The URL can be used to link to this page

Home My WebLink AboutFEBRUARY 4, 2014 WORKSHOP MINUTESCITY OF VIRGINIA BEACH "COMMUNITY FOR A LIFETIME" CITY COUNCIL MAYOR W/LL/AM D. SESSOMS, JR., A1 Lm-ge VlCE MAYOR LOU/S R. JONES, Bavside - Dish-ict 4 ROBERT M. DYER, Centervi[le - Dish-ic! 1 BARBARA M. HENLEY, Princess Anne - District 7 SHANNON DS KANE, Rose Hall - Dish•ict 3 BRAD MARTIN, P.E., At Large JOHN D. MOSS, At Lmge AMEL/A ROSS-HAMMOND, Kentpsvil/e - Distric! 2 JOHN E. UHR/N, Bendi - Dish-ict 6 ROSEMARY W/LSON, At Lnr•ge JAMES L. WOOD, Lvnnhnven -District 5 CITY COUNCIL APPOINTEES CITY MANAGER - JAMES K. SPORE C/7YATTORNEY- MARKD. STILES CITYASSESSOR - JERALD D. BANAGAN CITYAUD/TOR - LYNDON S. REMIAS C/TY CLERK - RUTH HODGES FRASER, MMC CITY COUNCIL WORKSHOP AGENDA 04 FEBRUARY 2014 1. CITY EMPLOYEE RECOGNITION - Council Chamber - CITYHALL BU/LDING 2401 COURTHOUSEDRIVE VIRGINIA BEACK, VIRGINIA 23456-8005 PHONE: (757) 385-4303 FAX (757) 385-5669 E-MAIL: ctycncl@vbgov.com II. CITY MANAGER'S BRIEFINGS - Conference Room - A. OCEANA ANNUAL REPORT Captain Christopher Chope, Commanding Officer, NAS Oceana B. CITIZEN SATISFACTION SURVEY Nanci Glassman, President, Continental Research C. VIRGINIA BEACH PROFESSIONAL BASEBALL Cindy Curtis, Deputy City Manager D. OUTLET MALLBURTON STATION UPDATE Barry Frankenfield, Director, Strategic Growth Area Office E. GOLF COURSES, SPORTPLEX and FIELD HOCKEY Michael Kalvort, Director, Parks and Recreation Deparhnent 2:45 PM 3:00 PM F. 1NTERIM FINANCIAL STATEMENT Patti Phillips, Director, Finance Department -1- VIRGINIA BEACH CITY COUNCIL Virginia Beach, Virginia February 4, 2014 Mayor William D. Sessoms, Jr., called to order the CITY COUNCIL'S WORKSHOP in the City Council Conference Room, Tuesday, February 4, 2014, at 2: 45 P.M. Council Members Present: Robert M. Dyer, Barbara M. Henley, Vice Mayor Louis R. Jones, Shannon DS Kane, Brad Martin, John D. Moss, Amelia N. Ross- Hammond, Mayor William D. Sessoms, Jr., John E. Uhrin, Rosemaiy Wilson and James L. Wood Cvuncil Members Absent: None February 4, 2014 -2- CITYEMPLOYEE RECOGNITION 2:45 P.M. Mayor Sessoms and Members of City Council expressed appreciation to those Depaf-tments and Employees for their hard work during last week's snow storm. Mayor Sessoms advised he has received numerous compliments regarding the efforts to provide Citizens safe roads to travel. Aubrey Laney, Secretary of Transportation, called and personally commended those employees who worked alongside the Virginia Department of Transportation (VDOT) cYews while they provided additional support treating and plowing roadways. Mayor Sessoms also stated he had a local reporter call him personally to commend the City's efforts to provide Citizens with safe roads. Employees worked 24 hours a day for 3 days in order to re-open the Ciry on Friday. Mayor Sessoms personally thanked each Employee and handed out the City's 50"' Anniversary Gold Coin as a token of the City's appreciation. A listing of the Departments/Employees recognized is attached and made a part of this record. February 4, 2014 PUBLIC WORKS DEPARTMENT Operations (10) Mark Johnson ? Phillip Koetter ` Julie Hannah 7) Cynthia Cebrian James Huntington Spamion Brown ? Kenyatta Adams George Smith 9 Brian Delfenthal Glenn Atwood I o Infrastructure Maintenance Administrator Operations Management Administrator Engineer IV Engineer Technician I Operations Superintendent- Streets Maintenance Supervisor Motor Equipment Operator I Motor Equipment Operator II Carpenter Supervisor (Representatives) Maintenance Engineer/Building Systems (Representatives) Fleet Mana_qement (7) Reggie Padgett 1' Jennifer Bagwell iJ Larry Forehandi3 Charles WhiteiH Elizabeth Learyi f Trent Foreman i L Jim Yost 0 Fleet Management Administrator Mechanic Supervisor Heavy Equipment Operator Mechanic U Administrative Technician Mechanic I Operations Coordinator Waste Collections (11) Sean Alston - Supervisor ? ? Robert Hatley - Supervisor 11 Dominique Greenidge - Operator d° Tim Alvers - Operator o' Barry Lang - Operator Richard Keller - Operator Shawn Fuller - Operator Michael Jordan - Operator Andrew Shurtz - Operator Calvin Sykes - Operator Randy Burnett - Operator Department Director's Office (1) Drew Lankford - Media & Communications Coordinator PUBLIC UTILITIES DEPARTMENT (5) David West - PU/Water Distribution and Water Pumping Stations Matthew Hood - PU/Meter Operations William Roberson - PU/Sewer Collection Tim Barrett - PU/Sewer Pump Stations Kenneth Williams - PU/Sewer Pump Stations 1/2 PARKS & RECREATION DEPARTMENT Landscape Services (13) Frank Fentress - Landscape Management Administrator Brian Mullen - Motor Equipment Operator I Marcia Young-Crumble - Landscape Supervisor Donny McCall - Mechanic II Woodrow Spence - Motor Equipment Operator II Will Harris - Motor Equipment Operator II Jackie Hodges - Groundskeeper I Bryan Ebron - Groundskeeper III Ethan Cason - Groundskeeper II David Walker - Operations Coordinator Sol Barton - Groundskeeper III Carmen Czako - Groundskeeper I Greg Benitez - Groundskeeper II CITY MANAGER OFFICE - MED/A AND COMMUNICATIONS (2) Marc Davis - Media and Communicator Group Manager Lise Chandler-White - Media and Communications Coordinator COMIT - MULT/ MED/A SERVICES (2) Tyler Swartz - Multimedia Communications Supervisor Barbara Morrison - Media and Communications Coordinator F/RE DEPARTMENT - EMERGENCY OPERATIONS CENTER (Z) March Marchbank - EOC Manager Erin Sutton - Emergency Planner VIRG/NIA DEPARTMENT OF TRA NSPO TA TION (1) John Jacobs - District Maintenance Engineer, Hampton Roads District 212 -3- CITY MANA GER'S BRIEFING OCEANA ANNUAL REPORT 3:00 P.M. Mayor Sessoms welcomed Captain Chope, Commanding Officer - Naval Air Station, Oceana. Captain Chope expressed his appreciation to City Council for their continued support of NAS Oceana. Captain Chope advised this is the Annual Update, which is codified in the Memorandum of Understanding, between the Navy and the City of Virginia Beach: Captain Chope assumed Command of Oceana in August. Captain Chope expressed appreciation to the City for working with the City of Chesapeake in adopting their recent Zoning Ordinances. Captain Chope advised the City has been an excellent partner in protecting the encroachments in and around Oceana as well as keeping the Navy informed of proposed zoning that could have impact on the Navy: Another Great Year A •/ assumed command of the East Coast Master Jet Base on 16 August 2013 and look forward to continuing [his great pannership. • Like Virginia Beach, Chesapeake has fully adopted Navy criteria in[o municipal zoning