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HomeMy WebLinkAbout1992-01-14 Park Board PacketCity of Edina EDINA PARK BOARD 7:30 p.m. January 14, 1992 MANAGER'S CONFERENCE ROOM A G E N D A 1. Approval of the November 25, 1991 Minutes 2. Approval of the December 10, 1991 Minutes 3. Athletic Association Fundraisers 4. Non -Resident Participation and Fees 5. Tree Report 6. Other City Hall (612) 927-8861 4801 WEST 50TH STREET FAX (612) 927-7645 EDINA, MINNESOTA 55424-1394 TDD (612) 927-5461 RECOMMENDED QUESTIONS FOR EDINA ATHLETIC ASSOCIATIONS SURVEY Introduction The Edina City Council has asked the Edina Park Board to make recommendations to the City Council with regards to establishing guidelines for acceptable Edina youth athletic association fund-raisers. Therefore, the Edina Park Board needs some important information from each youth athletic association in order to make recommendations that are reasonable and equitable guidelines based on fact. SURVEY 1. Name of the youth athletic association: 2. Total number of participants in 1991 3. Total annual expenses in 1991 4. Total annual income in 1991 5. Percentage of total income raised through registration fees in 1991 6. Percentage of total income raised through fund-raisers in 1991 7. Please list all means of fund-raisers and their dollar amounts used by this youth athletic association and/or by individual teams in 1991 (examples would include items such as interest income from savings, investments, pizza sales, concessions operations, raffles etc.): a. amount: b. amount: C. d. amount: amount: e. amount: f. amount: g. amount: 8. Please list all other types of fund-raisers (besides those used in 1991) that have been used by this youth athletic association in previous years: a. b. C. d. e. 9. Please list other types of fund-raisers (besides those listed under questions 07 and 08) that this youth athletic association is considering to use in the future: a. IM C. p 10. How many requests for grant-in-aid support did this youth athletic association receive in 1991? 11. How many requests were honored and paid by this youth athletic association in 1991? # 12. What was the total dollar amount given to grant-in-aid applicants in 1991? 13. In your opinion, are the number of applicants for grant-in-aid: (please check one) [] On the increase [] On the decrease [] Stabilized E.G.A.A. 1990 - 1991 (8-1-90 - 7-31-91) Bank Balance as of 7-31-91 Checking Savings C.D. $ 523.55 16,711.24 6,071.09 $23,305.58 Income Expenses Net Sub -Total Flag Football 3,344.00 3,652.98 <308.98> Basketball 11,372.50 8.982.73 2,389.77 Fall Clinic 2,937.00 1,400.00 1,537.00 Total Basketball 14,309.50 10,382.73 3,926.77 3,926.77 Traveling Basketball 9,386.43 12,787.51 <3,401.08> Tournament 22,773.97 12,984.54 9,789.43 Summer Clinic 2,478.00 2,466.64 11.36 Total Traveling B.B. 34,638.40 28,238.69 6,399.71 6,399.71 Volleyball 6,745.25 6,515.95 229.30 Tennis 1,660.00 1,716.40 <56.40> Association 1,157.64 2,208.58 <1,050.94> "Total" 61,854.79 52,715.33 9,139.46 Bank Balance as of 7-31-91 Checking Savings C.D. $ 523.55 16,711.24 6,071.09 $23,305.58 EDINA BASEBALL ASSOCIATION FINANCIAL STATEMENTS EXPENSES Equipment/Uniforms Umpires Program Expenses Tournaments/Awards Insurance Travel Teams Coaches/Players' Clinic Miscellaneous TOTAL EXPENSES Net Income <Expense> for Year: 23,337 FYE Budget FYE Budget 11,780 12/31/91 1991 12/31/90 1992 INCOME 18,000 16,849 20,000 Registration/Surcharges 61,670 66,000 60,650 64,000 Sponsors 12,300 10,000 13,000 10,000 Tournaments 8,927 7,500 6,921 9,000 Concessions 8,783 7,000 6,832 8,800 Coaches/Players' Clinic 0 942 3,840 0 Miscellaneous 0 87,4491 600 0 Interest 1,536 1,500 1,470 1,200 TOTAL INCOME 93,216 92,000 93,313 93,000 EXPENSES Equipment/Uniforms Umpires Program Expenses Tournaments/Awards Insurance Travel Teams Coaches/Players' Clinic Miscellaneous TOTAL EXPENSES Net Income <Expense> for Year: 23,337 30,000 35,284 40,000 11,780 12,000 11,210 12,000 21,889 18,000 16,849 20,000 6,839 7,000 5,697 7,000 5,044 5,000 4,532 6,000 12,071 8,500 7,892 14,000 3,373 4,000 5,043 3,500 399 1,000 942 500 84,732 85,500 87,4491 103,000 8,484 Cash Balances: Norwest Checking Marquette CD 6,500 5,8641 <10,000> 15,626 5,471 21,097 1,01424� Z/// -t2 - Treasurer Edina Football Association 1989 Budget/Actual '89 Budget '89 Actual Income Revenue (Registration, Tapes, Hats) $25,360.00 $29,973.00 Interest $ 50.0.00 $ 599.54 Total $25,860.00 $30,572,54 Expenses Jerseys $ 9,500.00 $ 8,847.84 Equipment $ 600.00 $ 546.61 Personnel $ 5,750.00 $ 7,210.30 Recognition $ 2,800.00 $ 3,425.00 Printing/Postage $ 600.00 $ 2,799.97 Promotion $ 750.00 $ 695.80 NYSCA $ 500.00 $ 155.00 User Fee $ 2,560.00 $ 2,990.00 Bleachers $ 11000.00 $ 11000.00 Misc. $ 300.00 $ 676.49 Scholarships/Refund ---- $ 341.00 Championship Tape ---- $ 611.10 $24,400.00 $29,299.11 Cash in Bank 01/01/89 $2,967.03 Surplus from '89 Season $1.,273.43 Current Balance $4,240.46 1 c Ua II mr:' 1(f70 OC0R8 800008708 p 00N 881 Rm N'r�810 14ri Go rn r'OINrnn m 0 'm cN ' c7 N211 [� 1 m N , n � r J C7 a I I 1 n Q 8tp8pmmm(p OmoomO m (pp 000.00 On 00pp�c�77 ¢}m rD (7 m �pp petit) u .m 80m0Nm (O^ I N O a v8 8 ^mN8(7 rNONN i N mr8 ml SrnrO(D 81b -om1 ret r In m In v n I I I N I 1 I nr ri m�m11�¢�8081 , yl BoWou c�08`�^c`PR88i��R� 0 7 1 R o S"gwir �mmmml8 ny m ^ ^ r 115 0 0 r I N r r� r r r W r N (O IIj I r W W NNr m I "1 O N O r (7 h 17 N I (D m 0 r^ Q I N c7 I m m r .- , m "' vi co I I I E i 000 000000000 i o 0 000000000000000000 ; a ¢ 001`0153 14ii�e4'i�m1� N I I I W r r� r m m I 1 1 I 1 I Nm: _O _ON O N N_O W O O N O O O m p Ommm 177 000¢1 E a SiZS n 8 I Rr(7 7m3 8 VCUD) 8 Rlvc�r 43 I ¢7 m2 l2 m 4'r7r Wr' 8 N m m m N (' 7 1 (7 r m 1 U N N 0 m I D I 0 V- V Q N t�p m I 0mr 1 0 m N m 10 m I i t I N I 1 I E n.-irr. u7pp In lnmm000 m ppm¢7o¢70 o pnmpp CO)0 ooc�Jm m (� Fz m 01UNNpu7 u7pu7oo u7 �Q o m c7 m n I O N m O v 0 m 8 8 N N m r N m 1D N I ('7 N O m r n r 1771 [7 8 r 1n r ¢� r [V j5 1 WO O W NNr mr I m v 01 :1 O r(7r17 N I m ¢7 r r I r r' C: lU ai a I N m I m (7 r r I m M mm 0 I I I I I I 3N i 000 00000000010 08000000000000000000 ; m w om1L7O1^7SIc2 4'i�43�a�oSA ��SS o mm I I I (p m I I I r a I I I N¢7 pp00_N 0 N pp1D00 W O O No o OOpOI O S mm m S Olt)It2SpN Om I¢7-10 m�Q I (7 N SN177 n 80 I N17 pm8¢77Nm NVN S I O S mr Nrinm N O I(I N m m m N (7 (h I m r m I D N N 0(D 1! 7 1 co 0 0 r 0 N 3 m 1 v m r r I N CO N c7 1 0 'a y 1 I P I r N (L I p p I O ll)1t)In OD O 8 O , m Om NON808S^0N8l70OOl7 In to , m � m Om m mSIIn O1t)¢7 N tfi O ¢7 aQ m f� nf0 n 1()117 M n o Nm 000 N .-(V fO lt) N M N O .-0 r n O co I r CD W N N r m r I S 0 v I O r 17 7� (7 N I (D 1D r 1() r 1D 3m Q I cm m I m 17 r r , co I I I I ^ CL I (p I O I 1 q N W 7 8 N m O 1D O ®O 8 0 m m 8 8 gi 0 (7 m m�1D r, 0 N 8 0 m SILO S N O Tt) C S I S O µ� C I m r W n n 0 0 m I 0 m N N v 0 m r W Jm I 00N N I m r CO 1 I r� W I I N I N r et I 7ND p m p I pp �(pp pppo 1 co (D � in 1N S 0 8 O^ , 0 � O7 O 0 0 N 0 8 0^ N N 8 8 0 0 N (ND L N I 1N v 8 8 0 0 m 1() S S 0 8 N CSI � Doi C I n W NNr mr I (7 0 r 0 r N17 r N 11? 0 r r r�0 r r M T¢ I —CO I n (o r r I h N I 1 � {��yl^ r pg �Fpa.pm m ogn og go m n N !G tai f7 1 iBPiN�� aoa 8 g . 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W Oj Q f I I I I 1 i i H v� ef-. t[� .gyp v r,.N N {V N N N.NN N N vi w 4Y 06 N I I -7 N .- .- -7 -74 f7 1 I I I I I I 42I N L L rd N LU rn 2 I E l 8 a C N LL V a 2 I 4 �° I �5 N �.IL 9's u QQ Z W> F �' `8 I W v a l Cpd �� W I N CD YC I I N Or n u>l I� ❑� 5 Q Imc W c INL J'O`U-OQNO� Wim¢ IWC amQCmlTmLL(7U P. a ¥ \ E-_- � |«Z E \%§ 0 6. � -` \ % \] \ C)i \) @ E k7§ \ ] § $ 2 a)= § & / k mco P. 1991 1992 YR -TO -DATE ACTUAL APPROVED APRIL **** EXPENSES **** EQUIPMENT -BOOKS/BALLS 127.16 275.00 -PERMANENT EQUIP' 78.07 200.00 -UMPIRE EQUIP. 