52°F
weather icon Mostly Cloudy

Plan to save funds for pool, repairs drafted

A new funding plan recently drafted by city staff may allow Boulder City residents to enjoy a new or upgraded pool without having to pay more taxes.

Finance Director Diane Pelletier unveiled the plan, which stemmed from the ad-hoc pool committee meetings. It would allow the city to start saving for a new or renovated aquatic center without having to raise taxes for residents while details of the project are being determined.

The municipal pool is about 40 years old and in need of extensive repair, and must be brought up to current code or replaced altogether. In 2019, a ballot question asking whether the city could authorize issuing up to $40 million of general revenue bonds to pay for a new aquatic center failed. Issuing those bonds may have caused a tax increase.

“This plan is different,” said Pelletier. “It involves five steps, none of which requires a tax increase.”

According to Pelletier, staff is hoping these steps provide the city with at least $23 million in available funds for the pool.

She said the first step, or milestone, is using the $1.34 million anonymous donation to the pool that was received in June 2019. It has been put into a separate account and is accruing interest.

The next step is to ask City Council to pass an ordinance that will allow all unbudgeted excess revenue after expenditures from fiscal years 2019-2022 to be put into an aquatic center project fund.

“We hope this step generates about $5 million,” Pelletier said.

The next step is to have two questions on the November ballot that will provide money for the project from the capital improvement fund.

The first question would allow a one-time $7 million withdrawal from the fund and the second would allow for a $1 million yearly withdrawal until the pool construction starts.

The fourth step is a third ballot question that will ask voters to reappropriate land sales proceeds from Tract 350 toward the aquatic center project. Pelletier said that step is expected to bring in $10 million.

At its Feb. 11 meeting, City Council directed City Attorney Steve Morris to draft the three ballot questions and have staff work on a sunset clause for the yearly $1 million withdrawal from the capital improvement fund.

“Concurrently, we will be drafting the code amendment for approval by council sometime this spring,” Pelletier said.

If needed, the final step would be to ask the residents to approve a 10-year bond issue that would cover the balance needed for the project.

“The first four mile markers accumulate cash,” Pelletier said. “The final step … would ask voters in June 2021, or when final cost estimate is known, to authorize a medium-term bond, 10 years or less. This type of bond does not require a tax increase.”

“That’s certainly going to be attractive for the community that it would be done without a tax increase,” said Mayor Kiernan McManus during Pelletier’s presentation.

“I am very very happy with the staff,” Councilwoman Judy Hoskins said. “I think they’ve done such a fantastic job in figuring out a way to arrive at this, and I’m also very proud of the pool committee because they have tried to find alternatives for something that I think is very valuable for our children and for our seniors.”

Added Councilwoman Claudia Bridges: “… I feel like this is going in the right direction. … I like the idea of having to come up with a savings plan for that.”

Aquatic Center Financing Plan – Final for Council Use and Distribution by Boulder City Review on Scribd

Contact reporter Celia Shortt Goodyear at cgoodyear@bouldercityreview.com or at 702-586-9401. Follow her on Twitter @csgoodyear.

Don't miss the big stories. Like us on Facebook.
THE LATEST
Salary range, guidelines set for new city attorney, manager

The search for the next city manager and city attorney is a little more defined as City Council recently approved the salary range and compensation package for each position.

Purpose of proposed ballot question contested

City Council is divided on whether safety or growth is the purpose of a proposed ballot question about airport capital improvement projects and have yet to decide about moving forward with it.

Three announce plans to seek council seat

Candidate filing for Boulder City’s 2021 municipal election starts in less than two weeks and three residents have already announced their intention to run for city office.

Temporary staff check for COVID compliance

Boulder City is using temporary part-time code enforcement officers to help ensure that local businesses are complying with current health and safety guidelines for the pandemic.

Two council seats up for election

The 2021 municipal election will see residents voting to fill two seats on City Council as well as offer guidance on some community issues.

Old pet cemetery to remain intact

A new solar project will not infringe on the local pet cemetery put in place years ago by a longtime Boulder City resident.

Nevada’s road fatalities rose in 2020

Now that 2020 has come to a close, transportation officials hope the Las Vegas Valley can leave the “worst year ever” in its rear-view mirror.

Police raise awareness of 3-foot bicycle law to motorists

Local law enforcement agencies joined to raise awareness of Nevada’s “3-foot rule” for motorists during an enforcement event Dec. 30 on a trio of Summerlin roads.