The breakdown
Four options were presented to the Town Council during the Aug. 25 meeting during a work session prior to the regular meeting. Council voted 4-3 in favor of awarding The Fain Group the contract for the construction of Option 2, which was $1.8 million and $282,000 under the projected budget, according to the presentation.
Council members Steve Flynn, Jeff Beach, Rhylan Rowe and Garry Ash voted in favor of Option 2. Mayor Jeannette Tiffany and council members Stacey Bauer and Dennis Sheridan voted against it, with the trio stating their preference for Option 4. Bauer and Beach joined the meeting via Zoom.
Council approved a concept for Phase 2 of pool renovations during the Feb. 24 council meeting. Council members voted to go with a concept that featured a double water slide and cost $2.4 million or less, according to previous reporting.
After paying $402,309 to Parkhill for architecture work, the town had $2.08 million left. According to city documents, sealed bids were opened Aug. 14.
The presented designs were:
- Option 1: $2.06 million, which removes the second slide from the base bid, reconstructs the kiddie pool and removes the shade structure from the kiddie pool
- Option 2: $1.8 million, which removes the slide complex and features additional shading and cabanas
- Option 3: $1.8 million, which removes the second slide from the base bid and the kiddie pool; adds an amount for maintenance and repair on the kiddie pool with a shade structure over it
- Option 4: $2.4 million, which keeps everything in the base bid and reduces it to one slide; adds shade structure over kiddie pool and an alternate for cabana areas
Council approved accepting a bid from Piper Sandler Co. for a certificate of obligation in the amount of $7.8 million.
The Minneapolis-based investment bank provided an interest rate of about 3.63%, which was below the estimate of 5%, said Jack McLiney with SAMCO Capital Markets, the town’s financial adviser. McLiney said the cost with maturity is $7.8 million, below the town’s maximum principal amount of $8.15 million.
The money will be used for capital improvement projects, which were discussed at the June 23 meeting, according to previous reporting. The work includes:
- Street improvements for pavement reconstruction, curbs, gutters and drainage improvements
- Sidewalk improvements focusing on enhanced pedestrian connectivity and safety
- Remodel of the Parks and Streets Shop to improve operational efficiency and working conditions for town staff
Items worth mentioning
Council tabled approval of a small area plan for the Grove at TC.
The town hired The John R. McAdams Company to do a small area plan for a recreational property along SH 114 and Trophy Wood Drive.
McAdams and Catalyst, a third-party consultant, presented options of what redevelopment would look like during the meeting. A concept plan included mixed-use development with retail and apartments, which drew criticism from council members.
“We have 5 acres in one spot; we have over two in another that are ours to figure out how to develop,” Rowe said. “Obviously, there are other opportunities that might get redeveloped down the road. But to be able to move forward with it and have it be publicly palatable, we have to take multifamily off the table; that's the only way we can move forward.”
To date, the town has paid McAdams $93,000 for the study.
