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I Council Meeting Minutes September 10, 1990 Page 5 Council Business, continued The site, bounded by 1-694 on the north, 1-35W on the east, 10th Street NW on the south, and 5th Avenue NWon the west, was selected for its central 1 ocati on, adequate space, potenti a 1 for future expansion, buildable soils"availability of utilities, potential to spur redevelopment, and iffordable cost. The design plans include: an aquatics area, community rooms, congregate dining and banquet room, senior lounge, art rooms, classrooms, indoor play area, gymnasiums, fitness and weights area, teen lounge, and possible ice arena. Childs reiterated that the current proposal does not include the ice arena. The total cost estimate is $7.5 million, and includes property acquisition, construction, furnishings, landscaping, and equipment. I Childs said upon touring the Moore Lake Fitness Facility he found it larger than the proposed community center, but it does not cater to a family environment with social activities such as New Brighton's proposed facility. The fee structures are substantially different and illustrate that the proposed community center facilities would be more affordable to residents and non-residents. Anderson confi rmed there is a "1 azy ri verI! water component in Colorado and was told it is heavily used. Williams suggested further research be done on the feasi bil ity of thi s component. Williams noted he has enjoyed working with the Task Force and found each member to be very committed to the process. Finance Director Margaret Egan said staff, the fiscal consultant and the City Attorney1s office worked to develop a financing approach. After considering several alternatives, it is recommended the strategy of general obligation bonds be used in conjunction with some contribution from the Environmental fund. General obligation bonds achieve several objectives: they must be approved by the electorate, reserves are preserved, annual taxes are minimized because bonds allow costs be repaid over a number years, and existing general services are unaffected because taxes for bonds are outside the levy limitation. I Because the bonds can be issued on 1 y after approval by res i dent vote, the voti ng process gi ves resi dents the opportuni ty to be involved in making the decision. Childs said the issue is proposed to be placed on the November 6th General El ecti on ballot and reviewed the wording of the ballot. Council Business Content, Financial, and Referendum Report on Proposed Community Ctr. Report 90-196A Report 90-1966 Report 90-196C Resolution 90-076 Resolution 90-077