30.75 35.00 -FIRST AID 61.33 75.00 -MANUALS 19.77 25.00 USER'S FEES 1390.00 1500.00 INSURANCE 93.83 103.00 103.00 TROPHIES 893.10 925.00 PHOTOS 720.50 800.00 UMPIRES 1232.10 1600.00 -CLINIC 35.00 100.00 UNIFORMS 1681.50 1800.O0 -CLINIC 318.75 375.00 PUBLICITY -PRINTING 69.95 85.00 246.29 -POSTAGE 257.50 300.00 259.79 -LABELS 24.77 40.00 -SERVICES 0.00 100.00 133.82 -NEWSLETTER 206.90 225.00 GRANTS-IN-AID 0.00 180.00 90.00 CLINIC 1000.00 1250.00 100.00 NYSCA 330.00 360.00 MISC. 30.51 150.00 61.04 � VOL. BANQUET 36.00 36.00 GIFTS 114.03 150.00 EXPENSE TOTALS 8751.5 2 10 689.00 993.94 **** INCOME **** REGISTRATION 8225.00 9000.00 8345.00 CLINIC 1650.00 1875.00 1125.00 INTEREST ________________________________________________________ 192.72 200.0O 25.42 INCOME TOTALS ---------------------------------------------------------- _______________________________________________________NET 10067.72 11075.00 9495.42 ~ NETAMOUNT 1316.20 386.00 8501.4B . ' � ^ - iio8, 016,024 10-2, C 40, 048, (ir-6, i�64, 072. EDINA SWIM CLUB 1991-92 BUDGET 09/11/91 06:58 PM INCOME -- :1'4,000 $4,000 Last Year $53, .:110 Fall /Winter Spr/Summer Total ($ 000, S) ----------------------------------------------------------------------------- Dues $42,150 $32,140 $74,290 $64.4 Family Fund Raising Z'41560 :V.4, 240 $8,800 $8.0 Interest $100 $100 Z-200 X0.7 StroE es Class T1,000 1,000 1.9 Q $0.4 Fund Raising Poinsettias X1,500 -- $1,500 X0.4 1 Swi mathon -- - - - - - $4 (--)0(:) -- $4, OoO $3.. 6 Aquatennial -- X-9,000 $9,0009.0 Other -- -- -r-0 -- Learn to Swim -- :1'4,000 $4,000 TOTAL INCOME ** $53, .:110 $50,480 $103,790 $ 9• 'XPENSES (See page 2) #58,0c)o s38,00o T-96,000 CASH FLOW (:4,690) $12,480 $7,790 *�c Includes Owimathon or Other Fund Raiser Salaries, FICA, Ins, Benefits,... EDINA SWIM CLUB 1991-92 BUDGET EXPENSES Low ----------------- «60,720 Pool Coaches Travel, Training, Expenses --Incl J -O $5,500 Swim Supplies $240 Board MSI Registration $400 ADP & Phones xI,dd0 Rent Office Supplies, (ostage, copying One-time item, mise. Sub -Total Billin Iniatiation/ Cleanup Billing --Ongoing $2,760 $2,100 $86,720 $500 $1,200 $88,420 09/11/91 06=58 RM Medium ` High ------------------------- $64,130 $67,540 $14,250 $15,000 $5,900 $240 $400 $1,500 $2,760 $3,300 $92,480 $750 2,400 $95,630 $2,760 «4,500 $98,240 $1,000 $3,600 $!02,840 Last Year $12,429 ESA9192 EDINA SOCCER ASSOCIATION A114 FISAL YEAR 1992 DRAFT BUDGET OCT. 1, 1991 THROUGH SEPT. 30, 1992 ----------------------- ----------------------- REVENUES REGISTRATION FEES $85,000 INTEREST INCOME 250 REGISTRATION - LATE FEES 0 REFUNDS 0 TOTAL REVENUES $85,250 EXPENSES TRAVELING (FEE TRANSFER) 11,760 INDOOR TRAINING - SOCCER EDINA 4,200 UNIFORMS & SOCCER BALLS 12,400 1992 FIELD USE FEE (FACILITY USE) 8,500 REFEREES 10,200 SCHEDULER 2,500 U - 6 8,148 U - 8 6,058 MYSA FEES 5,257 PUBLICITY 2,350 REGISTRATION 960 COACHES 1,055 ENTERTAINMENT 2,369 TROPHIES 5,360 EDUCATION/CAMPS 300 COMMISSIONERS 300 FIRST AID SUPPLIES 100 COMPUTER SUPPLIES 200 COMPUTER EQUIP. - PRINTER 1,100 MISCELLANEOUS 400 TOURNAMENT 0 TOTAL EXPENSES $83,517 SURPLUS t (DEFICIT) $1,733 EDINA BASKETBALL ASSOCIATION FINANCIAL STATEMENT 6/1/91-12/15/91 BEGItiNING CASH 6/1/91 $8,926.00 INCOME Advertising $450.00 Late registration(1990) $105.00 Registration $40,774.50 Late Registration $3119.00 Traveling Fees * $4300.00 Timberwolves Tickets $949.00 Equipment $238.00 Interest/Misc. $149.00 TOTAL INCOME $50,084.50 EXPENSES Insurance $654.00 Equipment $8648.00 Coaching $1400.00 Traveling Registration $6025.00 Printing $1775.00 Mail/Postage $169.00 Metro League $990.00 Timberwolves Equipment $700.00 Referees $817.00 TOTAL EXPENSES $21,718.00 NET CASH FLOW $28,906.00 ENDING CASH $37,832.00 * 6TH GREEN, 8TH A, 9TH Grades have not paid their fees yet! CITY OF EDINA PARK AND RECREATION DEPARTMENT ryl"W H"XH111fil DATE: January 2, 1992 TO: Bob Kojetin, Director FROM: Tom Horwath, City Forester RE: 1991 Year End Shade Tree Program Report In 1991 a total of 466 diseased Elms were marked on public and private property in Edina. The breakdown for this is as follows: 120 Elms on City boulevards 259 Elms on private property 87 Elms in the City parks The majority of these Elms were removed as soon as possible after owners were notified. Throughout the summer our City contractor provided timely removals for the boulevard trees and the City tree crew was very active and helpful in removing diseased Elms in the parks. A more detailed account of the varied activities of the City tree crew will be outlined later in this report. Throughout the winter I will continue to monitor the remaining marked diseased Elms to ensure that they are removed before they again become an infectious threat to other healthy Elms in the spring. Of the 120 Elms removed from boulevards, 20 of these had a diameter greater than 30". The largest boulevard Elms removed this year were two Elms which measured 40" DBH. The largest Elm on private property removed this year was 54.4" DBH. The largest Elm in the City, as recorded on the City historical tree list, is 59.2" DBH. This year, 41 "Cathedral" Elms were planted on City boulevards in Edina. These trees were bred for resistance to Dutch Elm Disease. They were selected because their shapes most closely resembled the shape of the common American White Elm. The majority of them, were purchased as bare -root stock from Bailey's Nursery. Initially, twelve of the Elms planted in the spring never broke bud. These trees were replaced in the fall. All other Elms that did break bud in the spring survived the first summer and fall. I plan on continuing planting these "Cathedral" Elms in 1992, along with varied other species in appropriate areas in Edina. In my opinion bare -root stock is a very cost-efficient method for planting the greatest quantity of trees possible. Also, in 1992, I plan on purchasing a quantity of "Tubex" tree planting -protection tubes for use in starting Oak trees. Sites to be selected for these plantings will be determined after further consultation. A report on Oak Wilt Control will be prepared by S. Kunde Co., the City's privately contracted company. This year, I noted an increase in mortality among the Bur Oaks. In the previous two years, the drought has affected a great many Red Oaks. However, this year, the mortality among Red Oaks has subsided and Bur Oak mortality has increased. A Minnesota DNR report indicated that this was a state-wide experience. Caution had to be taken while determining whether these trees died as a result of the drought and subsequent attack by the two -lined chestnut bore, or oak wilt, or a combination. Obviously, the correct diagnosis had to be made to determine the correct control procedures. For 1992, I have established some goals which I will strive to attain and which I believe will benefit the Shade Tree Program for Edina. The first is to plant more trees in the City and to elicit greater participation of residents for their extended care. The second, is to generate an increased awareness of the beauty of trees both inside and out. That is, seeing the beauty of trees standing healthy in their natural setting as well as the beauty of the great resource of trees - its' wood. Third, I wish to increase my own knowledge about how to keep trees healthy, particularly in a City environment where trees are said to live only about one-fourth as long as trees in "the wild". Of particular interest to me is how to achieve this in a cost-efficient manner with cultural rather than chemical practices. Speaking for the trees that cannot speak our language, I wish to express gratitude for all that has been done in the past to maintain the health and aesthetics of our City's trees. Very often I see the benefits of this concern and labor as I drive around the city. Without this concern and labor, many of the trees I see standing, living and growing would not be alive today. 