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<br />Some of the accomplishments were increase in the enrollment capacity of the before and <br />after school program at Sandpiper from 60 to 70 spaces. Community meetings were held <br />for input on needs and feedback on the task force work, a child care needs survey was <br />conducted, presentations were made to many community organizations gaining letters of <br />support from the RSHOA and RSOA, business owners and the Chamber of Commerce <br />Economic Development Committee. Informative articles were published articles in the <br />community newsletters and contact and meetings occurred with many employers and <br />developers. Potential sites identified were Mariner and Marlin park sites where some open <br />space might be used for a small facility and the empty lot behind the Fire Station, but all <br />sites were met with resistance from the residents around those sites concerned with parking <br />and noise issues. The fourth potential site was the large lot at Marine and Bridge Parkways. <br />Max Keech approached the Task Force approximately two months ago with an initial <br />proposal. The Task Force felt that if the land were dedicated for childcare use it should <br />remain that. <br /> <br />Parks and Recreation Manager Hannon spoke of four options: land lease with a private <br />developer, land sale with a private developer, City acting as a developer, or do nothing at <br />this time. She went through the pros and cons of each option and stated that although four <br />traditional alternatives had been presented it would be extremely difficult for any developer <br />to qualify for traditional financing. In order to more fully explore childcare on this site, <br />meeting the community's needs and the Council priority of youth, some creative financing <br />options were presented. The alternative financing strategies proposed were to use funds <br />from City reserves to finance the construction of the child care facility or for the City to <br />secure exempt financing on those certificates of participation to construct the child care <br />facility. The pros and cons of those options were explained. <br /> <br />Parks and Recreation Manager Hannon stated staff is seeking direction on proceeding with <br />childcare development on this site or do nothing at this time. If going forward, the question <br />is whether to work with a private developer or for the City to act as the developer. A <br />funding alternative would need to be decided upon in either scenario. The recommendation <br />would be to enter into a lease rather than a sale and the property would go out to bid. <br /> <br />Financial Services Director Ponty discussed the reserves and the types of reserves the <br />funding might come from. He stated the City could be the lender and loan money to a <br />private developer coming from General Fund reserves or use tax exempt bonds. One <br />additional alternative determined since the report was published was that the City could <br />issue taxable bonds freeing the need to work with a nonprofit, but still may have issues of <br />whether that interest rate would work or not. The most likely source for funding would be <br />the General Fund and the anticipated pay back period on the loan is a 20-year amortization <br />schedule. <br /> <br />Max Keech thanked City Manager Everett and staff members Julie Hannon, Kristen <br />Anderson and Brian Ponty. He stated one of the key issues is whether it is financeable. The <br />site currently takes access as the hotel site does, through Pico Boulevard, which has no <br />utility service. Better access was proposed to be by building an access and future extension <br /> <br />REGULAR COUNCIL MEETING <br />MINUTES <br /> <br />JUNE 26, 2000 <br />PAGE 6 <br />