ordinances and now inc[udes an MOU that a[lows for joint Ciry-Navy staff review of land use proposals. Thank you for the assist on this issue. • Encroachment Pannering efforts in the ITA/RAA have exceeded e_rpectations. • The NAS Oceana/NALF Fenaess AICUZ Update is progressing through Navy channels for eventual approval by OPNAV. • Staff to staff engagement on Form Based Code, MOU update and Joint Staff Review Group has been nothing shoK of exce[lent • Joint training exercises conducted were Hazardous Material Response, Aircraft Mishap, Active Shooter nnd pnrticipt[ted in "Operntion Tidewater° tornndo table top erercise. February 4, 2014 } -4- CITY MANA GER'S BRIEFING OCEANA ANNUAL REPORT (Continued) `. Encroachment Partnering 5 ? ITA/RAA Acquisition Program This is a model for other localities to emulate in an effort to operate smartly and safely: AICUZ Update • First of its kind document • rirginia Beach/Chesapeake planners and attorneys assisted in this efforx • Captures post JLUS successes for both cities. • An up-to-date user's manua[ for what is ceHainly the most dynamic A/CUZ Program wlthin the U.S. Navy. February 4, 2014 -5- CITY MANA GER'S BRIEFING OCEANA ANNUAL REPORT (Continued) Gaptain Chope advised the Navy is scheduled to upgrade the main gate to Dam Neck and will begin in Api°il to get it to Navy's standards. This project will create traffic issues but the Navy will do their best to keep tYaffic moving and reduce negative impacts. Also, The Navy is moving two (2) Squadrons to the West Coast, approximately 500 to 600 individuals. Captain Chope advised there may or may not be another BRAC as he believes the City and Navy anti-encroachment efforts since 2005 will go a long way in keeping Oceana viable for the long term: ? t Future ? • Dam Neck Main Gate Upgrades • WesdEast Coast Strike Fighter Aircraft Split - 60 % Pacific Fleet: 2 x Super Hornet squadrons (2016) & CVW-17 (a/ready complete) homeport change to NAS Lemoore • F-35 Joint Srrike Fighter: 2024 ear[iest East Coast introduction • F/A-18C ro F/A-18E Transition • Continue onJaff base joint training exercises to include Camp Pendleton Captain Chope stated the NAS Oceana Air Show will be held this year. The show will look a little different this year but the Blue Angels are committed. However, the Super Hornet demonstration and the Friday Night Show will not take place: February 4, 2014 -6- CITY MA NA GER'S BRIEFING OCEANA ANNUAL REPORT (Continued) Captain Chope expressed his appreciation to the Ciry for their continued efforts to work jointly with NAS Oceana and he looks fonvard to many more years of continued cooperation: Mayor Sessoms expressed his appreciation to Captain Chope and the other superb Navy personnel that continue to work with the Ciry. February 4, 2014 -7- CITY MANA GER'S BRIEFING CITIZEN SATISFACTION SURVEY 3:20 P.M. Mayor Sessoms introduced and welcomed Nanci Glassman, President - Continental Research. Ms. Glassman expressed her appreciation to the City of Virginia Beach to provide the results of the 2013 Citizens' Survey, which will show how Citizens feel about Virginia Beach: Ms. Glassman provided the Methodology as to how the study is conducted. The sample is taken from a cross section of the City with most calls being made in November and early December.• February 4, 2014 -8- CITY MA NA GER'S BRIEFING CITIZEN SATISFACTION SUR VEY (Continued) Ms. Glassman provided the word scale used in the survey. She is pleased to report that nineteen (19) of the thirty (30) City Services rated above 80%.• 93.8% of those surveyed were satisfied with Ciry Services overall: February 4, 2014 -9- CITY MANA GER'S BRIEFING CITIZEN SATISFACTION SUR VEY (Continued) Six (6) Departments ranked above 95%: Six (6) items ranked between 90 and 95%: February 4, 2014 -10- CITYMANAGER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) Seven (7) items ranked between 80 and 90%. Any comments that citizens offered are recorded in the back of the report verbatim. There are a number of issues that ranked below 80%; however, it is important to note that the traffic flow should not be suprising because it is the nature of Hampton Roads: February 4, 2014 -11- CITY MANAGER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) Seven (7) of the satisfaction ratings are significantly better than the last suYVey. It is important to note that the percentage of Citizens using services are likely to rank them higher as is indicated by the "**" to the right: February 4, 2014 -12- CITY MANA GER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) In 2011, a new question was added regarding how residents prefer to receive information and, ovenvhelmingly, electronic communication is the preferred form: A total of nine (9) statements weYe provided about "Life in the City " and safety continues to be important and track very high: February 4, 2014 -13- CITY MANA GER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) Even during challenging economic times, those surveyed believe they receive good value for their City Tax Dollar. It is important to note that favorable rating for taxes never receive good ratings: The percentage of residents that think the City is a good place to live has always ranked very high: February 4, 2014 -14- CITYMANAGER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) The results were broken out by area within the City in an effort to help track where there are potential assues: Percent Satisfied With City Services Overali _...- ? 1 `°? .. ??.... ( r } .: ...r . 29fST ?? February 4, 2014 Percent Satisfied With Overaii Appearance of My Neighborhood -15- CITY MANA GER'S BRIEFING CITIZEN SATISFACTION SURVEY (Continued) Percent Satisfied With Contlition of Streets in My Neigh6orhood y } i v wzls } . s+,i} .?1L^l.. .. ? , . i_?. : .. 21i69 A question was added this year relating directly to Envision 2040: February 4, 2014 -16- CITY MANA GER'S BRIEFING CI T I ZE N S A T I S FA C T I O N S UR VE Y (Continued) Below is the demographic information of residents sus-veyed. The average age is 47.8 years old with an avey°age income of $78, 000.