1991 TREE CREW JOB ORDERS A. Tree Removals Elms - 70 Oaks - 17 Others - 145 Total 232 B. Trimming 1. Trees trimmed - 240 2. Storm related a. trim for hangers - 30 b. tree removals - 9 C. Tree Planting - 360 D. Police Clearviews - 23 E. Tree related Misc. Jobs - 71 City of Edina CITY OF EDINA PARK AND RECREATION DEPARTMENT DATE: January 24, 1992 TO: Bob Christianson, MEMORANDUM Chairman of Edina Park Board FROM: ob Kojetin, Director ' RE: Relocation of Senior Center Since our last Park Board meeting an issue came up that I was not aware of indicating that the Senior Center was going to move from the Community Center in two years or something to that effect. According to all of my information in working with the project I have always been under the impression that we had a 10 year lease with the understanding that if the school needed rooms for education that the lease could be terminated. Also, in the lease agreement there is a clause that says the City shall have the right to occupy this space for at least two years from the time of completion of the project. It is my understanding that maybe this statement has been misinterpreted that we were only going to stay there for two years. The City has a long-term commitment to the Senior Center in this location. In a separate issue, I am meeting with the staff of the School District and the Community Education Service Board to re -discuss the final plans for the remodeling. In particular we hope to resolve --the issue of whether or not the corridor wall should be removed. cc: Edina Park Board City Hall (612) 927-8861 4801 WEST 50TH STREET FAX (612) 927-7645 EDINA, MINNESOTA 55424-1394 TDD (612) 927-5461 September S. 1991 |o: Robert Kojetin John Keprios Park Board Commissioners From: Andrew Montgomery Subject: Condition of Tennis Facilities Background: I have been concerned with the condition of the tennis facilities offered by the City of Edina to the residents and other users of the facilities. There are currently 16 tennis court locations throughout the City that are the responsibVity of the City to properly maintain. This excludes the recently resurfaced tennis courts at the Community Center and Edina High School, courts available at the two country clubs and Midwest Tennis and several courts at private homes. Findings: During Friday afternoon and Saturday morning. I personally visited all sixteen locations and offer the following comments on their condition(ranked from best to worst); Todd Park -Nets and playing surface are in excellent condition. Did find that the softball diamono and the basketball court have not been maintained. I rate the courts excellent. Lewis Park -Nets and playing surface are in excellent condition. I rate the courts excellent. Walnut Ridge -The playing surface is excellent and if the nets were replaced, the facility would be similar to Todd Park and Lewis Park. There are major holes in both nets. With the replacement of nets, I rate the courts excellent. Countryside Park -Major cracks have been reoaired with some compound inserted in the cracks which tentatively postpones resurfacing and gives good play. The nets are excellent. I rated the courts good/excellent. Cornelia School Park -There were holes in the bottom of the nets and the playing surface was excellent. I rate these courts good/excellent. I did note that the baseball diamond adjacent to the courts has not been maintained. Weber Park- The nets were in good shape and there was limited cracking of the playing surface. I do not know what another winter will do to the cracking. I rate these courts as good. Lake Cornelia Park(Pool)-The nets were in good shape and there was limited cracking of the court surface. I rate these courts as good. Yorktown Park -The nets were in good shape and there was limited cracking of the court surface. l rate these courts as good. I did note that the softball diamond was not maintained. Utley Park -Although the nets were in good shape~ there was considerable cracking of the court surface. There were no major cracks that would cause problems with the play. I rate these courts as fair. Lake Edina Park -The east court net had holes in the net and several cracks on both courts, some 1/2" to 1" in size which make play difficult. With the uncertainty of the future of these courts due to the Normandale Golf Course expansionr I do not recommend major dollars spent to zmorove facilities.I rate these courts as fair/poor. Pamela Park -The east court has holes in the net, severe cracking and a low point that retains rain water. The west court has considerable cracking which will probably worsen with another winter. I rate these courts as fair/poor. In =_ addition, two of the three ball diamonds do not apoear to have been maintained recently. Highlands Park -Both nets need to be replaced and court surface reoaired. The same process that was applied to Countrvside Park courts should be done here. In addition, the fencing on the south side allows balls to roll under and out of play. I rate these courts as poor/fair. Braemar Park -These courts probably have the nicest setting of all the courts but are in very poor condition. Both nets have holes in them and there are major cracks in the playing surface and extensive weeds. These courts should be candidates for resurfacing in 1992. I rate these courts as poor. Garden Park -With out a doubt, the worst courts in Edina. The east net has holes and there are major cracks and holes throughout the playing surface. Must be resurfaced as soon as possible. I rate this court as very poor. Creek Valley School -This facility is currently being resurfaced. l had played on these courts earlier this year and the decision to resurface would not be questioned. Normandale Park -This facility is currently being resurfaced. I had also played on these courts eariier this year and the decision to resurface would not be questioned. Recommendations 1. Resurface Braemar and Garden in the Spring of 1992 (I do not understand the resurfacing of courts in September when there is limited outdoor playing time remaining) 2. Employ the patching technzoues used at Countryside to Lake Edina, Pamela Park and Highlands. 3. Patch and/or replace nets at Walnut Ridge, Cornelia School, Lake Edina, Pamela Park, Highland, Braemar and Garden. 4. Determine the future of the Lake Edina tennis courts before additional major dollars are soent. Personal comments -It appears that there is a decline in the use of outdoor tennis facilities throughout Edina. On recent Saturday mornings, I have been playing with a group at Edina High School at 9AM. There are seven recently resurfaced courts and more often than not, we are the only group olaving. This was also noted during several evenings. This leads me to conclude that spending major dollars on the resurfacing of Edina Park facility courts may not seem to be a reasonable use of taxpaver dollars. However, to /et them become eyesores and a source of neighborhood complaints is also not in our best interests. The patching technioue is an alternative but it has the appearance of being repaired rather than resurfaced.. The courts that have been most recently resurfaced(prior to 1991) hale not lasted. We need a better understanding of what we are purchasing and what guarantees we can expect regarding court life. The Community Center and High School courts which were resurfaced this year are excellent and I would expect that they will last for 5-8 years before resurfaced again. I enjoyed the opportunity to visit the tennis facilities throughout Edina and look forward to your comments. By visiting these 16 facilities, it leads me to recommend that each Park Board commissioner be assigned responsibility for oeriodic review and comment on 4-5 parks of the 38 park facilities that are offered to the Edina public. I believe a more oro -active role should be a commitment of each commissioner as it is impossible for the staff to visit all the facilities within a reasonable timeframe, considering their other responsibilities. BOB z j Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 • Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 I. Introduction This report responds to council direc- tion to prepare detailed plans and to secure permits for the creation of a new 9 -hole golf course adjacent to the Braemar Golf Courses. By way of background, council mem- bers will recall that in the winter of 1987-1988 a staff committee studied ways to improve Braemar Park. These improvements included: • upgrading Braemar Arena and