HomeMy WebLinkAbout10/24/2007 - STAFF REPORTS - SS.1.September 7, 2007
PALM SPRINGS PUBLIC LIBRARY
PALM SPRINGS, CALIFORNIA
SUMMARY OF COST OPTIONS
IA, Option 1: Renovation of Existing Litirary with Existing Plan
1. Renovation of Existing Library
2. Furnishings, Equipment & Technology
3 Fees, Owner Costs & Contingencies
Total project Cost: Option 1
37,487 sf $121.74 $4,563,482
$1,055.301
$1,276.972
37,487 sf $183.95 $6,895,755
IS. ,Option 2: Renovation of Existing Library with New Plan (and seismic upgrade)
1 Renovation of Existing Library 37,487 sf
2 Furnishings, Equipment & Technology
3. Fees, Owner Costs & Contingencies
Total Project Cost: Option 2 37,487 sf
IC. Option 3: Renovation of Existing Library with Jaycees Building
1. Renovation of Existing Library
2. Renovation of Jaycees Building
3. Furnishings, Equipment & Technology
4. Fees, Owner Costs & Contingencies
Total Project Cost: Option 3
I
$188.32 $7,059,393
$1,282A97
51,719,868
$268.40 $10,061,358
37,487 sf $188,32
3,200 sf $198,12
40,687 sf $270.88
ID. Option 4; Renovation of Existing Library with JayceesBuilding and Community Room Addition
1.
Renovation of Existing Library
37,487
sf
$188.32
2.
Renovation of Jaycees Building
3,200
sf
$198,12
3.
New Community Room Addition
4,000
sf
$412.42
4.
Furnishings, Equipment & Technology
5.
Fees, Owner Costs & Contingencies
Total Project Cost: Option 4
44,687
sf
$294 37
IE.' Option 5: Renovation of Existing Library with New Programmed,Expansion and Sitework'
1. Renovation of Existing Library 37.487 sf $188 32
2. New Building Expansion 24,197 sf $33511
3. Sitework (new parking, etc.)
4. Furnishings, Equipment & Technology
5. Fees, Owner Costs & Contingencies
Total Project Cost: Option 5 61,684 sf $356.60
I
57,059,393
$633.987
$1,451.297
51,876,801
$11,021,478
I
$7,059,393
$633,987
$1,649,675
$1,640,297
$2.171,330
$13,154,682
$7,059,393
$8,103,764
$872,812
$2,505,133
$3,450,163
$21,996,265
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After careful consideration of these five options, the Library Board of
Trustees has selected to pursue a multi -year phased project, choosing
Option 4 for the following reasons:
• It would provide the opportunity for more flexible interior space
options within the current footprint, while providing the much
needed community meeting space —all without an actual
expansion.
• The free-standing community meeting space would provide
exceptional fund-raising opportunities along with naming rights.
• Choosing this option respects the fiscal reality of the City by
reusing current facilities, allowing the project to begin, and funding
the completion gently over a period of 3-5 years.
FUNDING
The Library Board of Trustees would suggest using the following Library
available funds as the base for funding:
1. The entire Library Trust Fund account currently totaling
$3,400,000.
2. A $500,000 donation from the Friends of the Palm Springs
Library.
3. All current Measure Y funds not yet expended which as of
today totals $513,886.32.
Total = $4,413,886.30
The Library Board would then request from the City to consider allocating
a total of $8,000,000 from the current bond and other resources over 3 -
5 years.
Combined total = $12,413,886.
The remaining $740,796 to $1 million needed for Option 4 would be
raised through a private fund-raising campaign.
Community Redevelopment Agency
Potential Capital Improvement Priorities
Backlrround
In September, 2007, the Community Redevelopment Agency issued Tax Allocation
Bonds to be used For capital projects. The total net bond proceeds are $20,400,000.
The Agency closed on the purchase of the sublease interest in a 9.52 acre parcel across
fxorn the Convention Center. The cost of that acquisition was $7,807,427.
The net remaining bond proceeds are $12,196,573.
Potential Capital Improvement Projects
Animal Shelter
(estimated cost, not including land). Not to exceed: $5,000,000
Library Expansion/Renovation Contribution
by Agency to
be determined.
ITEM NO. 1)5ti