Avon Town Council Approves May 3, 2016 Election Ballot Question to Seek Voter Approval to Finance New Police Station
For Immediate Release | February 24, 2016
Contact: Preston Neill, Executive Assistant to the Town Manager
970-748-4404 | firstname.lastname@example.org
Avon, CO – On February 23, 2016, the Avon Town Council passed a Resolution referring a ballot question concerning financing for a police station to a special election on May 3, 2016. The proposed financing is through “certificates of participation” in a principal amount not to exceed $6.5 million. The ballot question, which will be mailed to Avon voters on April 11, 2016, reads as follows:
Without raising any 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?
The proposed police station is 10,419 sq. ft., with surface parking, and is sized to meet the needs of the Avon Police Department for the next 50+ years. The size and configuration of the police station are based upon programming analysis conducted during the initial design process and based upon a review of comparable police stations in peer communities. The most current total expected cost is $6,450,000, which includes costs for construction, land acquisition, architectural and engineering fees, soft costs and bond financing. At the current projected cost of the facility, annual debt service on a 20-year term would be approximately $413,224 at present interest rates. In order to place a limitation on the certificates of participation financing, the Town Council set parameters that included a maximum annual repayment amount of $450,000 and a maximum interest rate of 3.50%, to allow for market changes.
Existing taxes would be appropriated to pay the annual debt on the proposed police station. 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 proposed police station.
The ballot question for the police station financing is coordinated with the efforts of the Eagle River Fire Protection District (ERFPD) to refer its own ballot question to its regular special district election on May 3, 2016. The ERFPD will seek voter approval for debt authorization and a supporting mill levy. Both entities are aiming to construct an Avon Joint Public Safety Facility at Lot 1B, Buck Creek Subdivision, to serve as the new home for the Town’s Police Department and also function as a regional station for the ERFPD. In order for the Avon Joint Public Safety Facility project to proceed this summer, both the Town of Avon ballot question and Eagle River Fire Protection District ballot question must receive voter approval on May 3, 2016. Should one or both of the ballot issues fail, the ERFPD and the Town of Avon will meet to evaluate how to proceed. A Factual Summary detailing information about the project and the ballot question is available at www.avon.org.
A public presentation and open forum for the proposed Avon Joint Public Safety Facility was held at Avon Town Hall on February 23, 2016. Representatives from the Town, ERFPD and Davis Partnership Architects were on hand to provide to the public a history of the project, schematic designs, estimated cost, and how each entity’s portion of the project will be financed. Additional public outreach meetings are scheduled as follows:
- Public Safety Facility Public Meeting: March 23, 2016 – 5:30 p.m. – Avon Police Department, 1 Lake Street
- Public Safety Facility Public Meeting: April 11, 2016 – 5:30 p.m. – Avon Fire Station 7, 0351 Benchmark Road
- Public Safety Facility Public Meeting: April 27, 2016 – 5:30 p.m. – Avon Police Department, 1 Lake Street
For more information, please call 970-748-4404 or email email@example.com.