Pavilion; • construction of a new 9 -hole golf course; • purchase of the then privately - owned Edina Golf Dome; • construction of a new driving range/executive club house building; and, • construction of a new parking lot at Braemar Club House. A report outlining these suggestions was presented to the park board on April 26, 1988. The board discussed and accepted these suggestions recom- mending that the council order the im- provements. Staff, in turn, prepared more detailed plans and submitted them to the council on May 2, 1988. The council authorized improvements to Braemar Arena at this meeting and subsequently approved construction of a new 9 -hole golf course on August 1, 1988. On September 19, 1988, the council ap- proved the sale of $2,470,000 in recrea- tional bonds, to be used for improvements to the arena and golf course, which were awarded on October 3, 1988. In the winter of 1988-1989 an architect made preliminary drawings and specifications for the new golf course. These drawings were presented to the Nine Mile Watershed District, Min- nesota Department of Natural Resour- ces and the U.S. Army Corps of Engineers in order to secure a con- struction permit. This permit was sub- mitted for approval in Fall, 1989. Following an exhaustive review process created by the Corps of Engineers, a permit was granted allowing the con- struction of the new course on June 5, 1992. Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 H. Golf Demand at Braemar Golf Course Braemar opened its regulation and par 3 courses in July, 1964. Since then, the number of golfers in Edina has grown considerably due to a combination of factors that affect Edina more than other nearby cities. Edina is retaining its residents at a higher rate than other cities. Our population is therefore a bit older than average. Many of our residents have retired and have more time for recrea- tion—many of the folks come to Braemar Golf Course. Golf is a lifetime sport most popular with those over 40. Edina's median age is 39.5 years compared to Hennepin County's average, 30.0 years, the Twin City metropolitan area's of 28.8 years; and the state's, which is the same, 28.8 years. Braemar, with its popular patron card system, has grown from 500 card holders in 1980 to 2,125 in 1992. This growth continues at an average of 100 to 125 per year. In addition, Braemar Golf Course maintains 1,680 individual handicaps — the largest number at any one golf course in the country. League Play League play is a large component of the total usage of these courses. 450 men and 1,100 women play the two courses on a weekly basis. These same leagues have over 500 people on their waiting lists. In 1989, league members were restricted to playing in a single league to more equitably use the course and to reduce waiting lists. Braemar will not permit non -Edina residents to join its leagues because of the residents -first rule. A small num- ber of non-residents remain in the ladies leagues because they were "grandmothered" at the time this rule was put in place. Management currently restricts the growth of league play in order to offer available open golf time for other patron card holders and unorganized family golf. Industrial league play which used to be an integral part of the play at Braemar was gradually eliminated as resident demands increased. At its height there were 16 industrial leagues averaging 32 players per league. The phenomenal growth of golf nation- ally and locally continues and Braemar is turning away over 300 golfers each day. National Golf Foundation statis- tics again place Minnesota number one in golf participation per capita. Throughout this unprecedented period of growth, Braemar's courses still offer only 27 holes. 12 Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 III. Financial Aspects A detailed financial analysis (Adden- dum A), and accompanying assump- tions (Addendum B) suggest that the City sell $775,000 more in recreation facility bonds, which, when added to the $2.1 million already secured, will provide $2.875 million to be used as fol- lows: New Expenses $1,500,000 Construction $350,000 Clubhouse Expansion $50,000 Purchase of Pumps $45,000 Purchase of Golf Cars $1,945,000 Previous Expenses $300,000 Remodeling of Parking Lot $280,000 Executive Course Clubhouse/Range $240,000 New 9 Redesign, Legal Fees, Army Corps Permit $30,000 Re -roofing of Clubhouse, Installation of Air Conditioning $850,000 Capitalized Interest $80,000 3 $2,875000 Total Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 IV. Conclusion Construction of a new 9 -home golf course adjacent to the Braemar Golf Courses continues to be a priority of the city's recreation effort for the fol- lowing reasons: 1. Addition of a new regulation 9 -hole golf course will alleviate over -crowded conditions on the 18 -hole course. Patron card holders who cannot secure tee times will be pleased to have additional access; 2. The three nines can be integrated for 18 -hole play creating substantial economies of scale in operation and maintenance. (Some physical clubhouselpro shop changes will be necessary to accommodate increased traffic in these areas —estimated to be an additional 250 golfers per day); 3. Need for additional golf holes at Braemar has dramatically increased since the plan for this expansion was conceived and proposed in 1988; 4. From a financial standpoint, given Braemar's past performance, and with demand greatly exceeding supply, the addition of a new nine is an economically sound decision. Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 V. Recommendation Staff recommends that the council allow final design and construction of a new 9 -hole golf course adjacent to the Braemar Golf Courses to proceed along the following approximate timetable: • At its July 20, 1992, meeting, the council would review design specifications, financing, and staff and park board recommendations and provide final approval or take another action; • Working drawings would be drawn and advertised on August 19, 1992, followed by a bid opening on September, 15, 1992. • At the September 21, 1992, regular city council meeting, a bid summary with recommendations would be submitted to the council for its review and action. • Grand opening would occur in Summer, 1994. Special Report to the Park Board & City Council Braemar Golf Course Expansion 21 JULY 1992 VI. Addenda PAGE A Financial Analysis ......................... 7 B Financial Analysis Assumptions ................ 13 i =6--tun-92 Projections for New Nine Addendum A Total Expenses $1.054.084$1.415 $1.3� 02� $1.322.637 $1.4.675 Assumption Actual Actual Actual 1989 1990 1991 1992 1993 Descnotions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) )LATIVE PROFITI(LOSS) 1,701,899 Assumption Actual Actual Actual 1991 1992 1993 Descnotions % 1989 1990 389.810 379,361 437,899 INCOME: 85,272 85,669 83,220 84,220 85.220 Rounas (Existing 27 Holesl' 4.00% $7.68 $8.26 $8.44 $9.00 $9.5 Greens Fee - Existing 27 4.00% 58,380 86,477 17,360 74,350 21,994 77,324 22,874 23.789 Rounds - New Nine 4.00 ' 14,168 84,300 85.800 92,400 101,096 122,140 Greens Fee - New Nine 4.00% MAINTENANCEIGOLF (:IRS: 654.685 708,019 702,603 757,980 809.590 Green Fees 2.00% 186.868 229.299 236,538 241,269 246,094 111,838 Driving Range 2.00% 110,711 99,224 107,495 109.645 110,869 Goff Cars Patron Cards 2.00% 89,735 95,053 161,520 106,564 171,625 108,695 180,206 189,217 Concessions 5.0096 161,829 151,838 186.675 243,334 248,201 253,165 Other Operating Revenues 2• 346.233 119,435 113.406 114,540 35,000 Non -Operating Revenues 1.00% 17 230 18,542 15,105 15,709 Commoaities 5.00% $1,701,899 $1.55999 225 $1,681 $1,760.536 $1.7�?2 Cost of Goods Sold Total Expenses $1.054.084$1.415 $1.3� 02� $1.322.637 $1.4.675 Assumption Actual Actual Actual 1989 1990 1991 1992 1993 Descnotions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) )LATIVE PROFITI(LOSS) 1,701,899 Assumption Actual Actual 1990 Actual 1991 1992 1993 Descnations ao 1989 - ----- 647,815 389.810 379,361 437,899 EXPENSES: EXPENSES: ADMIN: 4.00% 150,979 192,066 219,342 228,116 267,240 80,417 Salaries Contracted Services 4.00% 58,380 86,477 17,360 74,350 21,994 77,324 22,874 23.789 Commodities 4.00 ' 14,168 84,300 85.800 92,400 101,096 122,140 Central Services 4.00% MAINTENANCEIGOLF (:IRS: 200,581 213,046 224.342 233,316 272.648 Sal' - 4.00% 400% 22 140 22 14,051 32,748 36,361 37,815 39,328 C' 'ed Services . 