• Overall, Citizens feel they have a nice quality of life and feel connected: Mayor Sessoms thanked Ms. Glassman and the entire research team for their work. February 4, 2014 -17- CITY MANAGER'S BRIEFING VIRGINAI BEACHPROFESSIONAL BASEBALL 3:40 P.M. Mayor Sessoms welcomed Cindy Curtis, Deputy City Manager. Ms. Curtis expressed her appreciation to City Council and to the two (2) investment groups that have brought this proposal to the City: Princess Anne Commons Youth Baseball Compiex and Stadium City Council Briefing February 4, 2014 J Ms. Curtis provided the background as set forth below: Background January-June 2013 - Two private investment groups separately approathed the City to develop and operate a youth basebail tournament complex in Princess Anne Commons August 13, 2013 - City Council briefed in closed session. Staff diretted to proteed with seeking interest in the project through an open and competitive process. September 6, 2013 - Request For Interest & Qualifications (RFI) advertised for Youth Baseball Tournament Facility and Additional Athletic Facilities. October 7, 2013 - City received four proposals in response to RFI. • November 26, 2013 - City Council briefed in closed session on VBPB proposal. Staff is directed to begin negotiations with VBPB. Councilman Uhrin and Councilwoman Henley serve as liaisons. 2 February 4, 2014 -18- CITYMANAGER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) Ms. Curtis intYOduced and thanked the individuals that have been working so diligently on this Project; specifically, the members of Virginia Beach PYOfessional Baseball, LLC (VBPB): Project Team City of Virginia Beach lohn Uhrin, Ciry Council Barbara Henley, Ciry Council Cindy Curtiz, Deputy City Manager Alex Stiles and Debra Bryan, City Attorney Office Michael Kalvort, Director, Parks and Recreation Barbara Duke, Parks and Recreation Kevin Bennington, Parks and Recreation Nancy Helman, Sports Marketing Direc[or Nancy Leavitt, Linance Stephen White, Planning David Couch, Emnomi< Development eill Davis, Purthasing Brailzford and Dunlavey, Consultan[s Virginia Beach Professional Baseball, LLC (VBPB) veyi?t, eea?n Profevsionai 8ase0all loe Pinto Clay Dills James F. Short lohn Hawley Terry Dugan Brian Kirwin Edward Bourdon, Legal Counsel VBPB's proposal has three (3) major core focus areas: Stadium and Commercial Space, Youth Baseball Complex and Princess Anne Athletic Complex: Virginia Beach Professional Baseball Proposal Stadium and Commercial Space 5,000 seat stadium with 2,000 berm seats • The stadium Will host an independent Atlantic League Team. • Semndary [enant is the Coastal Plain League, a summer wooden bat league 60,000 s.f. office building • Prospective tenants indude Sentara and Tidewater Community College. All tenants will be restricred to sports related education and businesses. Youth Baseball Complex li lighted diamond fields (10 with artiticial tuA) • Host 30 national, regional and lo<al baseball and soft6all rournaments for youth ages 5-20 annually • Host men's and women's regional and national sokball tournaments • Communi[y league games and tournaments • Colla6ora[e with NB SOOrts Marketing and Parks and Recreation to 6ook iournaments and develop VB hotel/restauran[ packagez for participants Princess Anne Athletic Complex 4 sokball fields • VBPB to constmct four new softball fields for public use. VBPB to have ezdusive use of 12 PAAC fields for 3 weekend tournament events per year and weekday use before 3 p.m. for training, clinics and camps -19- CITY MANAGER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) Below is a map of the Princess Anne Commons Athletic Village: The stadium will host a Minor League Team, which is part of the Atlantic League of Professional Baseball Clubs. It is important to note, VBPB holds the exclusive rights to this franchise. VBPB Proposed Site Plan . ? ?t' ? q ? ??'s ? r? i ? • 13 lighred diamond fields ? A 1411 (10 w/ artficial turf) on 90 -- ? ? acres designated for econom c development in ITA master plan ) Stad um of 5,000 fized seats 71 +2,OOObermseating Z lJ ? ra gggr ?" ? j*., ? • 60,000 s.f of commerual offce sPace q?/ ?-'?' -" - ?? j? : „? • Central wooded park area f7 4 ei ?5. ? -? ? ? ?? -a ... • Playgrounds wc+° j t1r y ?? N ??' k .?R °`- • Concesswns/Res[rooms Ma ntenance hcdiry 1,100+ new parking spaces 6 February 4, 2014 -20- CITY MA NA GER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) With the addition of new fields at PAAC and the VBPB's proposed thirteen (13) fields, it will bring the total number of fields to twenty-five (25) that are in very close proximity. The City currently loses numerous tournament opportunities to the six (6) other complexes in the Region. VBPB Proposed Additional 4 Softball Fields at PAAC 12 PAAC flields plus 13 VBPB fields = 25 fields in close proximity iThe 4 new fields at PAACwill allow Parks and , " LL ^ ;_ • Recreat on to schedule an addmonal 641eague gameSMandaythroughThunday,opening Fnday night for tournament play r , By providing [he opportuniry for more Friday night toumament play, PAAC can accommodate more three day toumaments `_- ?The add¢ional 4 fields will also allow the PAAC t <3 to host 72 teams per event, a 24 team increase . er current capacity, incr asing the ren[al inwme for a[hree day event by $3,600 ] Below is the proposed Project's structure. Importantly, the only cost to the City wilZ be those associated with improvements to Landstown Road: Project Structure ,. sc.awm... soooo.J..-w. e.Kwncoma? aneanwo,i : S.OOOFhedSeM.t. Spere witlh l3fkkh . SO/tMI1RNdsatiMC. : Z.090Be?m5utln5 . LeaseTerm 30yearland1e11e 30y- lantlleau 35ye11 land1ease with 3 yea,renewals; N/A ?ryto gWe 3 y_ adva e of ?na ion.1CTOtaI lea e term not to eed 30 years. II.Pen1 NominalforlanEleased minalforlandleased nalforlanE N/A-Ownetland ie::ed overaiee W me crty II.COnatrvRionCOSI VBPBresponsibletorall VBPBresponsidetorall VBPBresponsiblefor all wrts VBPBresponsibleforali 1. OperationalCOSt VBVBresponsibk(arali VBPBresponsiElefarall VBPBresponsible(or Cilyrezponsibleforall ns costs allcorts s;VBVBallowetluseof VNPC flelds at no rental wst 3 weekendz - year pmsaav.:ero? mps/training V.RenovationanEReDair vBPBrespansibk(orall VB"esponsibleforall VBFeresponsiblefor ParksanERecreation nwatrons/repalrs wa[ions/repairs all responsibleforall nz/re ns/re J February 4, 2014 -z 1- CITYMANAGER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) Below is the Summary of Terrns: Summary of Terms Lease on Stadium/COmmercial parcel for 30 years; lease on Youth Baseball Complex Darcel for 15 years with 3 year eztensions up to a iotal of 30 years VBPB to be responsible for for all mnstruction, o0erating and maintenance costs. VBFB to be responsible for capital infrastructure renewal and revlacement at a minimum mntribution of: Years 1-5 5250.000 Years 6-30 I $350,000 Years 11-20 I $400.000 Vears 31-30 54501000 • City to make an incentive payment to VBPB equal to a portion of the admissions and real esWte taxes paid by VBPB annually at stadium and youth basehall complez, subject to appropria[ion, at the following rates: Years 1-5 85%, no wp Years 6-10 I 75%, - cap Years 11-20 60°,6, no cap • City to widen Landstown Road to serve new youth baseball complex as well as planned municipal uses on ciry-owned land within the Intertacility 7raffic Area south of Princess Anne Commons ($7.4 millian) The project team hired Brailsford and Dunlavey to conduct a Market Analysis, which shows a strong support of individuals within thirry (30) minute driving distance. 