open space projects status
TRANSCRIPT
11/11/2014
1
Open Space Projects Status FY 2014-15
OSAB Stormwater
Priority List
Status
1 Avispa Canyon Received conservation easement for a portion of the arroyo.
2 Lower Coronado Canyon Contract signed. Closing pending.
3 Playa Drain Negotiations complete. Completing due diligence
4 Cement Lake Discussions with TXDOT willing to sell after TXDOT project
completed
5 Hunt Arroyos Negotiations complete, pending parks movement of parks
bond funds for trailhead
6 Upper Coronado Canyon Closing scheduled for 11/14
7 ASARCO Property Completed 8/14
8 Silver Springs To Board for approval on 11/12/14
9 Wildwood Completed
10 Palisades Completed
Actual Open Space Acquisitions
Palisades Purchase Price $ 2,776,589
Johnson Basin 398,327
Wildwood 2 Purchase Price 49,060
Spring Crest 23.49 Acres (Asarco) 149,816
Lower Coronado 14.6 Acres Earnest Money 5,000
Various Appraisals and Misc. Expenses 25,770
Payments to the City of El Paso for Park Pond Projects 2,004,027
Total Open Space Expenses $ 5,408,588
Open Space Funds Balance at end of 9/30/2014 6,292,944
Less: Balance Owed on Park/Ponds (586,973)
Available Balance for Open Space Projects $ 5,705,971
OPEN SPACE FINANCIAL REPORT AS OF SEPTEMBER 30, 2014
11/11/2014
2
Pending Open Space AcquisitionsAppraisal Offer Accepted Total Cost Status
Lower Coronado $241,000 $241,000 yes $245,000 Contract signed
Canyon working with City on
development
Upper Coronado $315,000 $315,000 yes $318,000 Contract signed
Canyon
Silver Springs $750,000 $760,000 yes $765,000 PSB agenda on 11/12/14
Hunt Arroyos $23,000/acre $15,000/acre yes $1,200,000 Coordination with Parks
Playa Drain $2,750,000 yes $2,900,000 Due diligence
Total Negotiated Acquisitions $5,428,000
Total Projected Balance on 2/28/2015 $6,281,000
Available Balance After Acquisitions $853,000
Mayor’s Open Space Funding
Proposal
• Divert FY 2015-16 and 2016-17 Open Space funding
and transfer to fund new construction projects
• Over the next two years, approximately $3.2 million of
open space money would be collected
• Instead, upon approval of the initiative, during that
interval, $3.0 million of that money will be used for
new project design and construction
• There will still be $853,000 in the open space account
for opportunities that may arise
• Starting in FY 17/18 the 10% open space set-aside
will resume normally