102 323 77,107 82,504 88,280 Cor..., todities 7.00% CLUBHOUSE/GRILL 4'00%4.00% 63,343 7029 80,565 83,788 87,139 Salaries 62.525 71,135 62,896 65,412 68,028 16,338 Contracted Services 4.00% 17 230 18,542 15,105 15,709 Commoaities 5.00% 74,831 71,780 71,638 75,220 78,981 Cost of Goods Sold RANGE/EXEC COURSE: 65.141 83,071 82,431 85.728 89,15 Salaries 4.00% 4.00% 15h6 235 1,423 1,480 1,539 Contracted Services 6,061 22959 21,399 22.255 23,145 Commodities 4.00% 5.00%78,750 94,696 101,062 118,240 115,000 120,750 Yearly Equipment Expense 40,112 38,782 102,611 75,000 Yearly Renovation Expense 5.00% Total Expenses $1.054.084$1.415 $1.3� 02� $1.322.637 $1.4.675 Assumption Actual Actual Actual 1989 1990 1991 1992 1993 Descnotions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) )LATIVE PROFITI(LOSS) 1,701,899 1,599,225 1,681,565 1,760,536 1,755,772 1,054.084 1,209.415 1,302.204 1.322.637 1,457.670 647,815 389.810 379,361 437,899 298.103 251.011 285,015 346.465 96.804 $104,795 $32-896 Year 1 1994 85,000 $10.00 20,000 $8.00 1,010,000 251,016 114,075 113,087 198,677 258,228 2.000 1;1.947.083 Year 1 1994 287,930 83,634 24,740 127,025 303,554 53,901 122,459 90,625 70,749 16,991 82,930 92,724 1,601 24,071 156,788 82,688 51.622,409 Year 1 1994 1,947,0&3 1.622,409 324,673 393,428 433,678 426,118 $44,472 ($135,575) ($101,444) ($135,575) ($237,019) 7 26 -Jun -92 Projections for New Nine Assumption Descriptions % 1995 1996 1997 1998 1999 2000 INCOME: Rounds (Existing 27 Holesi' 85,000 85,000 85,000 85,000 85,000 85,000 Greens Fee - Existing 27 $10.50 $11.00 $11.50 $1200 $12.50 $13.00 Rounds - New Nine 25,000 30,000 31,500 33,075 34,729 35,000 Greens Fee - New Nine $8.50 $9.00 $9.50 $10.00 $10.50 $11_00 Green Fees 1,105,000 1,205,000 1,276,750 1,350,750 1,427,155 1,490,000 Driving Range 2.00% 256,036 261,157 266,380 271,708 277,142 282,685 Golf Cars 2.00% 116,356 118,683 121,057 123,478 125,948 128,466 Patron Cards 2.00% 115,348 117,655 120,008 122,409 124,857 127,354 Concessions 5.00% 208,611 219,042 229,994 241,494 253,568 266,247 Other Operating Revenues 2.00% 263,393 268,660 274,034 279,514 285,105 290,807 Non -Operating Revenues 1.00% 2,020 2,040 2.061 2.081 2.102 2.123 $2,066.764 52.192,238 $2.290.284 $2,391.433 $2.495.876 $2.587.682 Assumption Descriptions % 1995 1996 1997 1998 1999 2000 EXPENSES: AWN: Salaries 4.00% 299,447 311,425 323,882 336,837 350,311 364,323 Contracted Services 4.00% 86,979 90,458 94,076 97,840 101,753 105,823 Commodities 4.00% 25,730 26,759 27,829 28,943 30,100 31,304 Central Services 4.00% 132,106 137,391 142,886 148,602 154,546 160,728 MAINTENANCEIGOLF CARS: Salaries 4.00% 315,696 328,324 341,457 355,116 369,320 384,093 Contracted Services 4.00% 56,057 58,300 60,631 63,057 65,579 68,202 Commodities 7.00% 131,032 140,204 150,018 160,519 171,756 183,779 CLUBHOUSEIGRILL• Salaries 4.00% 94,250 98,020 101,940 106,018 110,259 114,669 Contracted Services 4.00% 73,579 76,523 79,584 82,767 86,078 89,521 Commodities 4.00% 17,671 18,378 19,113 19,877 20,672 21,499 Cost of Goods Sold 5.00% 87,076 91,430 96,002 100,802 105,842 111,134 RANGE/EXEC COURSE: Salaries 4.00% 96,433 100,290 104,302 108,474 112,813 117,325 Contracted Services 4.00% 1,665 1,731 1,801 1.873 1,947 2,025 Commodities 4.00% 25,034 26,035 27,077 28,160 29,286 30,457 Yearly Equipment Expense 5.00% 164,627 172,858 181,501 190,576 200,105 210,110 Yearly Renovation Expense 5.00% 86,822 91,163 95,721 100,507 105,533 110,809 Total Expenses $1,694.204 $1,769,288 $1,647.820 $1,929.966 $2.015.899 $2,105.802 Assumption Descriptions % 1995 1996 1997 1998 1999 2000 SUMMARY: REVENUES 2,066,764 2,192,238 2,290,284 2,391,433 2,495,876 2,587,682 EXPENSES 1,694.204 1.769,288 1.847,820 1,929,966 2.015,899 2.105,802 OPERATING INCOME 372,561 422,950 442,463 461,468 479,977 481,879 DEBT SERVICE 442,255 432,098 476,420 460,636 444,143 282,078 NET PROFITI(LOSS) ($69,694) ($9,148) ($33,957) $831 $35,834 $199,802 CUMULATIVEPROFITI(LOSS) ($306,713) ($315,861) ($349,818) ($348,986) ($313,152) ($113,350) 26 -Jun -92 Projections for New Nine Assumption Descnptions b 2001 2002 2003 2004 2005 2006 INCOME: Rounds (Existing 27 Hol 1• 85,000 85.000 85,000 85,000 85,000 85,000 Greens Fee - Existing 27 $13.50 $14.00 $14.50 $15.25 $16.00 $16.75 hounds - New dine 35,000 35,000 35,000 35.000 35,000 35,000 Greens Fee - New Nine $11.50 $12.00 $12.50 $13.00 $13.50 $14.00 Green Fees 1,550.000 1,610,000 1,670,000 1,751,250 1,832,500 1,913,750 Driving Range 2.00% 288,339 294,105 299,987 305.987 312,107 318,349 Goff Cars 2.00% 131,036 133,657 136,330 139.056 141,837 144,674 Patron Cards 2.00% 129,901 132.499 135,149 137,852 140,609 143,421 Concessions 5.00% 279,559 293,537 308,214 323,625 339,806 356,796 Other Operating Revenues 2.00% 296,623 302,555 308,606 314,778 321,074 327,496 Non -Operating Revenues 1.00% 2,144 2.166 2,187 2.209 2.231 2,254 $2.677.601 $2.768.519 $2.860.474 $2.974.758 S3.090,1 64 $3,2�39. Assumption Descnotions °a 2001 2002 2003 2004 2005 2006 EXPENSES: ADMIN: Salaries 4.00% 378,896 394,052 409,814 426,207 443,255 460,985 Contracted Services 4.00% 110,056 114,458 119,037 123,798 128,750 133,900 Commodities 4.00% 32.556 33,859 35,213 36,622 38.086 39,610 Central Services 4.00% 167,157 173,843 180,797 188,029 195,550 203,372 MAINTENANCEIGOLF CARS: Salaries 4.00% 399,457 415,435 432052 449,334 467,308 486,000 ontracted Services 4.00% 70,930 73,767 76,718 79,787 82,978 86.298 .;ommodities 7.00% 196,643 210,408 225,137 240,896 257,759 275,802 CLUBHOUSEIGRILL SWanes 4.00% 119,256 124,026 128,987 134,147 139,513 145,093 Contracted Services 4.00% 93,101 96,826 100,699 104,726 108,916 113,272 Commodities 4.00% 22.359 23.253 24,184 25.151 26,157 27,203 Cost of Goods Sold 5.00% 116,691 122.525 128,652 135.084 141,838 148,930 RANGE/EXEC COURSE: Salaries 4.00% 122,018 126.899 131,975 137,254 142.744 148,454 Contracted Services 4.00% 2,106 2,191 2,278 2,369 2,464 2,563 Commodities 4.00% 31,676 32.943 34,260 35,631 37,056 38,538 Yearly Equipment Expense 5.00% 220,616 231,647 243.229 255,390 268,160 281,568 Yearly Renovation Expense 5.00% 116,350 122,167 128,275 134,689 141,424 148,495 Total Expenses $2.199.868 $2,298.299 $2.401.306 $2.509.114 $2.621.957 $2.740.083 Assumption Descriptions % 2001 2002 2003 2004 2005 2006 SUMMARY: REVENUES 2,677.601 2,768,519 2,860,474 2.974,758 3,090.164 3,206,739 EXPENSES 2,199,868 2.298.299 2,401.306 2,509.114 2,621,957 2,740,083 OPERATING INCOME 477,733 470,220 459,167 465,643 468,207 466,657 DEBT SERVICE 277,275 277,039 300,173 291.660 292,760 287,735 NET PROFIT/(LOSS) $200,458 $193,181 $158,995 $173,983 $175,447 $178,922 ,UMULATIVE PROF /(LOSS) $87,108 $280,2B9 $439,283 $613,267 $788,714 $967,635 9 26 -Jun -92 Projections for New Nine 10 Assumption Descriptions % 2007 2008 2009 2010 2011 2012 INCOME: Rounas (Existing 27 Holesl 85,000 85,000 85,000 85,000 85,000 85,000 Greens Fee - Existing 27 $17.50 $18.25 $19.00 $19.75 $20.50 $21.25 Rounos - New Nine 35,000 35,000 35,000 35,000 35,000 35,000 Greens Fee - New Nine $14.50 $15.00 $15.50 $16.00 $16.50 $17.00 Green Fees 1,995,000 2,076,250 2,157,500 2,238,750 2,320,000 2,401,250 Driving Range 2.00% 324,716 331,210 337,835 344,591 351,483 358,513 Goff Cars 2.00% 147,568 150,519 153,529 156,600 159,732 162,927 Patron Cards 2.00% 146,290 149,215 152,200 155,244 158,348 161,515 Concessions 5.00% 374,636 393,368 413,036 433,688 455,372 478,141 Other Operating Revenues 2.00% 334,045 340,726 347,541 354,492 361,582 368,813 Non -Operating Revenues 1.00% 2,276 2.299 2.322 2.345 2.369 2.392 $3.324.531 $3.443.588 S3.563.962 $3.685.709 $3.808.886 53.933.551 Assumption Descriptions % 2007 2008 2009 2010 2011 2012 EXPENSES: ADMIN: Salaries 4.00% 479,424 498,601 518,546 