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HomeMy WebLinkAboutIR 8190 INFORMAL REPORT TO CITY COUNCIL MEMBERS No.. g 1 cy) To the Mayor and Members of the City Council May 4, 1999 EX Subject: PROPOSED CAPITAL IMPROVEMENT PROGRAM AT MEADOWBROOK AND PECAN VALLEY "RIVER" GOLF COURSES On January 13, 1998 the City Council approved M&C G-16541, authorizing a $186,000 supplemental appropriation for the Golf Enterprise Fund. This appropriation , was utilized to secure a golf course architect to provide master plans and construction documents for the renovation of Pecan Valley and Meadowbrook Golf Courses. The Parks and Community Services Department/Golf Division had included these renovations in its long range capital improvement program and the need for these improvements had been confirmed through golfer surveys and reconfirmed by the consultant study conducted by American ClubServ. ForeFront Golf, the selected firm, has completed construction documents for the renovations at these two facilities. Through surveys at each golf course, golfers participated in the planning process. In addition, the Golf Advisory Committee and staff also made recommendations to the architect before final plans were developed. On April 13, 1998 staff presented the renovation plans and financing program to the City Council's Facilities and Infrastructure Committee (FIC). The FIC conditionally supported the project and directed staff to present the proposal to the City Council. On April 20, 1998 staff presented the final project plans to the Parks and Community Services Advisory Board who also endorsed the proposed project with a preference for phasing-in of the necessary fee adjustments. Funding for this project would be through Certificates of Obligation (CO) sold through the Finance Department during its next large bond sale, therefore reducing the cost of sales. The Golf Enterprise Fund has sufficient funds in their unreserved retained earnings to initially fund the Pecan Valley portion of this project. Pecan Valley will be scheduled first and Meadowbrook will be done upon completion and reopening of Pecan Valley. A contract would be issued in October 1999, to begin construction at Pecan Valley utilizinlg retained earnings. As this phase of the project nears completion, the CO's in the amount of $4,000,000 would be issued in order to fund the Meadowbrook phase of the project and to reimburse the Golf Enterprise Fund in the amount spent for Pecan Valley. In order to retire the debt, it is imperative that fee adjustments occur to insure a financially sound revenue stream to support this debt package, The Meadowbrook portion of the project is expected to begin in October 2000, however, no construction would begin until Pecan Valley is reopened. ISSUED BY THE CITY MANAGER FORT WORTH,TEXAS Because of the two golf courses at Pecan Valley, this facility would be renovated first. This would allow the Golf Division to transfer play to the other courses as well as to maintain a revenue stream from this facility. In addition, once Pecan Valley is completed and Meadowbrook is closed, staff would assist Meadowbrook golfers in obtaining tee times at Pecan Valley and our other courses. This would allow the golfers the opportunity to see what improvements have been made and what they can expect at Meadowbrook. Once Pecan Valley is reopened, a fee adjustment would be required to retire the debt service and to continue our capital program at our other golf courses. Similarly, a fee adjustment would occur at Meadowbrook when it opens. Regularly scheduled fee adjustments to address increases in operating costs, at our other courses would also continue. The FTC directed staff to review financing options to lessen the initial fee increase at Pecan Valley "River" and Meadowbrook and to determine if phasing in the proposed increases could be done on a sound financial basis. The financial strategies and options will be presented to the City Council at it work session on May 4, 1999. These renovations would bring Pecan Valley "River" and Meadowbrook golf courses up to current golf course construction and maintenance standards demanded by our golfers and enable us to more effectively compete in the market. In addition, improved playability and enhanced character and identity of the golf courses would improve the marketability of our municipal golf program and help maintain the financial stability of the Golf Enterprise Fund. Should you have any questions regarding this matter please feel free to contact Richard Zavala, Parks and Community Services Department Director. o Terrel C ity Manager A Resolution No, APPOINTING MEMBER TO THE DALLAS- FORT WORTH INTERNATIONAL AIRPORT BOARD WHEREAS, pursuant to Articles 3 and 4 of the Contract and Agreement dated as of April 15, 1968, between the Cities of Fort Worth and Dallas, the City Council of the City of Fort Worth is authorized and required to appoint by resolution qualified persons to membership on the Dallas-Fort Worth International Airport Board; and WHEREAS, Robert Kolba was duly appointed to occupy Place 7 on the Board, but he has now indicated that he is unable to continue to serve; and WHEREAS, the City Council of the City of Fort Worth has found and determined that Pete Geren is eligible for appointment to the Dallas-Fort Worth International Airport Board under said Contract and Agreement, and is not otherwise disqualified by law from holding such office; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: That Pete Geren is hereby appointed to membership on the Dallas-Fort Worth International Airport Board to occupy Place 7, effective May 7, 1999, and to serve until January 31, 2002. ADOPTED this day of May, 1999. Mayor ATTEST: City Secretary CITY OF FORT WORTH