Larry OKC
09-04-2012, 10:21 PM
Interesting article in Tuesday's Oklahoman...
http://newsok.com/by-the-numbers-oklahoma-citys-capital-improvement-plan/article/3706704#ixzz25YnxLTfE
1. $186.2 million: Southeast Oklahoma raw water supply project
Presume this is the Sardis Water deal. Not only did OKC pay the outstanding debt owed by the State to the Feds, we overpaid for the water rights by several million (think it was an extra $15 million). This was at a time when the City was short on money, cutting City employee positions , including Fire & Police, even though there were promises to not only NOT make any cuts but add to Public Safety by using MAPS 3 Use Tax money if it passed. Also, this number seems really low, it was reported that the cost of the new pipeline that is going to be required to get the water we overpaid for, in the Billion(s) range (sorry, don't have the article handy).
2. $142.5 million: MAPS 3 convention center
http://newsok.com/maps-3-timeline-at-a-glance/article/3583051
This number seems REALLY low, the above article link from a year ago when they adopted the MAPS 3 time-line said $280 million, with approx another $50 million for the C.C. hotel (unfunded), for a grand total of $320 million. Then there is the unfunded "Phase 2" to complete the Convention Center...
3. $131.9 million: Remaining MAPS for Kids school buildings
This number seems really high. Unless there are multiple renovation projects still left in MAPS 4 Kids, the only new construction projects left were the Downtown Elementary school and the Administration building??
Recent articles had the DT school = $14 million and the Administration building = $7 million
Then again, the Mayor stated in one of his State of the City address' that MAPS 4 Kids was in the final stages and was on track for completion n 2012. Heck, even the City's website states that it "will be completed when the program draws to a close in 2012." (http://okc.gov/ocmaps/index.html) Current time lines don't have the DT school opening until 2014. Not to mention how long it is going to take to complete the Administration building.
4. $97.4 million: MAPS 3 modern streetcar and transportation system
Unclear if this includes the Inter-modal Transit Hub or not, but pre-MAPS 3 vote had the Streetcar/Hub project as $120 million (with $10 million for the hub). The year-old time-line article said the 2 combined was $130 million???
7. $58.3 million: MAPS 3 State Fair Park improvements
Close enough I guess. Same article from a year ago when they adopted the MAPS 3 time-line said $60 million
9. $25 million: New downtown parking garages
IIRC, they were going to take the revenues from selling the existing ones to pay off the debt on them and start over again? Or maybe instead of paying off the bond, just use the cash for building the new ones???
Some of the others I didn't mention I thought might be covered under previous bond issues etc, but couldn't find info immediately.
http://newsok.com/by-the-numbers-oklahoma-citys-capital-improvement-plan/article/3706704#ixzz25YnxLTfE
1. $186.2 million: Southeast Oklahoma raw water supply project
Presume this is the Sardis Water deal. Not only did OKC pay the outstanding debt owed by the State to the Feds, we overpaid for the water rights by several million (think it was an extra $15 million). This was at a time when the City was short on money, cutting City employee positions , including Fire & Police, even though there were promises to not only NOT make any cuts but add to Public Safety by using MAPS 3 Use Tax money if it passed. Also, this number seems really low, it was reported that the cost of the new pipeline that is going to be required to get the water we overpaid for, in the Billion(s) range (sorry, don't have the article handy).
2. $142.5 million: MAPS 3 convention center
http://newsok.com/maps-3-timeline-at-a-glance/article/3583051
This number seems REALLY low, the above article link from a year ago when they adopted the MAPS 3 time-line said $280 million, with approx another $50 million for the C.C. hotel (unfunded), for a grand total of $320 million. Then there is the unfunded "Phase 2" to complete the Convention Center...
3. $131.9 million: Remaining MAPS for Kids school buildings
This number seems really high. Unless there are multiple renovation projects still left in MAPS 4 Kids, the only new construction projects left were the Downtown Elementary school and the Administration building??
Recent articles had the DT school = $14 million and the Administration building = $7 million
Then again, the Mayor stated in one of his State of the City address' that MAPS 4 Kids was in the final stages and was on track for completion n 2012. Heck, even the City's website states that it "will be completed when the program draws to a close in 2012." (http://okc.gov/ocmaps/index.html) Current time lines don't have the DT school opening until 2014. Not to mention how long it is going to take to complete the Administration building.
4. $97.4 million: MAPS 3 modern streetcar and transportation system
Unclear if this includes the Inter-modal Transit Hub or not, but pre-MAPS 3 vote had the Streetcar/Hub project as $120 million (with $10 million for the hub). The year-old time-line article said the 2 combined was $130 million???
7. $58.3 million: MAPS 3 State Fair Park improvements
Close enough I guess. Same article from a year ago when they adopted the MAPS 3 time-line said $60 million
9. $25 million: New downtown parking garages
IIRC, they were going to take the revenues from selling the existing ones to pay off the debt on them and start over again? Or maybe instead of paying off the bond, just use the cash for building the new ones???
Some of the others I didn't mention I thought might be covered under previous bond issues etc, but couldn't find info immediately.