539,287 560,859 583,293 Contracted Services 4.00% 139,256 144,826 150,619 156,644 162,910 169,426 Commodities 4.00% 41,194 42,842 44,556 46,338 48,192 50,119 Central Servicers 4.00% 211,507 219,967 228,766 237,916 247,433 257,330 MAINTENANCEIGOLF CARS: Salaries 4.00% 505,440 525,658 546,684 568,551 591,293 614,945 Contracted Services 4.00% 89,749 93,339 97,073 100,956 104,994 109,194 Commodities 7.00% 295,108 315,766 337,869 361,520 386,827 413,904 CLUBHOUSE/GRILL Salaries 4.00% 150,897 156,933 163,210 169,738 176,528 183,589 Contracted Services 4.00% 117,803 122,515 127,416 132,512 137,813 143,325 Commodities 4.00% 28,291 29,423 30,600 31,824 33,097 34,421 Cost of Goods Sold 5.00% 156,377 164,196 172,405 181,026 190.077 199,581 RANGE/EXEC COURSE: Salaries 4.00% 154,392 160,567 166.990 173,670 180,616 187,841 Contracted Services 4.00% 2,665 2,772 2,883 2.998 3,118 3,243 Commodities 4.00% 40,080 41,683 43,350 45,084 46,888 48,763 Yearly Equipment Expense 5.00% 295,646 310,429 325,950 342,247 359,360 377,328 Yearly Renovation Expense 5.00% 155,920 163,716 171,901 180,496 189,521 198,997 Total Expenses $2,863.750 $2.993,233 53.128.818 $3,270.810 $3,419.525 53.575.301 Assumption Descriptions % 2007 2008 2009 2010 2011 2012 SUMMARY: REVENUES 3,324,531 3,443,588 3,563,962 3,685,709 3,808,886 3,933,551 EXPENSES 2.863.750 2,993,233 3.128.818 3.270.810 3.419.525 3,575.301 OPERATING INCOME 460,781 450,355 435,144 414,900 389,360 358,250 DEBT SERVICE 281,875 280,273 67,563 88,200 82,950 77,663 NET PROFITI(LOSS) $178,906 $170,082 $367,581 $326,700 $306,410 $280,588 CUMULATIYEPROFITI(LOSS) $1,146,541 $1,316,623 $1,684,205 $2,010,904 $2,317,315 $2,597,902 10 26 -Jun -92 Projections for New Nine Yearly Equipment Expense 5.00% Yearly Renovation Expense 5.00% Total Expenses Assumption Descriptions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) IMULATIVE PROFIT/(LOSS) 2013 2014 2015 2016 606,625 Assumption Descriptions % EXPENSES: 183,252 Descriptions % 2013 2014 2015 2016 INCOME: 4.00% Central Services 4.00% MAINTENANCE/GOLF CARS: 665,125 Rounas (Existing 27 Holes)' 4.00% 85,000 85,000 85,000 85,000 Greens Fee - Existing 27 473,879 $2200 $22.75 $23.50 $24.25 Rounds - New Nine 4.00% 35,000 35,000 35,000 35,000 Greens Fee - New Nine 4.00% $17.50 $18.00 $18.50 $19.00 Green Fees 242,592 2,482,500 2,563,750 2,645,000 2,726,250 Driving Range 2.00% 365,683 372,997 380,457 388,066 Golf Cars 2.00% 166,185 169,509 172,899 176,357 Patron Cards 2.00% 164,746 168,041 171,402 174,830 Concessions 5.00% 502,048 527,150 553,508 581,183 Other Operating Revenues 2.00% 376,189 383,713 391,387 399,215 Non -Operating Revenues 1.00% 2,416 2,440 2,465 2.489 $4,059.767 $4,187,600 $4.317,117 54.448.390 Yearly Equipment Expense 5.00% Yearly Renovation Expense 5.00% Total Expenses Assumption Descriptions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) IMULATIVE PROFIT/(LOSS) 2013 2014 2015 2016 606,625 Assumption Descriptions % EXPENSES: 183,252 ADMIN: 198,205 Salaries 4.00% Contracted Services 4.00% Commodities 4.00% Central Services 4.00% MAINTENANCE/GOLF CARS: 665,125 ^ elaries 4.00% retracted Services 4.00% -ommodities 7.00% CLUBHOUSE/GRILL- 473,879 Salaries 4.00% Contracted Services 4.00% Commodities 4.00% Cost of Goods Sold 5.00% RANGEIEXEC COURSE: 167,670 Salaries 4.00% Contracted Services 4.0091 Commodities 4.009' Yearly Equipment Expense 5.00% Yearly Renovation Expense 5.00% Total Expenses Assumption Descriptions % SUMMARY: REVENUES EXPENSES OPERATING INCOME DEBT SERVICE NET PROFIT/(LOSS) IMULATIVE PROFIT/(LOSS) 2013 2014 2015 2016 606,625 630,890 656,126 662.371 176,203 183,252 190,582 198,205 52,124 54,209 56,377 58,632 267,623 278,328 289,462 301,040 639,543 665,125 691,730 719,399 113,562 118,104 122,828 127,741 442,878 473,879 507,051 542.544 190,933 198,570 206,513 214,773 149,058 155,021 161,222 167,670 35,798 37,230 38,719 40,267 209,560 220,038 231,040 242,592 195,355 203,169 211,296 219,748 3,372 3,507 3,648 3,793 50,714 52,742 54,852 57,046 396,194 416,004 436,804 458,644 208,947 219,395 230,364 241,882 $3,738.489 53,909,462 $4.088,611 54.276.349 2013 2014 2015 2016 4,059,767 4,187,600 4,317,117 4,448,390 3.738.489 3.909,462 4,088,611 4.276.349 321.278 278,138 228,506 172.041 0 0 $321,278 $278,138 $228,506 $172,041 $2919,181 $3,197,319 $3,425,825 $3,597,865 11 n c m 0 3 CD 0 0 3 0 Dollars (Millions) 6 (D^ N O YI I i i i i ! I i I i i N O D (D QO a C7 � � IV (D 0 0 3 Z rn 0 CD cn CO 12 Addendum B 26 -Jun -92 - Braemar New 9 Holes sumptions Revenues: 1. 1989 - 1991 Greens fee equals Average Revenue per Customer (Greens Fee Revenue Divided by (16 hole rounds + 9 hole rounds)) 2. Existina 27 holes maximum rounds per year set at 85,000 Actual Actual Actual 1989 1990 1991 18 hole rounds 38,399 38,046 36,766 9 hole rounds 17,997 17,420 16,877 Executive Rounds 28,876 30,203 29,577 Total Rounds 85,272 85,669 83,220 3. New nine rounds will start at 20,000 per year increasing to 35.000 by the year 2000 4. Price per round increased by $.50 per year through 2003, $.75 per year thereafter 5. Non-operating Revenues (interest income) decreased to $35.000 in 1993 and $2,000 in 1994 6. Other Operating Revenues include: pull cart and club rental, lesson income, banquet room rental and hand caps. 7. Patron Card sales will not increase rr- oenditures: . Open New 9 in 1994 2. Personnel Additions: - Clerical Addition (Administration) in 1993 - $30,000 - Maintenance Addition in 1993 - $30,000 - Central Service Increase (PERA/FICA/Flex/Workers Comp) in 1993 - $17,000 - Part time Pro Shop Help (Administration) in 1994 - $10,000 - Part time help Maintenance in 1994 - $20,000 3. Additional Operating Expenditures: - Maintenance Contractual Services (1 /3 of 1993) in 1994 - $13,000 - Maintenance Commodities (1 /3 of 1993) in 1994 - $28,000 4. Yearly Capital Expenses: - Hole Renovation $75,000 per year - Equipment/ Building Expense - $115,000 per year - New 9 adds $35,000 to equipment in 1994 S. Debt Service includes: 1985 $1,200.000 issue - expires in year 2000 - 1989 $2,100,g00 issue - expires in year 2009 Proposed 1993 issue $725,000 - expires in year 2012 13 Agenda Item II.A. Special Report to the City Council Normandale Golf Course 6 July 1992 Special Report to the City Council Normandale Golf Course - ; JLY 1992 I. Introduction This report responds to Council direc- tion to the City Manager to explore agreements with interested parties leading to the City's purchase and im- provement of the Normandale Golf Course. Normandale Golf Course is a private business owned and operated by mem- bers of the Rauenhorst family. The course was originally created to pro- vide a recreational diversion for the of- fice workers populating the sprawling office park developed by Dunn & Curry during the late 1950's and 60's. Because the Rauenhorsts are no longer interested in owning this land. now is an opportune time for the City to consider acquiring it. This report describes all facets of the acquisition and improvement of the course and its environs. If the Council decides to proceed, bonds would be sold in 1992 so con- struction could begin in the fall of 1992 with a gala re -opening of the new Edina Normandale Public Golf Course in Spring 1994. Special Report to the Citv Council Normanaale Golf Course ,, JULY 1992 II. Easement Agreements with the Shidler Group In order to obtain access to the proposed new clubhouse, an easement has been obtained from the Shidler Group, owners of the property lying to the east of the Lake Edina pumping station just south of the Fidelity State Bank building, the most logical loca- tion for an access drive. The Shidler Group agreed to give the City this ease- ment under the following conditions: 1. The City build a public driveway as indicated on the Golf Course Overall Master Plan (Addendum A); 2. The City prepare plans for reconstruction of a storm water drainage system; 3. The City move trees lying within the easement area to new locations; 4. The City pay reasonable attorneys' fees incurred by the Shidler Group in connection with the granting of this easement; and, 5. The City maintain this driveway, including snow -plowing. Special Repon to the City Council Normandale Golf Course 6 JULY 1992 III. Golf Course Redesign As evidenced in the Golf Course Over- all Master Plan (Addendum A), redesign of the golf course would in- volve blending present acreage of Lake Edina Park and water pump site with the present 22 -acre golf course. Playground equipment would be relo- cated to the north-easterly side of the park, and the tennis courts would be removed. A small new parking lot would be built to serve playground users. Kellogg Avenue would be made into a cul-de-sac. The entire area be- tween Kellogg and Parklawn Avenues would be fenced. The course itself would consist of nine holes with total yardage as follows: Back tees . . . 