3,600 individuals are expected to attend each game: Market Analysis .? . . ..., .. . ,- 2G:4 ,.:?.... Strong market potential for both youth tournaments and stadium attendance - Over 1 Million people within 30-minute drive time - Attractive to event organizers due ro regional population, mild weather and resort deztination - Median age is 35 years, a positive indicator for fun family entertainment 8 Existing Atlantic League Teams located in New York, Pennsylvania, Maryland and Texas 2 Expansion Teams in the planning stages in Loudon County, VA and Virginia Beach, VA The new Atlantic League Team will share the market with the Norfolk Tides comfortably - Norfolk Tides area 7riple-A affilia[e of the MLB Baltimore Orioles - Norfolk Tides average attendance per year over Flve years is 389,835 people or 36% of the market - Average mafket capture rate for MiLB affiliates i5 45% - The new AHantic league team haz the opportuniry to pick up the uncaptured 9% (95,000) of the Norfolk 7ides market io February 4, 2014 -22- CITY MANA GER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) Below is the recurring economic impact, excluding the jobs for the construction phase. The baseball corraplex will support 143 full time employees and the stadium an additional 140 full time employees: •This graphic shows the cumulative recurring economic impact oJthe stadium and youth toumament omplex. It is importan[ [o note that [he above $20.8M figure does not ref/ect "displaremenY: In other words, spending within the bollpark, on items such as food and beverage ond merchandise, is largely o redistribution ojexisting entertoinment spending within the marke[ploce. A signifrcant portion oJthe spendin9 is not "net new" to [he local economy, but rather, redirected spendin9 Jrom o[her means oJ en[ertainmen[ (such os [he movie5). 11 Below is the Financial Analysis for the proposed project.• Financial Analysis Proied Cost FinancinR Stadium $21.0 Equity $6.3 Commercial 7.7 Debt Issued by 3`d Party* 43.7 easeball Complex 113 PAAC Fields 3.7 Financing Sources $50.0 Soft Costs 6_3 ? Debt will not be considered Ciry debt by rating agencies and will be non-recourse ro Ciry. An entiry will be created that will issue the debt and own the facilities; this entity will Total Project (in $50.0 lease the fatilitiez to VBPB. Piper laffray will issue private illi ns)* placement bonds. The bond sale size will include capitalized m o inrerest and other msts of issuance. ` Does not include the $7.4 M ciry mst to widen landstown Road B&D estimates that the above project costs to construM stadium and tournament fields are accurate iz FebYUary 4, 2014 -23- CITY MANA GER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) The total income and expenses for the project include all three (3) components. The primary drivers for income, as well as the majority of the variance in the analysis, is based on stadium income and expenses: Financial Analysis . ,- _ c_ o.,.i- o.., r,,.,,,, r,,,,,,,a?i- - oarr i ? ; >,? yees a . ? ? ? . ? .?_ . ToWllncome(YearS) $50,585,740 59,090,000 $1,495,760 Toca1 Expe11e1 (Year5) ($4,796,363) ($6,298,000) $1,511.637 Net Income betore Oebt• $5,199,3]] $2,792.000 $3,00]•37] rgsbe/ore?neeiest.mar,dep wtanon?- Year 5 represents a stabilized year of operation Income: VBPe>BrsilsfordandDunlavey ' Expenses: VBPB <enils(ord and Dunlavey Net Income Before Debt: VBPB > Bailsford and Dunlavey The majority of the variance of $3,007,377 is based on stadium income and eapenses The primary drivers for in<ome are sbdium attendance and number of teams participating at you[h tournament <omplex. 13 Financial Analysis _« , , Stabilized Year 5- Project Pro Forma Comparison - Part 2 NetlncomeBe/oreDebt(YearS) I 55,799,377 `.$2,]92,= DebtServitt• I I5000,000) I (531fi001000) CapRallmprovementiund I ($250,000) I (5250,ODD) 8S.6RealErta[eandAdmissionsTax I $380,000 I $380,000 InceMive'• Net Income After Dabc Serv.fce and 52.329.3]] ($676,000) Caprtailmprovemen[Fvndmes $46.SM amoniieEOt6.5%Jor30 yeors nsToa Bosedan B60 GoteNr?riO?EStimores 7he nliber of the opentor will be the greatest determirtarrt of the number of specrators that will ultimately anend events a[ the sradium and the number of teams participating at youth toumament complex. All Atlantic League fadlities are owned by public entities induding cities, countiez and redeVelopment authofitie5 and were constrUtted with public financing. Typitally, the Atlantic League tenant mntrihures only a portion (16%-3096) of equiry or debt to the projec[. The investors/lenders will be made aware of the B&D Study. 14 February 4, 2014 -24- CITY MANA GER'S BRIEFING VIRGINAI BEACH PROFESSIONAL BASEBALL (Continued) The benefits of this proposed project are numerous and identified below: Benefits of VBPB Proposal • Advances goals of Princess Anne Commons Athletic Village ? {??? • Provides new facilities, parking infrastructure and park space that are consistent with ITA and AICUZ restrictions Total direct tax revenue after incentive for the stadium, fields and commercial is estimated at $500,000 in Year 5(stabilized year) Attracts regional and national youth baseball and softball tournaments in collaboration with CVB Sports Marketing and P&R staff resulting in additional room night stays April through October for hotels in Virginia Beach • Accomplishes construction of Phase II of Princess Anne Athletic Complex (additional 4 tournament softball fields) with private funding. • Improves community recreation amenities allowing for increased utilization and enjoyment. Increases diamond field inventory to 25 within Princess Anne Commons "I Below is the potential timeline: Potential Timeline February 4, 20146rief council on summary of . terms at open informal session February 2 and February 9, 2014 -advertise for public hearing and lease bid February 11, 2014-CC to hold public hearing and wte on lease and terms . March 2014 VBVB submittal of sire plan to DSC .. ,-? April 2014 - Planning Commission will hold publi< hearing and vote on Conditional Use Permi[ and Zoning Modification May 2014- CC ro consider Conditional Use Permit and Zoning modifcation ' June 2014 Groundbreaking and start of . mnsuuction . May/lune 2015 - Fields and stadium open for play :- ?? -__- 16 February 4, 2014 -25- CITY MANA GER'S BRIEFING VIRGINAZ BEACH PROFESSIONAL BASEBALL (Continued) ThankYou Questions? January 28, 2014 Mayor Sessoms thanked Ms. Curtis and the entire team for their work on this project. February 4, 2014 City Council Closed Session Briefing -26- CITY MA NA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE 4:19 P.M. Mayor Sessoms welcomed Barry Frankenfield, Director - Strategic Growth Area Office. Mr. Frankenfield expressed his appreciation to City Council for their continued support. The City of Noifolk's proposed Simon Premium Outlets will have effects on the Burton Station SGA: Northampton Boulevard Burton Station SGA City of Norfolk Simon Premium Outlets \ , ' Rrafi. \ gi'i. . . . . . . . . . . The proposed project is adjacent to the NorfolklnteYnational Airport: , , ; , 2 ? ..? ,> ,, ...., ,. ?. ,. ? February 4, 2014 -27- CITY MANAGER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Below is the City's Vision for Northampton Boulevard within the Burton Station SGA. It is important, as the City works with the City of Norfolk and thru the Planning efforts Vision for Northampton Boulevard Burton Station SGA • Develop a seamlessly integrated development and open space that supports both cities and buffers and preserves the Burton Station Village. • Jointly support the future improvements to and with the Norfolk Airport Authority. • Provide sound planning and development guidance for the entire Northampton/Burton Station SGA. • Provide an effective internal transportation system within the SGA and determine and mitigate impacts to the adjacent major road. February 4, 2014 -zs- CITYMANAGER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Below is the existing SGA: February 4, 2014 i -29- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Contiizued) Northampton Corridor Burton Station SGA Plan Existing Land Uses Adopted SGA Plan The City has made tremendous progress on Phase 1, Burton Station Village. To-date, all properties needed are acquired, under contract or we have obtained Right-of-Entry. The City is expecting to break grvund early in 2014. Additionally, Phase 2 and 3 are each at about a 30% design level. Each have held public meetings, as well as preliminary discussion/review fi^om property owners. Finally, Wesleyan Drive intersection is expected to be complete at the end of this year: Burton Station Infrastructure Phasing ? February 4, 2014 -30- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Contiiiued) The City of Norfolk Development Authority owns appf-oximately fifty (50) acres in the City of Virginia Beach which is shown below in yellow. The Airport Authority also owns a significant amount of property which is shown below in orange. Ownership Map ??>?,? J711.1¦ i ? ?' ?? •?? _ ..: ? •,'`??? Li ?ii "? " . ,. a. t?j J Z?° ? . . 'r'? ' ., S : ? ? / U,,. • •F' Below are the existing conditions: February 4, 2014 -31- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) The City has had discussions with the City of Norfolk since last August; however, it is important to note the City has been very clear from the beginning in communicating concerns and issues. The Ciry is conimitted to engaging the Communiry, as is the City of Norfolk. The City is committed to buffering Burton Station Village and preserving as much as possible the SGA Plan. The City's goal, based on the Plan, was to build Wesleyan Drive Extension. Norfolk has made decisions to close the Golf Course so the Citv will need to revise the Plan to ensure the streets meet current and future development needs. The City of Norfolk has been very clear they want to sell the land for development, which means it will be Tax Revenue for Virginia Beach: Simon Outlets - City of Norfolk Discussions with Virginia Beach Staff - City of Virginia Beach: • Engage local community • Buffer Burton Station Village • Preserve the intentions of the SGA Plan • Build Wesleyan Drive Extended • Close Burton Station Road for Burton Station Village • Identify and revise, if necessary development opportunities • Ensure roads/streets will meet future development needs for Virginia Beach • Identity impacts and needed improvements to adjacent major roads Simon Outlets - City of Norfolk Discussions with Virginia Beach Staff - City of Norfolk: • Build/sell land for Simon Outlets • Sell remaining Norfolk owned property in Virginia Beach for retail development • Lake Wright Golf Course will be closed not relocated • Relocate Wesleyan Drive Extended • Consider cost share with Developers and City of Virginia Beach in costs of development • Expand/preserve green space and recreation opportunities • Traffic Study for access to proposed development - Lake Wright Development Briefing to Norfolk City Council January 14, 2014 (next 8 slides) -32- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) The next eight (8) slides are the exact slides that were presented to Norfolk's City Council on January 14 Simon Rrerrsium Cutlet Park ? Estimated $75 mitlion investment E- 350,000 Gross Leasabte Squarc Faatage ? Approximatelv $450 per square fioo[ in saies ?Esirmaied $135 mittion in ai?nual sa[es ?$3.3 mitkian in direct annuat city tax revenues ?57.2 mit€ion in state sates tax revenues ' 840 permanent jobs and 300 constt uctian }abs 598,523,047 per year in direct tabar incnme Integrated Qpen Space Ptan provsding pubtic recreational access, riparian benefits to wa reservoir and preservatian af open space ' Qurton Station Area ? ? February 4, 2014 -33- CITYMANAGER'S BRIEFING OUTLET MALL/BURTON STATION UPDATE (Continued) February 4, 2014 -34- CITY MANAGER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) February 4, 2014 -35- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) m 54n:on a,??tx ,75 fcr rzo ir ig ns bc cities -OorGina[e vr:rti Virginia Cteach f:ir commardty ,agemenC =^:fth ftartnn S[aiirr is(ta„e er;", E c c;?uv omv ?i T ath. Anatysis m;i; new rea? .,. Geve?cr <oc??rition 3greemen' v.ntn V9.g3.,ia. @teach [Eaoway ietJratiemenL' ? c:nc cratioriagic<i?a ;tiDiorfot'r,EDA;oStorrnwal:.ra:i!s`.a':;stewate imprr,?,•,rner?:, ? Fina[Sze desnns vrith Shriori far aut[eC mal( and open vMh ti-ginia C.l C i. ?rvr[ n? Fooridai5on r.?arcJir.s3 fi lding for of sUa? c u7iisc., 3ti in easer r ?lia? der `Opmer?t, npen space ar.d r 3v -y cnn? mr future ( u? t h S-ai[on St[ategir. G: cwth A; ea wit? 4i=g;nla 3each February 4, 2014 -36- CITY MANA GER'S BRIEFING OUTLET MALL/BURTON STATION UPDATE (Continued) Back to the presentation for today, the only things the City of Norfolk would construct in the City of Virginia Beach is a road, retention pond and parkzng lot: Concept Detail - Phase II ?. ? ? ?