015 UTILITIES 2016 UTILITIES Current
DATE BUDGET BUDGET BUDGET Sq. Ft.
12/31/2013 STATE ATTORNEY'S STORAGE $10,427 $2,250 $10,740 $2,475 $11,062 $2,670 1,500
12/31/2014 INFORMATION SYSTEMS $45,223 $6,425 $46,580 $6,851 $47,977 $7,004 3,045
12/31/2014 SHERIFF'S INVESTIGATIONS $126,000 $22,788 $126,000 $24,300 $126,000 $24,840 10,800
9/30/2015 SUPERVISOR OF ELECTIONS $68,733 $9,765 $70,795 $10,413 $72,919 $10,644 4,628
9/30/2015 INSPECTION DEPARTMENT $33,460 $4,754 $34,464 $5,069 $35,498 $5,182 2,253
9/30/2015 PLANNING DEPARTMENT $0 $0 $0 $0 $0 $0 inc. above
9/30/2015 BCC OFFICES $52,634 $7,478 $54,213 $7,974 $55,839 $8,151 3,544
9/30/2015 COUNTY ADMINISTRATOR $20,064 $2,851 $20,666 $3,040 $21,286 $3,107 1,351
9/30/2015 PROPERTY APPRIASER $247,763 $0 $255,196 $0 $262,852 $0 12,381
9/30/2015 TAX COLLECTOR $258,890 $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
Packet Pg. 285
8.1.a.c
Attachment: CAPITAL CONSTRUCTION PROJECTS - Financial Analysis- 10.01.2013 - ppt (2129 : Shalimar
LOOKING FORWARD – FY ‘16
(7) RENT REDUCTION SCHEDULE (FY '16)
MOVING DEPARTMENT 2014 UTILITIES 2015 UTILITIES 2016 UTILITIES Current
DATE BUDGET BUDGET BUDGET Sq. Ft.
12/31/2013 STATE ATTORNEY'S STORAGE $10,427 $2,250 $10,740 $2,475 $11,062 $2,670 1,500
12/31/2014 INFORMATION SYSTEMS $45,223 $6,425 $46,580 $6,851 $47,977 $7,004 3,045
12/31/2014 SHERIFF'S INVESTIGATIONS $126,000 $22,788 $126,000 $24,300 $126,000 $24,840 10,800
9/30/2015 SUPERVISOR OF ELECTIONS $68,733 $9,765 $70,795 $10,413 $72,919 $10,644 4,628
9/30/2015 INSPECTION DEPARTMENT $33,460 $4,754 $34,464 $5,069 $35,498 $5,182 2,253
9/30/2015 PLANNING DEPARTMENT $0 $0 $0 $0 $0 $0 inc. above
9/30/2015 BCC OFFICES $52,634 $7,478 $54,213 $7,974 $55,839 $8,151 3,544
9/30/2015 COUNTY ADMINISTRATOR $20,064 $2,851 $20,666 $3,040 $21,286 $3,107 1,351
9/30/2015 PROPERTY APPRIASER $247,763 $0 $255,196 $0 $262,852 $0 12,381
9/30/2015 TAX COLLECTOR $258,890 $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
Packet Pg. 286
8.1.a.c
Attachment: CAPITAL CONSTRUCTION PROJECTS - Financial Analysis- 10.01.2013 - ppt (2129 : Shalimar
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
Packet Pg. 287
8.1.a.c
Attachment: CAPITAL CONSTRUCTION PROJECTS - Financial Analysis- 10.01.2013 - ppt (2129 : Shalimar
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