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2022-09-20 CC Agenda Packet - PRESENTATION - ITEM E14 - Park Vista
Park Vista: ASKS based upon presentation to City Council Paul Lanyi for the PV Board August 29, 2022 Financials (option 1) Assumes 3% increase to current tenants 2023 -2026 and 60% market rate through 2026 for new tenants fgrk V%u 20 N. tg4Slgi 2021 2024 202S M26 2227 Ma 2029 2030 20)1 32 20).9 21J4 2035 2016 1� M3 2�9 M40 Mal 2042 Total Revernre SaW062 $927,192 S967,847 $I,019.924 S1,07Q469 $1,120.709 $1,172•D13 $1,221.403 S11R0,101 $1.341,S29 53.401,992 S1,467,15M S1,530.259 $1,5%.S3a S3,656,935 S1.72S.1 S1.7%•220 51.967958 S7,4s1.131 S2•QIS,76R 52.091997 $30,02S.70S 4peroea ISW7, L4p1 S77O446 37]ti. [S f6l.4 )PAWI71 SAIkI 2 ISLai Llrh 1542S 4L5t G90LSr10 :if197l91 [39 f1,aLl x iW;,4L1 LS1 4101 13SJPLL3'SSI tS1JZ$,On7 16. :1-710, I"1 �51.7'•S 141'• 1 t.. 10L9a41 113,152.212] !Sl-yti-I W Net Si ZLQZ! SZL6.7I6 S232.SS1 S251XM 52S7f4o $304[/7 Six"& 51t,.%I Sl71,371 S4Q1�1 S41L511S S458.3116 1419MM S5i LS7Z SSUAW SSS9,012 S595AM 5611-117 S\Mi41 1663S 3615.425 (-peal finerru SSto-COPI d"9-Soil IY,t+"t51 (526,250) 15117721 ISC01171) Wf4$6rU r3654 n151 ISi II 1191 [5 W7.4%1 IS267SM (S956.SMI 159$,JoM 5SSM0261 IS701,720) IIJ61_14n W70,2121 r55u 11-'i •32S0.0p0I 152 AXI ismcWl TranJ. m from fund SOa Sn¢QD D so so S2AI10 $35,272 $Q l4 iZ _}6S SO 513L3l9 50 $242f0 Si713000 . 5100.Qo0 i10Q000 5100.W0 $O 50 A10 SD SC Rehmto [9urry Sn"I't rS417.774I :5416.4JII 52SL794• SMIM 1f1974644 5174"1 151(1.111 S.SiL191 $2 165 f410,115 ISi21.7i11 Iiii2,W SWIS02 t512AW01 t J071611 ':-)U1161 S2a,WL 5141141 $411546 S4][.425 Segrmrng fgrrty $1,6170 NO Sf?2R072 51.195248 mii,244 17-] of Sl.4oD.0n iL100-L91 SL4l7,4}7 11-111SS4 SL491, 775 53.it3,139 5Lw1.l S4 Sf-569.911 51.117I71 Sf.273.774 SF.1609F] SS5S,547 S1N,lll S7SSlli 51.18g1T4 Ss-599.92Q [Ildrr![OtitV SLf11022 i1.195M SLS1W S111761R Si,/00D11 5L100,574 SUl7Al1 S1.S115Y SLHL111 SIALLi3S SL'14,. S1,SL9Z SLl>•7.271 SLZlL774 51.450.913 S951S47 S771�71 57SL21Z SL1K774 S1S!l:12Q ctml [u Gt's 504 fr.d • - �+�• S900,000 S900000 $900 D00 S873,7S0 583A 478 $83847R S601,610 $603,610 S471,471 S472,471 S446,221 $121221 5221,221 $121.221 $21.221 $21.221 $21.221 S21,211 S21,221 S21221 $21,221 Teel fuMt 44vR4R4t b Rah Vkaa SLii►0!2 S7.195..5[[ $l.!• LH SI-191-Y! S113[.514 31.937-077 SlA1LW7 $1.21LI f SL%.Hrlr SL%SALO SL129.&n SI.N I. b2 51,4I L02 SL s"IllS S1.MA32 SIM769 57K,JU S919M= S3AS7ISfi Recommmtletl Reserve: 10%0l aprraOng ewrnu • 2 fear alcaprtal 5177.703 SS.WI,S13 "fiLl62 5113,435 SMI46 S920-WI 'An 262 S17L242 $but! SSOQ659 S]C�176 S70i!OM_51.618l5S 51.3t1241 $157161a S1,6afiliS SI a79.398 S%3691 5630 M9 5635221 5390 Y17 G-p (under) -mercled .etervr. S111o.ili SLPS.iK Srimm 542133,75)i 131c21130 $1.01241t 51,056223 5114L.437 SLWI.197 Si+L1911 $1--1{%M IS3 )MO SS2177663 +53 MI Wsi&411) I$USLSIli t4699.0a61 (5144-238) SS77-296 _SUS_919SI-664119 Reaearue4tsunptrms 1%rrcreate.rerdtlM23.20161. and 7%.crease lhtraRer 1Km Pe•lrrrg lee every near,4unrtslr,m.q mer per yrarBnew tmanb axerM at 6b%olmeet rate lhms¢r M26L65K d+neahn 12027-20421 [aperoe Rtsumpt-, 2%.-0.-a- It,, management -"act 1%FW rrnlmet. S%for all other eapemn 0peal Retumplo Bata m the C,ty's mdepmdmt fa arty attetament Wan of Park Vnta, conducted Iry tte C, s Pubic Woks Department Financials (option 2) Assumes 2% increase to current tenants and 65% market rate 2023+ for new tenants Daf6 Vhn MvIrw RpeS d M22 2023 IQZ a= 2M 2022 2028 2029 2030 2012 2L 2013 203a 2035 2�(: 2037 � 2039 2W 2L7 2042 Revenue $810.062 5913,30d 59(b,52a S1,O10.741 11. 