-. CONCE PiIIAL OVERALL SITE PIAN SP4 Phase II February 4, 2014 -37- CITY MANA GER'S BRIEFING DUTLET MALL/BURTONSTATION UPDATE (Continued) Be7ow is the comparison of the proposed Norfolk Plan and the City's SGA Plan: r. _r_al_ mi_ _I - w nl 1.V111pdi iJVll Vi Imvi ivin r iai i ai iu avr? i iai i wesleyanDrive p? Extended (as ? shown in SGA Planj `Sti° ,?{'' ??e ? A ? - - ? y, \ j y^ ° ??. ? ? tl 1?` k ? Proposed Simon ? Roadand J C`? - connecting roads ? i?• ?? ? v?E ? Pro osed BurtonStation SGA Roads J February 4, 2014 -38- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) The City of Virginia Beach has a number of issues with very little solution or options at the moment: Outstanding Issues • Impact to SGA Plan and Residential Village • Rezoning • Site Plan submittal • Traffic circulation and street network • Determine impacts and any needed improvements to Northampton Boulevard and the I-64 Interchange • Development of Norfolk owned property in the City of Virginia Beach • Public Utilities - Stormwater, Water and Sanitary Sewer • Open Space and Recreation System The City will notify the Burton Station Village residents and have a public information meeting. Should City Council direct, the SGA Plan could be Amended and before City Council for consideration in six (6) months: Residential Village and SGA Plan • Immediately notify and meet with Burton Station Village residents and property owners • Develop schedule to amend the existing SGA Plan • Hold public meetings and workshops (includes City of Norfolk) • Amend the SGA Plan February 4, 2014 -39- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) The Site Plan Review and Rezoning are under the control of the City of Virginia Beach and on schedule to be considered by the Planning Commission in March 2014: Rezoning • City of Norfolk request forRezoning submitted January 6, 2014. • Rezoning request is 62 Conditional Zoning (change from I-1) • Total area to be rezoned is 5.5 acres • Planning Commission Agenda March 2014 Li Site Plan Submittal • Preliminary review by City staff • New Simon Road subdivision road, portion to be dedicated as City ROW • Stormwater addresses Norfolk development - consider easements for future development in the City of Virginia Beach • Site plan to be submitted February 21, 2014 February 4, 2014 -40- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Noifolk submitted a traffic study, which only included the rrew development on the City of Norfolk's property. The study did not include the potential impact of other development projects, nor address I-64 improvements or connections to the City of Virginia Beach: Traffic and Circulation • Norfolk Traffic Study • Included only new retail development, does not include new development potential in Virginia Beach • Does not address improvements to I-64 Interchange and Northampton Boulevard • Does not address connections to Virginia Beach; CVB position is only one signal on Northampton Boulevard between Wesleyan and Baker Roads • Continue to work with Norfolk to address all the above issues It is important to understand what potential development is being considered: Development of Additional Norfolk Owned Property in City of Virginia Beach I ; Miller Store Road • City of Norfolk considering sale of 38 acres in Virginia Beach • Additional details needed on road development, connections and ownership • Estimated 200,000 square feet of additional retail development - i , fo ? s o? ? Po ; ! Future Retail i Development ; City of Norfolk k Property n Blvd. Nortt)amp February 4, 2014 -41- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Preliminary Site Plan -MillerStore Road - ' • Review of roads, ti ' utilities, o stormwater ? ? P • Consider 0d a stormwater easements and future stormwater ? ? . ?Future Retail ??. management C Development , City of Norfolk f Property = Northampton Blvd. The current design does not address the increased development and will need to address the future needs.• Public Utilities - Stormwater, Water and Sanitary Sewer • Determine if current design for Burton Station Phase 1 will meet future needs • Consider regional and comprehensive stormwater management • Public Utilities needs will change significantly, previously estimated based on relocation of the golf course February 4, 2014 -42- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Below is a concept of how the Open Space and Recreation Plans could work together: The first two dates are the Ciry of Norfolk's dates with the next two dates being the City of Virginia Beach's. The City of Norfolk `s goal is to begin construction in August 2014 because it must be open by Aub st 201 S: Schedule • Site Plan Submittal: February 215t, 2014 • Site Plan Approval: June 27th- 2014 • Rezoning: Planning Commission March 2014; Council April 2014 • SGA Plan Amendment: luly 2014 • Construction Start Outlet Mall: August 2014 • Outlet Mall Open: August 2015 • ALL SCHEDULES TENATIVEAND SUBJECT TO CHANGE February 4, 2014 -43- CITY MANA GER'S BRIEFING OUTLET MALL/BURTONSTATION UPDATE (Continued) Below are the next steps: N ext Ste ps • Address the "outstanding" issues including impacts to major roads • Advise Burton Station Village Residents and Owners • Schedule Public Process for SGA Plan Amendment • Review Zoning and Site Plan submittals • Advise Council of progress The Mayor thanked Mr. Frankenfield and the entire Team for their work on this project. February 4, 2014 -44- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY 5: 08 P.M. Mayor Sessoms welcomed Kevin Bennington, Sports Management Coordinator - Parks and Recreation. Mr. Bennington expressed his appreciation to the City for their continued support and is pleased to provide the update of the Public/Private Partnerships of the City-Owned Athletic Facilities: The Parks and Recreation - Sports Management Unit was established to administer athletic programs, venues and oversee contractual agreements with sports facilities owned by the City; including five (S) City Golf courses, the Sportsplex and USA Field Hockey Regional Training Center. The Sports Munagement team works closely with CVB/Sports Marketing and our management partners to host regional and national events providing economic impact through Sports Tourism. Sports Management Mission To provide athletic programs and facilities to enhance the athletic experience of our citizens and guests. • Sports Management provides contract management for the City owned Golf Courses, Sportsplex and USA Field Hockey Regional