According to the AECOM study "the complex generated a net income of approximately $430,000 and $860,000 in 2012 and 2013." [p. 30]
I don't suppose a comparison has been made about this, but I'm wondering what the difference in income to the city would be between the civic center fixed up to ADA standards as opposed to the expanded version. In other words, would we be better or worse off, just as far as actual civic center income, with one or the other? Or is this farther in the AECOM report, since I'm only on page 30?
Saturday, February 28, 2015
Friday, February 27, 2015
Rochester, MN civic center to cost $85 million
http://www.postbulletin.com/business/knutson-likely-to-get-civic-center-construction-contract/article_de147006-697c-5938-bd01-f7cee4742a9b.html
"It looks likely that the Rochester City Council on Monday will award Knutson Construction the contract for the $85 million Mayo Civic Center renovation and expansion, which is expected to get underway in late March or early April....
In addition to the construction cost, other expenditures for the renovation and expansion project include about $2.6 million in architectural and construction coordination services and about $3.4 million for fixtures, furniture and technology equipment, Krogstad said. In addition, about $2.8 million has already been spent on Mayo Civic Center improvements, which are part of the overall project, Neumann said."
http://www.mayociviccenter.com/facilities/index.aspx
I'm just posting this for a comparison.
"It looks likely that the Rochester City Council on Monday will award Knutson Construction the contract for the $85 million Mayo Civic Center renovation and expansion, which is expected to get underway in late March or early April....
In addition to the construction cost, other expenditures for the renovation and expansion project include about $2.6 million in architectural and construction coordination services and about $3.4 million for fixtures, furniture and technology equipment, Krogstad said. In addition, about $2.8 million has already been spent on Mayo Civic Center improvements, which are part of the overall project, Neumann said."
http://www.mayociviccenter.com/facilities/index.aspx
I'm just posting this for a comparison.
200 attend forum
http://www.keloland.com/newsdetail.cfm/civic-center-expansion-emotional-issue-at-rapid-city-forum/?id=176680
"That's one thing both sides here were able to agree on. Former Mayor Alan Hanks says facility is a gem that must be maintained and improved. But he argues that the current plan, favored by Mayor Sam Kooiker but opposed by Hanks and four other former mayors, is too big, too expensive and too risky. Hanks wants a new plan.
Downtown businessman Tony DeMaro insists that the real risk is in failing to reshape the city's aging Civic Center so it can serve the community's future. Project supporters agreed with that."
Also see http://rapidcityjournal.com/news/local/in-civic-center-forum-former-rapid-city-mayor-duels-business/article_45e943ce-f5a2-5b3c-9117-250076480f6d.html
"That's one thing both sides here were able to agree on. Former Mayor Alan Hanks says facility is a gem that must be maintained and improved. But he argues that the current plan, favored by Mayor Sam Kooiker but opposed by Hanks and four other former mayors, is too big, too expensive and too risky. Hanks wants a new plan.
Downtown businessman Tony DeMaro insists that the real risk is in failing to reshape the city's aging Civic Center so it can serve the community's future. Project supporters agreed with that."
Also see http://rapidcityjournal.com/news/local/in-civic-center-forum-former-rapid-city-mayor-duels-business/article_45e943ce-f5a2-5b3c-9117-250076480f6d.html
Opinion; expansion takes city over it's borrowing limit
http://rapidcityjournal.com/news/opinion/mailbag/feb-letters/article_c56d7187-13d7-531d-9bd5-0819ad3fbc86.html
"Our Legislature sets legal debt limits for every municipality to insure residents will not be subject to excessive debt. Rapid City's limit is $212 million. Currently, we have $92 million in outstanding bonds, leaving a maximum of $120 million in bonding capacity.
The civic center expansion is projected to cost $180 million. That's $60 million (30 percent) over our legal bonding indebtedness. To pay this difference, the city will issue Certificates of Participation to investors. The city will then survey and plat that $60 million construction portion and commence a sale-leaseback with investors. Once the city repays investors, ownership reverts back to Rapid City."
Interesting point. And I agree, this is too many eggs in one basket. I'm beginning to think this is all about Sanford Premier Center envy.
"Our Legislature sets legal debt limits for every municipality to insure residents will not be subject to excessive debt. Rapid City's limit is $212 million. Currently, we have $92 million in outstanding bonds, leaving a maximum of $120 million in bonding capacity.