2,095 yards Middle tees .. 1,760 yards Front tees . . . 1,515 yards Total par ......... 31 The redesigned course would be uni- que in the Metropolitan area because each green would be exceptionally large and have two pin placements one with a difficult approach, the other with a simple, less challenging, ap- proach. Golfers could play a myriad of demanding or relaxing combinations— from long tees to difficult pin place- ments, from short tees to simple placements—or any of these mixtures. Please note that all holes would be ul- timately designed so that backyards of 2 West Shore Drive and Sedum Lane J neighbors are not threatened by wildly hit golf balls. There are no relatively close parallel holes to back property lines. Special Report to the City Council Normandale Golf Course 6 JULY 1992 IN. Financial Aspects Purchase A detailed financial analysis.(Adden- dum B) suggests that the City sell $2.45 million in bonds with a 30 -year retirement schedule. The proceeds would be used as follows: $800,000 Purchase of property $200,000 Parking lot and sanitary sewer connection from Kellogg Avenue $300,000 Clubhouse $100,000 Maintenance equipment $825,000 Redevelopment of the golf course (including develop- ment fees spent to date) $200,000 Capitalized Interest $2,450,000 Total The analysis implies that losses would occur until 2010, at which time the course would become "profitable" after paying bond retirement and operations costs. The assumptions made in this analysis are appropriate when compared with the use enjoyed and fees charged by Metro area golf courses as shown in the tables on the next pages. Operations Because the City is presently in the golf course business, certain economies of scale are available to operate the proposed course in a high- ly resourceful fashion. For example, all maintenance equipment would be maintained at the large, well-equipped Braemar maintenance facility, general storage for day -today use would be at the new clubhouse. Overall manage• ment would be provided by current Braemar staff. It is anticipated that no new full-time employees would be needed. i4 Special Report to the City Council Normandale Golf Course 6 JULY 1942 V. Major Elements of Proposal for Purchase Purchase Price and Payment • $800,000 payable in cash at closing. Property • All of Normandale Golf Course including approximately 6.2 acres fronting on West 77th Street. Terms • The City would remove the existing structure from the ap- proximately 6.2 acres fronting on West 77th Street (the "Acreage"). • Seller would have an option to reacquire the Acreage for a period of fifteen (15) years at an option price of $1.00. If Seller reacquires the Acreage and if the contingencies described above are fully satisfied, the City would amend its Com- prehensive Plan to show use of the Acreage as Planned Office Development, subject to setback lines as shown on ADDENDUM C, and a building height restriction of 39 feet, and the Seller would prepare and file, at Seller's expense, any required plat or registered land survey. • If Seller does not reacquire the Acreage, the option will expire and City will issue a resolution for the value of the Acreage at that time as a gift from Seller. • During the 15 year option period, the City will maintain the Acreage and neither the Seller nor any other person or party shall have the right to use the Acreage for any purpose unless agreed to and approved by the City. is Special ReDon to the City Council Normandale Golf Course o JULY 1992 1991 Par 3 and Executive Golf Courses Estimated Rounds Played Minneapolis/St. Paul Metropolitan Area COURSE LOCATION ROUNDS Brightwood Hills ........ New Brighton ........ 38,000 Brookland G.C. ........ Golden Valley ........ 30,000 Bunker Hills Exec. . . . . . . . . Coon Rapids . .. . . . . . . 25,000 Cedar Hills .. .. . . . . . ... Eden Prairie . .... . . . . 21,000 Chaska Par 3 ............ Chaska .......... 29,000 New Hope Village . ....... New Hope ......... 41,000 Normandale . . .. . . . . . .. . . Edina ........ . . . 15,000 Rich Acres Par 3 .......... Richfield .......... 33,000 Roseville Cedarholm . . ..... Roseville . .... .. . . . 38,000 Theodore Wirth Par 3 ...... Minneapolis ........ 33,500 Special Report to the Citv Council Norrnandale Golf Course 0 1ULY 1992 1991 Par 3 and Executive Greens Fees Minneapolis/St. Paul Metropolitan Area COURSE LOCATION YARDS COST/WEEKEND Baker Park 9 Exec. Braemar Golf Brightwood Hills Brookland Exec. 9 Bunker Hills Exec. Cedar Hills Cedarholm Centerbrook G.C. Chaska Par 30 Cleary Lake G.C. Country View Elm Creek par 3418 -hole par 30 18 -hole French Lake Hayden Hills Kate Haven G.C. Hyland Outside Hyland Inside Maple Hills Majestic Oaks 9 Hole Exec. Mendota Hts. New Hope Village Normandale 1990 Oak Glens semi -private Orchard Gardens Orono G.C. Red Oak G.C. Rich Acres Par 3 Theodore Wirth 9 Woodbury G/F Medina Edina New Brighton Brooklyn Park Coon Rapids Eden Prairie Roseville Brooklyn Center Chaska Prior Lake St. Paul Golden Valley Osseo Champlin Circle Pines Bloomington Bloomington St. Paul Blaine Mendota Hts. New Hope Edina 1433 1629 1556 1862 2300 1300 1342 1479 1648 1656 1368 2777 2681 1432 1436 1663 1560 1250 1270 1795 1277 1395 1575 $6.50/$7.00 $650 $550/$7.50 $650/$7.00 $7.00 $7.50/$8.50 $5.25 $6.50 55.00/$5.50 $6.00 $5.75/$6.00 $8.00/$10.00 $8.00/$10.00 $6.50 $6.00 $6.00/$7.00 $650 $5.50 $5.75 $6.50/$7.00 $6.00 $6.00 $5.50 Stillwater 1738 $12.60 Burnsville 1527 $7.00 Wayzata 2139 $7.00 Mound 1188 $550/$6.00 Richfield 1137 $5.50 Minneapolis 1240 $6.25 Woodbury 1250 $5.75 Special Report to the City Council Normandale Golf Course o JULY 1992 VI. Addenda PAGE A Golf Course Overall Master Plan .. ... . ........... 9 B Normandale Golf Course Financial Analysis ......... 10 C Proposed Setback Limits .................... 15 D Proposed Building Height Limits ................ 16 II Addendum A • .., �.' '\ ul Tal ulw T •.I+ > o) m OI O m+ ] 11�`tti' sa xsslo�r§moo 1 1 �I o� z o Z I ,nM I 0 ,� I v_ Q \ Olp Z O I I OY M rn------------- II' "I - J� UlO 0o ca -1 col o ----- -------------- o -- p ------- --- 7-7 I�r 4.� I � I 26 -Jun -92 Projections for Normanaale Descnotions INCOME: Addendum B Assumption Year 1 1994 1995 '996 1997 1998 1999 Rounos 20,000 20,000 25.000 25,000 30,000 31,500 Greens Fee $8.00 $8.50 S9.00 $9.50 $10.00 $10.50 Subtotal 160,000 170.000 225.000 237,500 3D0.000 330.750 Concessions 5.00% 14,000 14,700 15.435 16,207 17,017 17,868 Carts 2.00% 3,200 3,264 3.427 3.599 3778 3,967 Total Revenue $177.200 $187.964 5243.862 $257.305 5320.796 $352.585 Assumption Year 1 DescnDtions o 1994 1995 1996 1997 1998 1999 EXPENSES: .ADMIN: Suot. Wlbenefrts 4. DO% 35,000 36,400 37,856 39,370 40,945 42.583 Seasonal - 3 (156 days) 4.00% 26,208 27.256 28.347 29,480 30.660 31,886 MAINTENANCE: Chemicals/Fertilizer 7.00% 10,000 10,700 11,449 12.250 13,108 14,026 Salaries 4.00% 18,300 19,032 19,793 20,585 21.408 22,265 CLUBHOUSE: Part-time Manager 4.00% 10,000 10,400 10,816 11,249 11,699 12,167 Seasonal - 3 (156 days) 4.00% 22,464 23,363 24,297 25,269 26.280 27,331 Phone%Utilities 3.00% 10,000 10,300 10,609 10,927 11,255 11,593 DuesiUcensesiEtc. 