Training Center. • Works collaboratively with CVB/Sports Marketing to promote and host regional and national events in our City. February 4, 2014 -45- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Contitiued) The City of Virginia Beach Golf Courses are currently operated under three (3) lease agreements. Virginia Beach National and Stumpy Lake Golf Courses are under individual agreements, while Bow CYeek, Kempsville Greens and Red Wing Lake are combined under one (1) agreement. Each agreement pays the City a percentage of rent based on total gross revenue. City of Virginia Beach Golf Course Operations Performance Update Below is the three (3) year comparison of rounds played at each of the courses managed by Virginia Beach Golf Management: City of Virginia Beach Golf Management Performance Bow Creek 28,111 23,984 24,492 24,037 Kempsville Greens 27,257 32,536 39,081 38,678 Red Wing 32,307 40,797 40,113 38,324 Total 87,675 97,317 303,686 101,039 •* Total golf rounds of last year of City golf course operation February 4, 2014 -46- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Continued) Below is the rent paid to the City from Virginia Beach Golf Management. It is important to note, the amounts paid in 2012 were higheY because of the above average Winter temperatures. By packaging these courses into one lease, the City has created an additional $250, 000 in annual revenue: City of Virginia Beach Golf Management Performance ? Bow Greek $31,008 $54,973 $58,845 $51,707 Kempsville Greens ($194,003) $71,007 $88,197 $83,286 Red Wing $271,723 $135,714 $137;090 $133,096 Total $308,728 $261,694 $284,132 $268,089 •* Total revenue for last year of City golf course operation Below is the total rounds played and rent received from Stumpy Lake: Stumpy Lake Golf Course Performance Stumpy Lake 40,315 39,847 33,681 Stumpy Lake $116,137 $120,511 $97,697 Februaiy 4, 2014 -47- CITY MA NA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Continued) Revenue Virginia Beach Golf $270,102 $149,659 Management Stumpy Lake $97,967 $48,671 Virginia Beach National $165,547 $75,258 Total Revenue to City $807,204 The City has a management agreement with Hometown Sports Management (HSM) through 2025 for the Sportsplex and ZISA Field Hockey Regional Training Center. The usage of the facilities has dramatically increased since the management and the take-over by HSM: Sportsplex and USAFH Regional Training Center • The City has a management agreement with Hometown Sports Management (HSM) through 2025. • HSM is responsible for the supervision, management, scheduling and operation, all facility utilities, and routine maintenance/repairs of facilities and parking lots. • Parks and Recreation is responsible for all capital maintenance, repairs and replacement in excess of $10,000. • Parks and Recreation provides agreement oversight and contract management. February 4, 2014 -48- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Continued) In 2013, the USA Field Hockey Regional Training Center hosted a total of 996 games and 323 practices, with over 57, 000 players and 108, 000 spectators: USA Field Hockey Regional Training Center The City and USA Field Hockey have entered into another agreement of use for the USAFH Regional Training Center for the next four (4) years, ending in December of 2017. The quality of the fields are second to none and the facility is booked nearly every week from March to October. Below are some of the major events coming this season: USA Field Hockey Regional Training Center in 2014 February 4, 2014 -49- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Continued) In 2013, the Virginia Beach Sportsplex hosted 611 games and 383 practices, with over 135,000 players and 197, 000 spectators: HSM has successfully hosted a number of off Sk running events through the Princess Anne property, 0 adding another offering of the Sportsplex/USAFH complexes. Below are some of the major events coming in 2014: Virginia Beach Sportsplex in 2014 February 4, 2014 -50- CITY MANA GER'S BRIEFING GOLF COURSES, SPORTSPLEX and FIELD HOCKEY (Continued) None of this would be possible without the partnership between the City and HSM. Together, the City is established as the focal point of athletic activities in Southeast Virginia. Working together with CVB/Sport Marketing, the City brings athletes from around the country to play in Virginia Beach. Thr-ough these paYtnerships, the City has created facilities that Citizens can enjoy and be proud of while providing the economic benefits of sports tounsm: Moving Forward Together • Sports Management has worked together with our partners to enhance the athletic opportunities for our citizens and visitors. • Working closely with CVB/Sports Marketing we have established three-year agreements for 25 (and counting) annual tournaments held at the Princess Anne Athletic Village. Thank you! Any Questions? Mayor Sessoms expressed his appreciation to Mr. Kalvort and the entire Team for the great job they are doing. February 4, 2014 III ' -51- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT 5:22 P.M. Mayor Sessoms welcomed Patti Phillips, Director - Finance Department. Ms. Phillips expressed her appreciation to City Council for their continued support. ? ,7 7jN"?1:: ???1 ff?. oV@I V1+2W - o' ?13I1thS r • 'FY14 General Fund Revenaes • FY14 Generai Fund Expenditures . • Neact Steps February 4, 2014 -52- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) The General Fund has budgeted Revenue of $982.8-Million and Expenditures of $1,041.3-Billion for the Fiscal Year 2013-2014. Collected to date, the Revenues: $408.7-Million and Expenditures: $533.5- Million. wi (in mifilAon.l . . Annual Budeet YTD Actual Variance . Revenues Local (831% of budget) $ 816.3 $ 351.2 $(465.1) State (15.1% of budget) 148.6 48.8 (99.8) Federal ( 1.8 % of budget) 17.4 8J (8.7) Total Revenues . $ 982.3 $408.7 Sf573.61 Expenditures City Operations $ 639.4 $ .334.2 $ 305.2 SchoolOperations 401A 19943 202.1 Total 67cpenditures $1,040.8 $ 533.5 $ 507.3 LessAmounLS Funded+from Fund Balance Encumbrances/Carryforwardsat6J30/13 $ 8.2 . City and School Capital Projecrs 24.5 Schoo!'s Operating Budget 3.1 School Reversion 18.$ Thalia Siation ReviWlization 0.5 Arrears Comersion Pay 3.4 Adjus[ed Expendltures $ 982.3 Revenues do not come in equally. Revenues are at 41.6% of the estimated Revenue Budget: ?1 too.a - - - -- .4-- YTD ACTUAL = 5408.7M ANNUAL BUDGET = $982.3M 7eaw, ? s p.60%- ..__.__ _ .. . _- ._ ... . -- _ 6 ...._._ - _ .? . ,?°"..?..,....? 58.7% +Y' 41.6% -,.._- I- 45.1% 326% 42.0% . E II F?? ° ?28.1% 3- - 4..._.3% 8.5% 13.9% ?f 1.5W° a? &6% *! 