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Council hears $25 million estimate and financing options for proposed police station
Summary
City staff presented a preliminary plan for a proposed 42,300 sq ft Hurricane City Police Station, estimating a total project near $25 million and outlining options including a $5 million Community Impact Board grant and either a low‑rate CIB loan or an open‑market bond fallback.
City staff presented a preliminary financing and scope plan for a proposed Hurricane City Police Station and asked the council to accept public input as part of Community Impact Board (CIB) financing requirements.
The presenter (S15) said the building is being planned at about 42,300 square feet with a construction cost estimate of roughly $450 per square foot, producing an initial construction subtotal near $19 million. Added costs — $1.5 million for architectural and engineering services, $1.1 million for site and utility work and roughly $105,000 for legal and financial costs — produced a subtotal of about $21.8 million. Staff said they were including a $3.1 million project contingency for a planning total near $25 million.
Staff outlined financing options: an application to the Community Impact Board that requests $5 million in grant funding and, if CIB provides financing, a favorable long‑term loan (the presenter used a sample 30‑year, ~2.5% rate for illustration). The fallback would be an open‑market bond, which staff estimated could carry a higher rate (staff used a conservative estimate above 4% in their comparison), increasing the annual repayment burden. The presenter said the city expects roughly $2.8 million net proceeds from selling the old police station property and estimated repayment sources such as public‑safety impact fees (~$175,000 annually) plus modest general‑fund contributions.
Staff emphasized they were not proposing any user‑fee increases, special assessments, or property‑tax increases tied specifically to the building. The presenter also noted other municipal bonds on the city’s books will retire over the next three to five years, and those payments could be repurposed toward station debt service.
Council members asked clarifying questions but recorded no final decision; staff said the public‑hearing record and the CIB application require tonight’s notice. The project remains at the financing/preliminary‑planning stage pending further cost refinement and decisions about grant vs. bond financing.
Direct quotations from the presentation were limited to general figures and financing options; staff invited council questions and public comment during the hearing.