1.00% 650 657 663 670 676 683 Advertising 0.00% 3,400 3,400 3,400 3,400 3,400 3,400 Maintenance 5.00% 1,000 1,050 1,103 1,158 1,216 1,276 Supplies 3.00% 4,200 4,326 4,456 4,589 4,727 4,869 Cart Lease 2.00% 1,800 1,836 1,873 1,910 1,948 1,987 Cost of Sales 5.00% 4.900 5.145 5.402 5.672 5.956 6.254 Total Expenses 147.922 153.864 '50.063 166.530 173.278 180.319 Assummion Year 1 Descriptions % 1994 1995 1996 1997 1998 1999 REVENUES 177,200 187,964 243,862 257,305 320.796 3SZ585 EXPENSES 147,922 153.864 160.063 166.530 173.278 180.319 OPERATING INCOME 29,278 34,100 83,799 90,775 147,518 172,267 DEBT SERVICE (2.45-30 YEAR) 171,873 196,110 94,573 193.010 191.429 199,515 NET PROFIT/(LOSS) ($142.595) ($162.010) �S110.774) (5102.2351 (543.911) ($27.248) CUMULATIVE PROFITI(LOSS) ($142.595) (5304.605) S415.378) (S517.613) (S561.524) (5588.773) 10 26 -Jun -y2 roIections for Normandais Assumation Descnotions 2000 2001 2002 2003 2004 2005 INCOME: Rounas 33.075 34,729 35.000 35.000 35,000 35.000 Greens Fee $11.00 $11.50 512.00 $12.50 $13.00 $13.50 Subtotal 363.825 399.384 420.000 437,500 455,000 472.500 Concessions 5.00% 18,761 19,699 20,684 21,719 22.805 23.945 Carts 2.00% 4,166 4,374 4,593 4,822 5,064 5,317 Total Revenue $386.752 5423.457 5445.277 5464.041 5482.868 $501.761 Assumotion Descnotions 2000 2001 2002 2003 2004 2005 EXPENSES: ADMIN: Supt. wtbenefrts 4.00% 14,286 46,058 47,900 49,816 51,809 53.881 Seasonal - 3 (156 daysi 4.00% 33,161 34,488 35.867 37,302 38,794 40,346 MAINTENANCE: Chemicais/Fertiiizer 7.00% 15,007 16,058 17,182 18,385 19,672 21,049 Salaries 4.00% 23,155 24,082 25,045 26,047 27,088 28,172 CLUBHOUSE: ?art -time Manager 4.00% 12,653 13,159 13,686 14,233 14,802 15,395 Seasonal - 3 (156 days) 4.00% 28,424 29,561 30,744 31,973 33,252 34,582 PhoneWtilities 3.00% 11,941 12,299 12,668 13,048 13,439 13,842 Dues/LicensesiEtc. 1.00% 690 697 704 711 718 725 Advertising 0.00% 3,400 3,400 3,400 3,400 3,400 3.400 Maintenance 5.00% 1,340 1,407 1,477 1,551 1,629 1,710 Supplies 3.00% 5,015 5,165 5,320 5,480 5,644 5,814 Cart Lease 2.00% 2.027 2.068 2.109 2,151 2,194 2.238 Cost of Sales 5.00% 6.566 6.895 7.240 7.602 7.982 8.381 Total Expenses 187.667 195.336 203.341 211.698 220.424 229.535 Assumption Descriptions 010 2000 2001 2002 2003 2004 2005 REVENUES 386,752 423,457 445,277 464.041 482.868 501,761 EXPENSES 187,667 195.336 203.341 211.698 220.424 229.535 OPERATING INCOME 199,085 228.121 241.936 252,343 262,444 272,227 DEBT SERVICE (2.45-30 YEAR) 197,258 209,470 206,158 202.820 209.120 205,055 NET PROFIT/(LOSS) $1.828 $18.651 535.778 $49.523 $53.324 $67.172 CUMULATIVE PROFIT/(LOSS) ($586.945) (S568.294) 3532.516) (5482.993) (5429.6691 ($362.497) 11 2S,Jun 92 Projections ror Normanoale escnotions INCOME: Rounas 3reens Fee S ubtotal Concessions Carts Total Revenue Descriptions EXPENSES: ADMIN: Assumption 2006 2007 2008 2009 2010 2011 65.554 68,177 Seasonai-3056days) 35,000 35.000 35.000 35.000 35.000 35,000 $14.00 $14.50 $15.00 $15.50 S16,00 $16.50 490.000 507,500 525.000 542.500 560.000 577,500 5.00% 25,142 26.399 27,719 29,105 30,560 32,088 2.00% 5,583 5,862 6,155 6,462 6,786 7,125 $520.725 S539.761 $558.874 $578.067 5597.346 $616,713 Assumption o 2006 2007 2008 2009 2010 2011 Suat. wtoenems 4.00% 56,036 58,278 60,609 63,033 65.554 68,177 Seasonai-3056days) 4.00% 41,960 43.638 45,384 47,199 49.087 51,051 MAINTENANCE: ChemicaisiFertiiizer 7.00% 22,522 24,098 25,785 27,590 29.522 31,588 Salaries 4.00% 29,299 30,471 31,690 32,957 34,276 35,647 CLUBHOUSE. Part-time Manager 4.00% 16,010 16,651 17,317 18,009 18,730 19,479 Seasonal - 3 (156 days) 4.00% 35,966 37,404 38,900 40,456 42,075 43,758 Phone/Utilities 3.00% 14,258 14,685 15,126 15,580 16,047 16,528 DuewLicenses/ Etc. 1.00% 732 740 747 755 762 770 Advenisino 0.00% 3,400 3,400 3,400 3,400 3,400 3,400 Maintenance 5.00% 1,796 1,886 1,980 2,079 2.183 2,292 Suopiies 3.00% 5,988 6,168 6,353 6,543 6,740 6,942 Cart Lease 2.00% 2.283 2.328 2.375 2.423 2.471 2,520 Cost of Saies 5.00% 8.800 9.240 9.702 10.187 10.696 11.231 Total Expenses 239.049 248.987 259.367 270.212 281.542 293.382 Assumption Descriptions % 2006 2007 2008 2009 2010 2011 REVENUES 520,725 539,761 558,874 578,067 597,346 616,713 EXPENSES 239.049 248.987 259,367 270.212 281.542 293,382 OPERATING INCOME 281,675 290,774 299,507 307,856 315.804 323,331 DEBT SERVICE (2.45-30 YEAR) 200,945 211,288 206,094 200,881 195.650 214,525 NET PROFITI(LOSS) $80.730 S79.486 $93.413 $106.975 5120.154 $108.806 CUMULATIVE PROFITI(LOSS) ($281.767) S202.280) ($108.867) ($1,893) 5118.261 $227.067 12 26 -Jun -92 rojections for Normandale Assumption �escnovons % 2012 2013 2014 2015 2016 2017 INCOME: NCOM Rounas 35,000 35,000 35,000 35,000 35,000 35,000 Greens Fee $17.00 $17.50 $18.00 $18.50 $19.00 $19.50 Subtotal 595,000 612,500 630,000 647,500 565,000 682.500 Concessions 5.00% 33,693 35,377 37,146 39,003 40,954 43,001 Carts 2.00% 7,481 7,855 8,248 8,660 9,093 9,548 Total Revenue $636.174 5655.733 $675.394 $695.164 5715.047 $735.049 Assumption Descnotions °6 2012 2013 2014 2015 2016 2017 EXPENSES: ADMIN: Supt. wtoenems 4.00% 70,904 73,740 76,689 .79,757 82.947 86,265 Seasonal - 3 (156 daysi 4.00% 53,093 55,216 57,425 59,722 62.111 64,595 MAINTENANCE. ChemicaisiFertiiizer 7.00% 33,799 36,165 38,697 41,406 44,304 47,405 Salaries 4.00% 37,072 38,555 40,098 41,701 43,370 45,104 ,LUBHOUSE. Part-time Manager 4.00% 20,258 21,068 21,911 22.788 23,699 24,647 Seasonal - 3 (156 days) 4.00% 45,508 47,328 49,221 51,190 53,238 55.367 PhoneWtilities 3.00% 17,024 17,535 18,061 18,603 19,161 19,736 DussiLicensesiEtc. 1.00% 777 785 793 801 809 817 Advertising 0.00% 3,400 3,400 3,400 3,400 3,400 3,400 Maintenance 5.00% 2.407 2.527 2.653 2,786 2,925 3,072 SuDpiies 3.00% 7,150 7,365 7,586 7,813 8,048 8,289 Cart Lease 2.00% 2,571 2.622 2,675 2.728 2.783 2,838 Cost or Sales 5.00% 11,792 12.382 13.001 13.651 14.334 15.050 Total Exaenses 305.756 318.690 332.210 346.346 361.128 376.587 Assumption Descnotions % 2012 2013 2014 2015 2016 2017 REVENUES 636,174 655,733 675,394 695,164 715,047 735.049 EXPENSES 305,756 318.690 332.210 346.346 361.128 376.587 OPERATING INCOME 330,418 337,043 343,184 348,817 353,919 358.462 DEBT SERVICE (2.45.30 YEAR) 207,475 200,375 193,275 210.256 201,309 216,488 NET PROFIT/(LOSS) $122.943 3136.668 $149.909 $138.561 5152.610 $141.975 CUMULATIVE PROFIT/(LOSS) $350.010 5486.678 $636.587 $775.148 5927.758 $1,069.733 13 23--jun-92 Protections for Normanoale Descnotions Assumotion % 2018 2019 2020 2021 2022 INCOME: 89.716 93,304 97,036 100.918 104.955 hounds 35.000 35,000 35.000 35,000 35.000 Greens Fee $20.00 $20.50 $21.00 $21.50 $2200 Subtotal 700,000 717,500 735,000 752,500 770,000 Concessions 5.00% 45,151 47,409 49,779 52.268 54,882 -arts 2.00% 10,025 10,527 11,053 11,606 12.186 Total Revenue $755.177 $775.436 $795.832 3816.374 $837.068 Descnotions EXPENSES: :,OMIN: Suot. wibenents Seasonai - 3 (156 days) MAINTENANCE: ChemicaisiFertilizer Salaries CLUBHOUSE: Part-time Manager Seasonal - 3 (156 days) PhonelUtilities DuesiLicensesiEtc. Advertisina Maintenance Suooues Cart Lease Cost of Sales Total Expenses Descnotions REVENUES EXPENSES OPERATING INCOME DEBT SERVICE (2.45-30 YEAR) NET PROFIT/(LOSS) CUMULATIVE PROFITI(LOSS) Assumption 2018 2019 2020 2021 2022 4.00% 89.716 93,304 97,036 100.918 104.955 4.00% 67,179 69,866 72,661 75,567 78,590 7.00% 50,724 54,274 58,074 62.139 66,488 4.00% 46,908 48,785 50,736 52,766 54,876 4.00% 25,633 26,658 27,725 28,834 29,987 4.00% 57,582 59,885 62,281 64,772 67,363 3.00% 20,328 20,938 21,566 22.213 22,879 1.00% 825 834 842 850 859 0.00% 3,400 3,400 3,400 3,400 3,400 5.00% 3,225 3,386 3,556 3,733 3,920 3.00% 8,538 8,794 9.058 9,329 9,609 2.00% 2.895 2.953 3,012 3,072 3,134 5.00% 15.803 16.593 17.423 18.294 19.209 392.756 409.671 427,369 445.888 465.269 Assumption % 2018 2019 2020 2021 2022 755,177 775.436 795,832 816,374 837,068 392.756 409.671 427.369 445,888 465.269 362.421 365,765 368,464 370,486 371,799 205,763 195.000 184,200 221,600 207,200 $156.658 $170.765 5184.264 $148.886 $164,599 $1.226.391 $1.397.156 $1.581.419 51.730.306 $1.894.904 14 U :-l.ndum ed k Z O O -D -D F7 o z cn � o � Z — O z c m ---4 15 C 0 7- i Addendum D Proposed Building Height Limits t C` 16