4.2% Jul Aug Sep O<t Nm Dec Ian? Feb Mar Apr May Jua «r-RevTrend -fFYl4RevBUdge1 February 4, 2014 -53- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Gontinued) wi • Still need eo collect 58.4% af revenues ?"Fotal Revenue fnilaws the trend line - lncludes Tax Rclief for Eiderly & Risabied ai $14.7M - Ineludes delinquents fram prior years ? Severul items are an a 1- 2 mauCh lag • Eusiness Lieense tax (BP4L) due in March 20114 -$42.8M • 2nd Reat EsEateinstaliment due June 5, 20I4 • Lacal Annual Persc?nai Property tax due June a, 2014 -$85.2M One of the most significant Revenues for the City is Real Estate which is at 51.3% of collection: " 1• i • r? li ` . .:.... ....._ . _ _. eox swa uea.z BUDGET 4 S441.0 y435 . $423.7 5 427.1 BOX . {?oo . . . .. ... ... ... . 51.1 % 5'1.4! 5t2°.o 5'12°iu 593°!0 ? ? $300 ! C 10% U • 236.7 0 ; 224.0 218.7 225.9 219.3 ? rcSxuO X toX $100 93 so ox FVxo1o Frzo» Frm1z Fvzois Fr:o1a ??A ICOllscllon OYTD botTOWI l ..--_ . `Topl Citywide Budget of $462.4M February 4, 2014 I ' -54- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Contiizued) r . . ... ? _ . _........_ ---..._ .. ._- ---- -....__? wy I BU DGE T 5 65.2 $80 I . . $73.7 E74.7 ? $73.1 I y85.9 ? ? jgp 1 . .. .... . 557.8 . . 29.8% . 30% a ? 27.0°c U = 28.6 % o e 20.91 ? .. : so . 22.4% ... .. . . 19.8 0 . M % ? 19.6% . . 19.7 19.9 $RO 152 15.3 75.6 18.8 tox 14.4 ox so FYA08 FY1008 FY20f0 FY2011 FY2012 FYXI13 FY2014 . C?ACt IC Il.c[ianc oYtD fTOWI ? General Sales Tax is up by 4.2%from this time last year: ? • ? i . c = ? 1 { 62%UphomFYt3 BUD6ET {80 $58.0 E53.4 555.0 80% E57.7 550.3 m 84.1J 43.3% 43S! sao 1 f22 8 523.7 523.9 524.9 $22.1 . 515 =p 0% fY]010 iY2011 FY207Y FY3013 FV2014 ? Ad IG Ilxtions oYTU +% oiTOWI I February 4, 2014 -55- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) :3o $25 $25.0 .... E25.4 s24,9 . .. 44.0% B $25.1 . 43.d"o UDGE 525.7 T d3.3%? - ?Y^ '. .. SPO 39.2°e 39. 0 "le 40X a h o :$16 . ... .... . ...... U 0 ;? ... $11.0 10.9 10.9 X . SB.H S9A .:._10 .. . ' ¢ox $5 o o% $ FY207o .. FY2011 FV3072 FY2073 FY204 ?AC1ua1 COl leclioiu OYID ??Y.olTOlal ? .... • e 09_ .` :'• , , 0 f f25 .._. _.?_ ... .. . _.._ _._. ....... 80% 2.3Y Down irom FY73 $27.6 BUDGET .3 $20 E79.7 579.5 519.7 =p 40% e c 38.1 a a ? $tb 33.6"0 34.2 % 33,3% 32.3°0 0 ? U O ? S1a X 20% $1.3 57.7 $7.0 58.5 $6.4 xs .. ... . ox ? so FY2010 -- --+ iY2011 FY2012 FYM13 FY21171 iM AC1ualLOllections O- ?holTOlal i February 4, 2014 -56- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) The City continues to do well with this Tax which is a good sign that the Resort Area and hotels are doiizg well overall: 6 6 3 ? i• r• 1,? 09- 2 1 n 1.3X Up hom PY13 BUDGET 56.7 38 55.8 .. 125% $5.5 $SA '. uz u S4.4 $4.5 '. 100K ? _ $ 4 S4.1 f 59 53.8 77A 6 73 6 733 ;, 74.1 cg 75X . i3 t {4 zsx ox ? FY2010 .....FY2011 FY2014 FY2013 FY3014 ?qcl IC Ilactione OYTO ??°FofTOtal I 71X Up hom FY13 I BUDGET f30 E2Z4 tw% .. $25.8 $28.3 '?.. ? $25 . .... SY4.2... . .. . . $22.8 125% ? fM . . . 579.1 $19.3 c 0 = $17.6 $17.8 ! 700X° ? N 1 U {i6 3. 72,6% 69.3 72.5 70.4? 0 76X F K . 1 X $10 SOX ? fb 25% 0% . . So FY2070 FY2017 fY2012 fY1013 FY2071 ???ACNaICOIix??ons ttD 6%ofTO4l ..?I February 4, 2014 -57- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) The City continues to do well with this Tax and fully expects to make Budget: ? } I $32 ..? _ ?_ ------- t.lX Up from FY73 . B $35.7 $34.0 $32.3 $30.9 52.7'.6 51.6°0 52.0°,0 152AI - UDGE $37.7 --- T ... 1.8i - eox O% ?. s ? ? $za ? = $19.2 4 518.4 $17.7 - a $18.3 $18.6 K S78 YoX $6 } ? ? io FY2010 FI1011 FYtOit FV2013 FYfOU February 4, 2014 -58- CITY MANA GER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) E . a • FYZ0I4YTD ? ? Budget $ . % ? Real Fstate Taxes $ 427.1 $ 2193 51.3 %' 1 Personal Property Taxes 852 16.8 19.8 ? ? Peis. Prop. TaxReliefACt 53.4 6.5 12.2 ? General Sales Tax 58.0 24.9 43.0 ? ? Utility Taxes 25.1 10.9 43.3 ? ? Telecorrnnunications Taxes 19.7 6.4 323 ? 7 Business licenses 42.8 1.8 4.1 ? Hotel Taxes 6.1 4.5 74.1 RestaurantTarzes 37.1 192 ? 51.8 Charges for Services 60.6 252 41.5 ? Other Local Revenues 54.6 222 40J s g* State Revenues 952 423 44.4 ** ? * Federal Revenues 17.4 8.7 49J $ 982.3 $ 408J 41.6 % . ? * CF portion oni,y * % does notinclutle PP7RA portion? February 4, 2014 -59- CITY MANA GER'S BRIEFING INTERIM FWANCIAL STATEMENT (Continued) wi toox ,- - ACTUAL REVENUES = $4067M ACTUAL EXPENDITURES= 4533.5M rt? 1 n 58 -?. re r 416 -IS_I?n ; . _ _.. ----- -___ o 4W^ 3' ? °' . . r 32.6 ? 34.U4o 6 ? 2] 9 /a =ii.:?Nr ,. _. - .. . _. .. _- _ _ 2? . _ .. __- ... . . .____- - .._ . 19.49G - iG a:iry?. 15.2% '-f 11.f9h C S I.Hi'u 4.21 _ 4.3% JulAUg Sep Oft Nov Dec Ian Feb M.r r Apr May Jun E:?Trenl tu fFY RevBUdget ?ExpendlNreMnd --oofFY14Pxp8uJge[ _1 ? February 4, 2014 -60- CITY MANAGER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) wi Salanes ? FrmgeBenefits ? Opawtmg epenaes ? CapitalOutlay ? Leases, land Strunures and Iraprocements ? Debt Servke 1 ? Trensfers m Schools ? 'Itans(ers to CIP P TronskrsmSheriff ? 7ransfers Io Parks and Rec ; Tansfers to0[herAreas ? ReserveforContingencias Total Eqrendimres by Type . PercentofTOtal A ...I ,rD Acn.l BudFM Eapcnbmres [loen<umMred . S 82,672,62I $ I2I.968,064 $ 130,554,557 99,411 109 45,272 142 54,128,967 158.040,261 IM„434,693 57.W15,5(,ft 9293.XN1 6.8:I,994 2,471,016 4,556,162 2,395,N42 2,160i20 45,083,433 24,231,203 20,852,270 411,403,698 199,296.088 202,117,6111 43,293,8:6 21,711,999 21,991.837 15,677,1170 7,759,999 7,917,1171 5,112,027 2,521.691 2,590146 I,818,AI8 I.61O.867 1?7,641 4,5I9.446 - 4 WR,44(. 3 1.040.80O.861 $ 533.484.662 $ 507316.199 1110.0% 51 1 % 48.7•/. ? Tatal at December 31,2013 - $533,5M, Qr 51.3°l0, af $1.0418 Budget Summary af Actuat Fxpenditures Under Budget at june 30: (in millions Total I % of Total Budget City % of Ciry Budget SchooLs 2009 Actual $39.6 3.5°?, S24.7 3.2°'0 $14.9 2010 (Actual $453 4.1% $27.6 3.6Ro $17.7 2011 (Actual) $32.1 3.1"0 $22.4 3.2°'4 $9.7 2012 Actual $31.1 3.1°0 $15.1 2.4"b $16.0 2013 Actual $42.5 4.1°o $23.7 350 $18.8 February 4, 2014 -61- CITY MANAGER'S BRIEFING INTERIM FINANCIAL STATEMENT (Continued) • CQnsulting Budget of $470K • Etgended/Encumbered ta date of $72,471 • ]anuary Interim = Pragased FY1S Budgec • Adopted FY15 Budget Feb. 25k 2014 Mar. 25,2014 May 13, 2 014 Mayor Sessoms thanked Ms. Phillips and her entire team for their work. February 4, 2014 -62- ADJOURNMENT 1Vlayor William D. Sessoms, Jr., DECLARED the Ciry Council MeetingADJOURNED at 5:38 P.M. Amanda Finley-Barnes, CMC Chief Deputy City Clerk Pe6th Hodges Fraser, MMC City Clerk February 4, 2014