University Park Recreation District Deferred Maintenance and Capital Improvement Planning

APRIL 21, 2023

The Four Questions Guiding our Efforts

What are the existing problems in University Park?
What are reasonable solutions to these problems?
How much will these solutions cost?
How will we pay for these solutions?

What have we sought to tackle?
Critical Deferred Maintenance - Items that were long overdue for correction that had long term ramifications for the health of the Club
Golf Course Irrigation System $5.4 million
Golf Course Banks, Bulkheads, etc $.5 million
Kitchen reconfiguration and modernization $2.9 million
Unsafe and poor quality conditions for Staff

Necessary Capital Improvements to meet member demand - Items that were important to meet member insistence on adequate space for activities
Gathering Rooms
Group Fitness Facilities
Existing Fitness Facility

Desired Capital Improvements - to enhance the member experience

Move member bar to lakefront
Relocate Pro shop closer to rest of golf operation

Last Year’s Plan

Golf Course Irrigation & Infrastructure
Renovations:
Kitchen
Member Bar at site of Pro Shop (“28th hole)
New Spaces:
Cart Barn w/ Pro Shop
New 16,000 Square Foot Club Center with Gathering Rooms, Fitness facilities, offices

Estimated Cost: $18.0 Million (now $20.0 Million+)

When we last left you ….
Golf Course Irrigation & Infrastructure
Renovations:
Kitchen
Administrative Offices (VC 2nd Floor)
Varsity Club 1st Floor
Fitness Center
Member Bar (“28th hole)
New Spaces:
Cart Barn w/ Pro Shop
Group Fitness
Estimated Cost: $13.0 Million

So, what was all this projected to cost?

Note: this Subtotal did not include contingencies and soft costs

But then we received actual estimates ...

Note: The new total included contingencies and soft costs

Yikes!

Luckily we were working on a contingency plan that addresses both the Critical Deferred Maintenance items and the Necessary Capital Improvements

Critical Deferred Maintenance
Golf Course Irrigation System $5.4 million
Golf Course Banks, Bulkheads, etc $.5 million
Kitchen reconfiguration and modernization $2.9 million
Unsafe and poor quality conditions for Staff
Necessary Capital Improvements to meet member demand
Gathering Rooms
Group Fitness Facilities
Existing Fitness Facility

What does this Plan include?

Golf Course Irrigation System
Golf Course Banks, Bulkheads, etc
Kitchen reconfiguration and modernization
Renovate existing fitness facility
Varsity Club First Floor Redecoration
A new two-story, approximately 8,000 square-foot building to house the group fitness, gathering rooms, and offices.

And what are the actual construction estimates for this Plan?

What’s left out for now?

This plan postpones the Desired Capital Improvements delineated above - the new cart barn, the pro shop move and the new member bar.
Not moving the member bar at this time will allow us to evaluate how the new outdoor dining space functions.
These options would add about $2.7 million to the cost.

And what will this cost me?

What would this plan cost the average homeowner in University Park?
Based on current interest rates, we anticipate that a 30 year bond would cost the average homeowner about $1000 annually, or about
$85 monthly.
While this is not an insignificant number, the entire package would only be about $240 annually, or $20 monthly more than just doing the Critical Deferred Maintenance items alone.

Next Steps

Project Management Team
Continue Neighborhood Meetings
Renderings and Explanations of all spaces
Publication of Plan
Community Viewings & Q&A opportunities
Survey
Referendum
Financing
RFP