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2 <br />original Ice Rink Dehumidification System and $100,000 to replace fitness equipment that has <br />reached the end -of- useful life. A recent comprehensive preventative maintenance evaluation of <br />the Dehumidification unit concluded that all of its main operating components were in very good <br />working order and that the need for replacement was not imminent. Additionally, a full pricing <br />work -up of replacement fitness equipment indicates that only $80,000 of the budgeted <br />$100,000 is needed. <br />Staff recommends that $120,000 ($100,000 from the rink Dehumidification unit plus $20,000 <br />from the fitness equipment) be reallocated to replace the ice skate compatible flooring as well <br />as the bathroom dividers, with the work completed as part of the current Lobby project to <br />achieve the financial and timetable synergies of performing the work while renovations are <br />already in progress. $25,000 in surplus funds may return to the SportsPlex fund balance or <br />may be treated as a contingency fund for these projects. <br />FINANCIAL IMPACT: The SportsPlex Capital project fund has adequate funds for this budget <br />amendment and will be supported by the projected revenues generated. The projected <br />incremental 5 year net income resulting from the lobby renovations (including the flooring and <br />restroom partition replacements) amounts to $537,500 — an estimated 5 year payback for the <br />investment. <br />The proposed Budget Amendment #2 -B is as follows: <br />RECOMMENDATION(S): The Manager recommends the Board approve Budget Amendment <br />#2 -B re- purposing appropriated SportsPlex funds for improved ice skate compatible flooring and <br />restroom partitions. <br />FY2013 -14 <br />CIP <br />Requested <br />Adjustment <br />Adjusted CIP <br />Dehumidification Replacement <br />$125,000 <br />($125,000) <br />$0 <br />Exercise Equipment <br />$100,000 <br />($20,000) <br />$80,000 <br />Lobby, Restroom Flooring <br />Replacement <br />$0 <br />$100,000 <br />$100,000 <br />Restroom Stall Divider Replacement <br />$0 <br />$20,000 <br />$20,000 <br />Sportsplex fund balance or project <br />contingency fund <br />$0 <br />$25,000 <br />$25,000 <br />Total <br />$225,000 <br />$0 <br />$225,000 <br />RECOMMENDATION(S): The Manager recommends the Board approve Budget Amendment <br />#2 -B re- purposing appropriated SportsPlex funds for improved ice skate compatible flooring and <br />restroom partitions. <br />