The civic center expansion is projected to cost $180 million. That's $60 million (30 percent) over our legal bonding indebtedness. To pay this difference, the city will issue Certificates of Participation to investors. The city will then survey and plat that $60 million construction portion and commence a sale-leaseback with investors. Once the city repays investors, ownership reverts back to Rapid City."
Interesting point. And I agree, this is too many eggs in one basket. I'm beginning to think this is all about Sanford Premier Center envy.
Thursday panel discussion; some agreement, some dispute
http://rapidcityjournal.com/news/local/civic-center-debate-thursday-two-sides-agree-on-need-for/article_ced1caf2-49e6-5c8f-84bd-b00b79b3a281.html
"The opponents Thursday night agreed that the arena needs to be updated, but they said the current plan has not been vetted thoroughly enough to ease the financial risks involved for the costliest public project in Rapid City history. If the expansion is denied March 10, the next step is developing a plan that can pass muster and pass a public vote, Wahlstrom said.
Project proponents said Thursday it is entirely possible that the $180 million option put before voters may come in over budget and require downsizing, Demaro said. In such a case, he said, the door would still be open to make the proposed arena fit the $180 million budget.
Ultimately, if the project fails during the citywide referendum, the next step would be to go back to the drawing board to find a compromise proposal that will pass, Demaro said.
'Here's what I do love about our situation right now; we talked about this, no matter what happens on March 10, we're going to get together and shake hands and put everything back together,' Demaro told the crowd of nearly 70 residents."
Also see http://www.kotatv.com/news/south-dakota-news/civic-center-expansion-helps-or-hurts-the-funding-of-other-projects/31514202
"The opponents Thursday night agreed that the arena needs to be updated, but they said the current plan has not been vetted thoroughly enough to ease the financial risks involved for the costliest public project in Rapid City history. If the expansion is denied March 10, the next step is developing a plan that can pass muster and pass a public vote, Wahlstrom said.
Project proponents said Thursday it is entirely possible that the $180 million option put before voters may come in over budget and require downsizing, Demaro said. In such a case, he said, the door would still be open to make the proposed arena fit the $180 million budget.
Ultimately, if the project fails during the citywide referendum, the next step would be to go back to the drawing board to find a compromise proposal that will pass, Demaro said.
'Here's what I do love about our situation right now; we talked about this, no matter what happens on March 10, we're going to get together and shake hands and put everything back together,' Demaro told the crowd of nearly 70 residents."
Also see http://www.kotatv.com/news/south-dakota-news/civic-center-expansion-helps-or-hurts-the-funding-of-other-projects/31514202
Thursday, February 26, 2015
former Mayor Barnett answers questions
http://rapidcityjournal.com/news/local/questions-with-former-rapid-city-mayor-don-barnett/article_79f751fa-2636-5f6c-81bf-302ce3190a17.html#.VO-sT2hmOL0.email
"Do you think citizens will vote in favor of a new arena, and why?
Absolutely. I think every neighborhood in Rapid City has benefited from the civic center during the last 40 years. The basketball tournaments and the other events: the rodeos and the concerts, the conventions, the fine arts auditorium, the symphony, so many, many users. I think without a doubt, the people know that they have a public treasure at the civic center, and I believe the people will strongly endorse what the City Council is courageously doing."
"Do you think citizens will vote in favor of a new arena, and why?
Absolutely. I think every neighborhood in Rapid City has benefited from the civic center during the last 40 years. The basketball tournaments and the other events: the rodeos and the concerts, the conventions, the fine arts auditorium, the symphony, so many, many users. I think without a doubt, the people know that they have a public treasure at the civic center, and I believe the people will strongly endorse what the City Council is courageously doing."
Letters to the editor with opposing views
http://rapidcityjournal.com/news/opinion/mailbag/feb-letters/article_f2e5e23b-162d-516d-a0af-1d960f94e1e9.html
Jerome Wright questions the motive of the Fix the Plan former mayors.
Ed Randazzo questions the method of paying for the expansion.
Jerome Wright questions the motive of the Fix the Plan former mayors.
Ed Randazzo questions the method of paying for the expansion.
Subscribe to:
Posts (Atom)