mission plan, build and successfully operate a municipal liquor store that reflects the character...
TRANSCRIPT
MissionPlan, build and successfully operate a municipal liquor store that reflects the
character and progressiveness of Marshall & the Southwest Minnesota Region, while
benefitting its fiscal and cultural well being.
Construction Document Phase Presentation
November 25, 2014
Strategy & Philosophy
Marshall Municipal Liquor Store…plans to grow the business not merely maintain it…have solid intelligence and hard data as to where the growth opportunities lie…
want to create and market to "competitive advantage" derived from surpassing customer expectations…
and are customer (not sales) driven - we seek and respond to the customers'
voice.
Site Plan
62 Parking Stalls (2 handicapped stalls)
Building 11,576 Square Feet
Exterior
Interior
Project Development Schedule
Project Budget IllustrationDescription Design
DevelopmentCost ($)
Construction Documents
Cost ($)
Construction 2,627,335 2,536,594
Architectural 225,800 225,800
Cooler 185,000 185,000
FFE 81,762 81,762
Technology (security, POS, personal computers, etc.)
79,365 90,335
Landscaping 20,000 20,000
Sub-Total $3,219,262 $3,139,491
Project Financing(update underway)
• 2015 G.O. Lease Revenue Bonds (bank qualified).• $3,575,000 Par Value Bonds
• $100,000 Liquor Fund Cash
• Estimated based on $3.3M funds available for project.
• 20 year term
• Average annual debt service = $313,750
• Dedicate annual profits during the bond repayment to general fund transfers.• Estimated annual GF transfers = $288,746 (currently $375,000).
Next Steps
• This evening: Recommend approval of construction documents and authorize bids.
• December 18 bids due.
• December 23 Council award of bids.
• Construction commencement Spring 2015.