HomeMy WebLinkAboutR08-Economic Development Agency
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DEVELOPMENT DEPARTMENT
OF THE CIn OF SAB BERlWlDIBO
REOUEST FOR CONlISSION/COUllCIL ACTION
From:
KENNETH J. HENDERSON
Executive Director
Subject:
MILLEDIUM MABOR
Date:
March 10, 1992
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SvnoDsis of Previous Cnmmfssion/Council/CnMMittee Actionls):
On November 26, 1991, the Housing Committee considered the Cliff Carel
proposal and referred it to the Community Development Commission. At
the Commission's December 16, 1991 meeting, the Commission considered
the proposal and requested that it be returned to the Housing
Committee for additional information, clarification and review.
The Commission again reviewed funding of the proposal at its Budget
Workshop Review held on March 7, 1992 and allocated $200,000 in tax
allocation bond proceeds for site preparation and bridge demolition.
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RecommPnded Motionls):
lC~itv Develonment CnMMtssion)
That the Community Development Commission appropriate $200,000 in twenty
percent (20X) set-aside tax allocation bond proceeds for site preparation
and bridge demolition in connection with the development of the
Millennium Manor Senior Citizen apartment complex.
C"L/C
,
Administrator
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Contact Person(s): Ken Henderson/Doris Daniels
Phone:
384-5081
Project Area(s):
Central Citv
Ward(s):
One (1)
Supporting Data Attached:
Staff ReDort
FUNDING REQUIREMENTS:
Amount: 5200.000
Source:
20" Set-Aside
Budget Authority:
Established at 3/7/92 CDC Mta
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Commission/Council Notes:
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KJH:DAD:paw:0320q
CONIISSION MBETIlIG AGENDA
Meeting Date: 03/16/92
Agenda Item No. i
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DBVBLOPMBIIT DBPARTMBIIT
OF THE CITY OF SAIl BEIIlWIDIIIO
STAFF REPORT
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"fUT.T.J/IIJITUft RABOR" SBllIOR HOUSING PROPOSAL
On three separate occasions, the Housing Committee and Community
Development Commission have considered the Cliff Carel and Associates
request for a construction loan in the amount of $1,735,000 for the
development of a 40 unit Senior Citizen apartment complex.
At its meeting of February 3, 1992, the Commission considered a
substitute motion and referred the matter back to the Housing Committee
for further review. The substitute motion recommended that no action be
taken to fund the project until the Commission had the opportunity to
prioritize various housing projects, including Millenium Manor, and
consider the financial position of the Low/Moderate Income Housing Fund.
At its Budget Review Workshop held on March 7, 1992, the Community
Development Commission prioritized various projects, including Millenium
Manor, and briefly discussed the financial position of the Low/Moderate
Income Housing Fund. Because of the Low/Moderate Housing Fund's cash
flow position and the Commission's consideration of the project for
construction financing once a detailed cash analysis has been completed
and all projects have been prioritized, the Commission allocated twenty
percent (20X) set-aside tax allocation bond proceeds in the amount of
$200,000 for site preparation and demolition of the bridge.
Based upon prior Commission action and the information provided in
Exhibit I, staff recommends adoption of the form motion.
Director
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KJH:DAD:paw:0320q
COIKlSSIOII IIBBTING AGEllDA
Meeting Date: 03/l6t?2
Agenda Item 110. ~
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Cliff R. Carel & Associates
Millennium Manor
Cash Outlay Projection
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Description
Demolition of Bridge
Rough Grading
Engineering (Bridge)
Architectural & Engineering
(On-Site, pad elevations, grading)
Demolition & Site Preparation
Construction Office
Temporary Utilities
Water Meter (Temp.)
Insurance
Payroll
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Temporary Fence
Guard Service
Labor
Focused Traffic Study/
Acoustical Analysis
Supervision
Contingency
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EXHIBIT r
(Page I of 4)
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Amount
48,900.00
38,000.00
7,600.00
27,435.00
40,000.00
2,000.00
4,150.00
4,700.00
4,000.00
2,000.00
2,400.00
1,200.00
2,000.00
6,400.00
5,000.00
4,000.00
$ 199,785.00
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Cliff R. Carel & Associates
Millennium Manor
<:) Cash Outlay Projection: Construction
General & Administrative
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Line Item
Number
I
.3
4
5
8
8a
8b
9
10
11
14
16
17
On-Site
Description
Appraisal
Construction Toilets
Equipment Rental & Repairs
Guard Service
Insurance
Builders Risk
General Liability
Misc. Utility Installation
Office Expenses
Payroll
Telephone
Temporary Water
Legal Expenses
Amount
1.175.00
1,000.00
1.600.00
3,000.00
3,476.00
5,000.00
4,940.00
2,700.00
4,000.00
9,440.00
1,000.00
750.00
1,000.00
6
7
10
11
13
14
15
16
19
20
21
Excavation & Trenching 11,000.00
Concrete Forms Incl. Patios 47,197.50
Carpenter Labor - Rough 145,296.00
Carpenter Labor - Finish 20,000.00
Window Frames & Sashes 10,000.00
Cabinets & Countertops 55,000.00
Range W/Hood & Microwave 16,040.00
Washer/Dryer & Dishwasher 45,040.00
Plumbing - Rough & Finish 95,040.00
Drain Pipe (Surface Water to Street) 300.00
Parking Lot Ribbon, Catch Basin 6,160.00
Incl. Grate
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EXHIBIT I
(Page 2 of 4)
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Cliff R. Carel & Associates
Millennium Manor
Cash Outlay Projection: Construction (continued)
Line Item
Number
Description
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22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
Wardrobe Doors
Electrical - Rough
Electrical - Finish
Parking Lot Lights (std.)
Roof Cover
Ext. Stucco. Lath & Plaster
Drywall; Acoustic
H V A C (incl. sheetmetal)
Stairways / Steps
Insulation & Soundproofing
Carpet & Linoleum
Painting. Int. & Ext.
Weatherstripping
Drapes & Verticals
Medicine Cabinets/Mirrors
Misc. Metals
Fences & Retaining Walls
Screens (Window)
Drain Tile
Landscaping
Wrought Iron/Security Gates
Asphalt Grading/Paving
Stem Walls (687 ft.)
Walk Lighting
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E X BIB I T I
(Page 3 of 4)
Amount
12.500.00
45.000.00
15.000.00
14.400.00
25.000.00
51.268.00
44.280.00
45.335.00
18.000.00
13.090.00
45.494.00
15.000.00
1.800.00
20.000.00
2.700.00
1.170.00
21.770.00
9.625.00
5.608.00
54.140.00
21.000.00
28.105.00
6.870.00
6.000.00
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Cliff R. Carel & Associates
Millennium Manor
Cash Outlay Projection: Construction (continued)
Line Item
Number
DescriPtion
46
47
Carports, 10-4 Stall
Trash Compartment (2)
incl. metal gate & concrete
Fire Hydrants (2) & Meter
Sewer Capacity Fees
Sewer Hookups/Vault/Meter
School Fees
Labor
Insurance
Supervision/General Contractor
Package Preparation, Gene Wood
Contingency ***
Developer's Fee ***
Overhead ***
48
49
50
51
52
53
55
56
57
58
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As per Obligations of Agency, Exhibit D
EXHIBIT I
(Page 4 of 4)
Amount
15,900.00
11 , 400.00
27,000.00
105,514.00
35,000.00
8,807.76
6,000.00
1,000.00
73,483.02
8,675.00
15,491.51
117,724.52
65,402.51
$1,504,707.82
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