GO Bond Workshop 4-5-181
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2018 G.O. Bond Program
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Above ground costs related to Stormwater and Water/Sewer capital projects
Critical infrastructure needs in the community
Public Safety
Traffic & Mobility
Parks/Quality of Life
Resiliency/Infrastructure
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2018 G.O. Bond Program
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Still at historically low interest rates
Rising rate environment
Changes in credit rating methodology
Moody’s report
Potential downgrade(s) if climate change effects not addressed
Current credit rating is AA+
If downgraded to AA-, additional interest
of $7 to 8 million
Note: assumes $500M bond
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2018 G.O. Bond Program
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Funding for capital projects very limited
Pay-As-You-Go (PAYGO) is $2.4M annually
Most flexible funding source
Resort Tax-Quality of Life (QOL) is $2.0M annually for North, Mid, and
South
Restricted to tourist-related revenues
Capital Renewal & Replacement (CRR) is $721,000
Earmarked for extending useful life of fixed assets
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Projected Timeline
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Identify Potential Projects
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Departments have been submitting projects since December
Project list currently totals $1.1 billion
Costs will continue to be refined over time
February/March
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Prioritize Projects
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Commission workshop to provide initial direction regarding list of potential projects
Public engagement to begin in late April
Community input to help rank/prioritize projects
April/May
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Commission Review & Decisions
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Incorporate priorities/ranking of projects by the community
Discuss at Budget Workshops and other meetings
By July 25th: finalize:
Project list
Amount of overall bond program
Number
and amounts for ballot measures
Need to finalize project information for next step
Costs will continue to be refined over time
June/July
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Public Education
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Robust public engagement during three months prior to vote
Speaker’s Bureau for public meetings
Increase voter awareness
Educational materials
Voter referendum on November 6th
August/September/October
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Projected Timeline
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