Orange County NC Website
Browse       Search
• Cost of Senior Center Modification and Upfit <br />• LGC Approval <br />• Reasonable Repairs or Allowances Provided by Eaton Vance In Transaction <br />• City & County Technical Review of Plans (Setbacks, Impervious Surface, Parking) <br />Final Recap: <br />• Less Costly Operation <br />• Professional Management <br />• Faster Process to Deliver Facility <br />• More "Bang for the Buck" <br />• More Value for Seniors <br />- Dedicated Space <br />- Access to Additional Shared Space <br />- Special Facility Experience <br />Ken Redfoot spoke about the Facilities Investigation and Evaluation Report. This <br />report was originally done in 2002. The updated report includes a documentation of all of the <br />different systems in the building. They analyzed the architectural systems, mechanical <br />systems, electrical systems, pool systems, and ice rink systems. The aspects highlighted in <br />yellow need immediate attention and total $120,000 for architectural; $522,000 for mechanical; <br />$59,000 for electrical; $223,000 for pools; and $47,500 for ice rink. This total is for abnormal <br />maintenance services and is $971,480. <br />John Link made reference to tab 4 and the total cost of $581,000 and asked if this was <br />included in the $1.3 million. It was answered that it is included in the total cost. <br />Commissioner Gordon verified that a totally new pool would cost $441,000. She asked <br />what it would have cost ten years ago and Ken Smith said probably between $325-350,000. <br />Continuation of presentation. <br />Commissioner Gordon asked to see a page without the $6 million debt and see how the <br />Sportsplex is doing now. <br />Commissioner Gordon asked how much Eaton Vance paid for the facility. Rod Visser <br />said that Eaton Vance originally issued $10.625 million in bonds for this. From Eaton Vance's <br />overall financial perspective, they feel they have invested $10.625 million up front, and that in <br />the ten years since the facility has been open, they have lost $6 million in interest that would <br />have been earned had there been sufficient revenue generated to pay the interest on the <br />bonds that were used to pay for it. Commissioner Gordon stated that from the County's <br />