Public Informational Meeting on the Proposed Joint Public Safety Facility to take place February 23, 5:30 pm, Avon Council Chambers
For Immediate Release | February 19, 2015
Contact: Preston Neill, Executive Assistant to the Town Manager
970-748-4404 | firstname.lastname@example.org
Avon, CO – On Tuesday, February 23, 2016, the Town of Avon and Eagle River Fire Protection District (ERFPD) will host a Public Meeting to discuss the proposed new joint Public Safety Facility at Lot 1B, Buck Creek Subdivision, next to the Buck Creek Medical Plaza, which is currently under construction. The Public Safety Facility is planned as the new home for the Town’s Police Department and would also function as a regional station for the Fire District. The meeting will begin at 5:30 p.m. at Avon Town Hall.
Topics for review and discussion will include a history of the project, schematic designs, estimated cost, and how each entity’s portion of the project will be financed. A Fact Sheet detailing information about the project will be made available to the public at the meeting, and concurrently posted at www.avon.org.
Police Station: The current schematic design provides for a 10,419 square foot Police Station with surface parking. The design meets the 50-year growth horizon for the department. Construction pricing for the Police Station was completed on February 12, 2016. Total cost for the building and parking, and all associated fees, is $5,400,000. In addition, the land purchase cost for the station is $852,000, for a project total of $6,252,000. Pending voter approval, construction is planned to begin as early as August of 2016, with completion by December of 2017.
The Town Council has directed staff to prepare a May 3, 2016 ballot question for Avon voters, which would approve, the use of Certificates of Participation for the needed funding. Existing taxes would be appropriated to pay the annual debt. No new taxes or tax increases will be needed. The Town specifically plans to appropriate Real Estate Transfer Taxes (RETT) for the debt; however, any current tax collected in the General Fund will be available. The Town’s RETT is committed exclusively to capital projects in the Town. Recently, Recreation Center bonds, utilizing RETT for debt service, were retired, making RETT available for redeployment for the new proposed Police Station.
Avon Regional Fire Station and Edwards Station: The ERFPD will be presenting the full project scope for the proposed stations, costs and funding program at the meeting.
After the informational meeting, the Council will convene at 7:30 p.m. into regular session to consider the following for the ballot question:
Without raising taxes, shall Ordinance No. 16.02 be approved and shall the Avon Town Council thereby be authorized to use certificate of participation financing, with a principal amount not to exceed $6.5 million, to construct a new police station facility in accordance with the terms of Ordinance No. 16-02?
Since the bond issuance will be subject to a successful election and will not close for several months, the Council is expected to set parameters of the financing in order to provide the bond underwriter with a certain amount of flexibility given the uncertainty of the bond market in the near future. At the current projected cost of the facility, annual debt service on a 20-year term would be approximately $413,000 at present interest rates. The maximum annual repayment amount, however, is being proposed not to exceed $450,000, which is staff’s recommended limit, with a maximum interest rate expected to be set at 3.50%, to allow for market changes.
Members of the public are welcome to attend to provide input and ask questions. For more information, please call 970-748-4404 or email email@example.com.
What: Public Informational Meeting – Public Safety Facility
When: February 23, 2016 | 5:30 p.m.
Where: Avon Town Council Chambers
What: Avon Town Council Meeting
When: February 23, 2016 | 7:30 p.m.
Where: Avon Town Council Chambers