Tuesday, September 23, 2008
Seems Backwards
Nice to see that Hickory Ridge is doing well, though this seems backwards to me:
So far this year, the district's expenses, including the cost of maintenance, is about $5,000 less than its revenue. Renfro said she sees that gap closing.
"We feel like the projections, over 12 months, the budget will cover expenditures," she said.
Maybe golf course economics is different but if your expenses are $5000 less than revenues, why would you want that gap to close?
So far this year, the district's expenses, including the cost of maintenance, is about $5,000 less than its revenue. Renfro said she sees that gap closing.
"We feel like the projections, over 12 months, the budget will cover expenditures," she said.
Maybe golf course economics is different but if your expenses are $5000 less than revenues, why would you want that gap to close?
Labels: Hickory Ridge, Park District
Tuesday, July 22, 2008
BMX Track
Got curious about the abandoned BMX track behind Evergreen Terrace so asked the Park Board about it Several years ago, some community members interested in having a BMX track in Carbondale approached the board about building one. They raised money for it and built it, with the Park Board agreeing, by contract, to provide the land and maintain it.
Shortly after the park was built, the driving force (and chief fundraiser) behind the track moved out of the area and no-one else stepped up to the plate to keep working on it. Since it was not a high priority for the Park Board at the time, coupled with declining interest in the track, when the contract expired three or 4 years later, the on-site trailer was removed and the park abandoned. The current board is interested in suggestions on what to do with the property but I believe there are minimal funds, if any, available from the Park District to implement any ideas.
Shortly after the park was built, the driving force (and chief fundraiser) behind the track moved out of the area and no-one else stepped up to the plate to keep working on it. Since it was not a high priority for the Park Board at the time, coupled with declining interest in the track, when the contract expired three or 4 years later, the on-site trailer was removed and the park abandoned. The current board is interested in suggestions on what to do with the property but I believe there are minimal funds, if any, available from the Park District to implement any ideas.
Labels: Park District
Monday, June 16, 2008
Park Board Meeting
The CPD BOD meeting starts at 5 p.m. this afternoon with public comments, followed by actual decisions being made after 6 p.m. So, if you want to see people complaining about not enough money being spent on their preferred projects and how the BOD is probably violating all sorts of rules, while the board members smile and nod politely, show up at the Civic Center around 5.
Labels: Park District
Friday, June 6, 2008
Carbondale Park District and Hickory Ridge
Apparently the Carbondale Park District is going to be pretty short on cash for the next couple of years. I was talking with Park Board member Carmen Suarez yesterday and from what I understand, the funding problems date back to the way in which Hickory Ridge Golf Course was funded in 1993.
Building the course was controversial back then, so one of the selling points was paying off the loan on the course (and later the clubhouse) in 15 years, whereas a more typical loan would have ran 20 to 30 years. This meant significantly higher payments than normal and in recent years, the course has not generated sufficient revenue to make the payments. The loans have been restructured a couple of times to get caught up on interested and debt service but there hasn't been much principal reduction. Currently, Hickory Ridge generates enough revenue to cover operating expenses but that's it.
Currently the plan is to cover interest payments for the next couple of years until the loan can be restructured again in 2010. The loan's time frame will be extended and yearly payments will drop from around $400,000 to the neighborhood of $200,000, freeing up the difference for needed maintenance and other projects.
Building the course was controversial back then, so one of the selling points was paying off the loan on the course (and later the clubhouse) in 15 years, whereas a more typical loan would have ran 20 to 30 years. This meant significantly higher payments than normal and in recent years, the course has not generated sufficient revenue to make the payments. The loans have been restructured a couple of times to get caught up on interested and debt service but there hasn't been much principal reduction. Currently, Hickory Ridge generates enough revenue to cover operating expenses but that's it.
Currently the plan is to cover interest payments for the next couple of years until the loan can be restructured again in 2010. The loan's time frame will be extended and yearly payments will drop from around $400,000 to the neighborhood of $200,000, freeing up the difference for needed maintenance and other projects.
Labels: Hickory Ridge, Park District
Tuesday, March 11, 2008
Still in Debt
The Carbondale Park Board will meet this Thursday evening to try to figure out how to cover an expected $100,000 debt in this year's budget. The proposal at the Feb 27th to cover the shortfall by eliminating the positions of Assistant Golf Pro and Superintendent of Childcare was met with strenuous objection by several golfers and parents, including former Park Board President Michael Heck, who, according to the Carbondale Times (available in a finer newspaper rack near you), suggested cutting all district staff salaries by 2%, eliminating the contingency fund or getting rid of the bookkeeper. This Thursday's meeting will go through the budget line by line to see if any potential costs can be cut to meet the $100,000 shortage.
Labels: Park District
Tuesday, December 18, 2007
Park Board Update
Not much on the agenda at this month's Park Board meeting. Apparently they approved putting up a sign announcing "Public Welcome" at the front of Hickory Lodge in November. The December meeting was taken up with administrative stuff such as maintenance at Attucks, the tax levy and abatement, as well as setting up a park foundation through which donations to the park district can be directed.
Labels: Park District
Wednesday, September 26, 2007
Hickory Lodge Task Force Proposal
Last weeks C'dale Times had a front page article on the report from the Hickory Lodge Task force regarding what to be done with the Hickory Lodge property and it's a pretty good list: renovate Hickory Lodge, 170 seat theater and center for performing arts, botanical garden, walking paths, outdoor facilities for weddings and other events, and an environmental learning center. The general feeling of the board, I gather, is "Yes, these are great ideas, yes, we'd like to do them, no, we don't have the money."
However if the proposed Friends of Hickory Lodge fundraising organization gets established, as per the proposal, the monetary problems facing the board would certainly drop.