11.1. 51.123.279 11.111.631 11,224.078 S1,283,029 $134C,312 S1,4MI120 S1470,576 51,533,212 $1,599,S66 SI,660,007 51,729,021 S1.799,316 51,871.211 $1.944.456 S2,019.1S9 $2,095,357 $30,071,748 [.peen ISiB=.OR1 +SILGSG6 {521S.tL�SI 1i Zi101 157p.0"' I;Aj I. e:2P Ij l::y 41.I 72v; ISi+1,lt.7; i$1 W'i,4I RI 111.04C-AM1 I,fo 155H 151.EY.-07RI iiuy,305 I_70 191`: EI S1.7 :51.' 41 'SS. i2."81 i3i.f57 =21I 63.401,0SI Net $72;022 SIlIA12 $231.254 S7S9615 PsLW $307.7i4 SS2RS05 Swow 537k099 5-0 1 5417,951 SRi;iH $-EKW S634i'm $11a,979 556706 _ 1519A72 5615.477 S64 L464 SWO.;2 VASA$ CaP4l Eapenu 1"000 i56n,nli +S6fd,w51 IS f4 15-q i$T12721 J004.I kt3 1523466H) 15654 Bill !$531AM t5360►563 (573.150E f5954.5791 ISV5w 3q IS5T3,p741 15 504. 7211J l32i1, uil ui :5'.re 30 ii`/7eU,: =7'.0 IMI •S'-'.0=1 [ vnnirme 104 $96A00 $0 W $262SO 535.272 50 S234,848 $0 $131,139 $0 526250 Sln W0 51Ok000 '300.000 SWOA32 S0 50 A SO SO $0 Return to E9wlT SM022 -5434?N1 •-$E17. tll PS,9.61S $214.-W t5 r+-'11i S3.9.505 lik4 Ifi! SMA19 S1lw S✓U.951 i5S7J.3781 ,XA 157, S79S71 il, •>4i; 151.39.11fi Jill L22% $17.36t IK1.u3 Sa:C.417 S-a_._q$ BegmninB E9�M $1.X 5111721,011 51SS291 953,613 51,I1241 S1,398.208 51,101.294 $1430,79 $1,124.521 5LSOL49 51524,66 51,9S7S99 SI,587,221 $1217.464 S1,256978 $1197119 598741S7 5806,737 S834,098 $I1125,566 51642503 [.&,% ILLM L05JS6 SLL7 SIAZA 1 S " SLS24666 S1957 99 U U7 SL25L971 SI_Il.Itl 59119S7 737 LLA9 SUMS" SAIL"M SLOM3tl C SO4 fund saa�..- 5900000 S900A00 5901D ODO 5173.7SO S838A78 $218,479 S603,620 $601620 $472.471 $472.47L S446.221 $322.221 5221,221 S221,221 S21121 S21.221 S2021 521.22L 521.221 521121 521,221 Talal fwM 2fea6flNb eark Vlraa $1.671,0[S S2A9LXd S1.1S3,633 11.916.997 76.696 S3.93S.77i 5LOS4,4t)7 SS 7ZL511 317 910 $1017.717 S4SO"20 51,50ta92 S3AMAS $1J7L191 51.SOLQll 51,0 All sill."1 M5.319 SL71L717 SIA63714 SQ. MIM Reenrnnumded Rncne: pperaR.g erpmu • 7 Karadwtil 5717.705 S53L3.513 1761042 Si17615 5235.446 S9Z0.641 1974.363 $371742 56W.4do 5'WQ633 51.080.126 -PA"ALA 51626251 S7.1p,29i S23M414 SLWAIS SEA7'3M SM. 69Z SAW299 5655722 S390,3A7 0.crPl��xr1 recpmmeMed reserve+ S .50_317 S101R27 S98L871 S1.949363 S]Sl 440 51.029131 S1,060.147 SHSJ,449 SI.370.522 S1.496A58 SL3236M (SID5.5781 15197_573) 330.0921 (S370.2051 15639.137) 15651.4401 I5308_3721 $616.489 $1.021LS02 $2.715.261 Revenue Afllan0-1%muenem-1112022.20e21.2% m awnng fee every 7em. 4-twningD Der Sear&nee lenankf nt44rsa16S%agmukel rate 6ermmg in 2023(2023 20421 t.Deree 4swmptcnr' 2+: annpl ngeHla 7Pr rlu'faSMrKM contract 3% fw u06nn, 5% fw MI Dlher eapentes Caa•ul Aswmw- Bned m tlx Gh i independent I,g6ri n+nvnerrl dan d Dark 5rlla mMuned M the Cnv'f D WI t WM� Depa.trnerN Adjusted Requests of City Cou nci L 1) Permit the Board to raise parking rates 2% per annum until canceled - recommended by City Director of Finance 2) Based upon comments from some Council members, do not ask current residents for more than 2% increase. To make up for this, start 65% of market rate 1I1I2023 for new tenants. This puts the burden on new residents rather than existing. Entire PV Board concurs. 3) The Board requests that City Council formally dedicates 504 funds solely for Park Vista