However if the proposed Friends of Hickory Lodge fundraising organization gets established, as per the proposal, the monetary problems facing the board would certainly drop.
Labels: Park District
Monday, August 27, 2007
Park District Goings On
Whilst the DE and the Southern have focused on the activities of the City Council in the past couple of weeks, the Carbondale Times has run a couple of detailed front page stories on the Park District, Hickory Lodge and the Park District budget. Unfortunately, for those of you who only read the new online, the Times is print only, but you can find it all around town.
One thing that really stuck out in the article that ran in the August 15th issue was the proposal by the Stage Company to build a theater on the Park District acreage catty-corner to the old high school football field. Two proposals were offered. Under one, the Stage Company would take out a mortgage, buy the property outright, make payments on the loan and obtain private funding for the building. Under option two, the Park District would front the money for the building, which the Stage Company would then occupy as a rent paying main tenant.
I don't see either one of these working out. From what I've heard, and feel free to correct me if you have more info, the Stage Company has been looking for funding for a new building ever since they lost their $1 a year lease on the old bank building when it was condemned and no angels have stepped up.
Option two also looks unlikely, given the amount of debt the Park District is carrying from the building of the golf course. Refinancing the loan has helped the Park District with their budget but not to the point where they have the kind of cash flow coming in to fund a major building project like a theater.
One thing that really stuck out in the article that ran in the August 15th issue was the proposal by the Stage Company to build a theater on the Park District acreage catty-corner to the old high school football field. Two proposals were offered. Under one, the Stage Company would take out a mortgage, buy the property outright, make payments on the loan and obtain private funding for the building. Under option two, the Park District would front the money for the building, which the Stage Company would then occupy as a rent paying main tenant.
I don't see either one of these working out. From what I've heard, and feel free to correct me if you have more info, the Stage Company has been looking for funding for a new building ever since they lost their $1 a year lease on the old bank building when it was condemned and no angels have stepped up.
Option two also looks unlikely, given the amount of debt the Park District is carrying from the building of the golf course. Refinancing the loan has helped the Park District with their budget but not to the point where they have the kind of cash flow coming in to fund a major building project like a theater.
Labels: Carbondale Times, Park District, Stage Company
Monday, August 20, 2007
Field of Dreams
SIUC law professor Leonard Gross has a piece in yesterday's southern Illinoisan on the $20 million proposal that's worth a read. He does point out some potentially flawed assumptions as well as thecommunity's past experience with Hickory Ridge Golf course.
Labels: City council, Park District, taxes
Monday, July 23, 2007
Where's the Money Going?
If either of the two tax proposals goes through (Yes Virginia, there are two possible taxes proposed), here's where the money's going:
1. Public Safety Center--to be built on the site where the old Lincoln School stood. This will house the Carbondale Police Department, Fire Department Administration, Emergency Management Services and SIUC Department of Public Safety. Apparently, the city is looking for federal funding for this. If we can't get it, the preliminary estimate for the city footing the bill is $6.2 million.
2. Westside Fire Station. Due to growth of the city, "the one at the corner of Oakland and Walnut has become obsolete", is not built to earthquake standards and will likely collapse if an earthquake hits. Cost of a new station further west is $1.25 million.
3. Development of open pace including bikeways, greenways and sidewalks plus a $35,000 one time grant to the park District for improvements at the Carbondale LIFE Community Center. Total money devoted to this, $500,000.
4. Saluki Way This is the big one, kids. $20 million over the next 20 years to help fund renovations at the SIU Arena and the replacement of McAndrew Stadium. Estimate cost for both: $80 million. $38 million is coming from student fees. Apparently, as noted earlier this week, SIUC doesn't have any other large donors lined up, the city will be the first and hopefully other private sources will follow in our footsteps.
Total cost for the whole shebang, $28 million bucks.
1. Public Safety Center--to be built on the site where the old Lincoln School stood. This will house the Carbondale Police Department, Fire Department Administration, Emergency Management Services and SIUC Department of Public Safety. Apparently, the city is looking for federal funding for this. If we can't get it, the preliminary estimate for the city footing the bill is $6.2 million.
2. Westside Fire Station. Due to growth of the city, "the one at the corner of Oakland and Walnut has become obsolete", is not built to earthquake standards and will likely collapse if an earthquake hits. Cost of a new station further west is $1.25 million.
3. Development of open pace including bikeways, greenways and sidewalks plus a $35,000 one time grant to the park District for improvements at the Carbondale LIFE Community Center. Total money devoted to this, $500,000.
4. Saluki Way This is the big one, kids. $20 million over the next 20 years to help fund renovations at the SIU Arena and the replacement of McAndrew Stadium. Estimate cost for both: $80 million. $38 million is coming from student fees. Apparently, as noted earlier this week, SIUC doesn't have any other large donors lined up, the city will be the first and hopefully other private sources will follow in our footsteps.
Total cost for the whole shebang, $28 million bucks.
Labels: business, city government, lincoln jr. high school razing, Park District, siu
Monday, April 9, 2007
Carbondale Park District Board Debate Slated
A debate between candidates for the Carbondale Park District Board is scheduled for
Sunday, April 15, from 3 to 5 PM at the Fellowship Hall First Christian Church, 306 Monroe Street, Carbondale.
Questions focusing on neighborhood issues from the audience are encouraged.
The Park Board election along with municipal elections will be held April 17th, 2007.
Sunday, April 15, from 3 to 5 PM at the Fellowship Hall First Christian Church, 306 Monroe Street, Carbondale.
Questions focusing on neighborhood issues from the audience are encouraged.
The Park Board election along with municipal elections will be held April 17th, 2007.
Labels: Carbondale, Debate, Park District
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