This document provides a status report on municipal drainage utility funding for open space projects in Fiscal Year 2014-2015. It lists 10 open space priority projects, including their status, as well as actual open space acquisitions completed with $5.4 million in expenses. Another $5.4 million in acquisitions are pending, including properties like Lower Coronado Canyon, Upper Coronado Canyon, Silver Springs, and Hunt Arroyos. With a projected $6.3 million balance in February 2015 and $5.4 million in pending acquisitions, $853,000 is expected to remain available for additional open space projects.

1. MUNICIPAL DRAINAGE UTILITY FUNDING REPORT 2014

2. 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

3. 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

4. Pending Open Space Acquisitions
Appraisal 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
l Available Balance After Acquisitions $853,000

6. LOWER CORONADO CANYON
14.2 ACRES

7. AF MILLER 211
TRACTS 9A1 & 9D-1-A
3.1678 ACRES
AF MILLER 212
TRACT 2M12
13.4256 ACRES
CORONADO HIGH SCHOOL
CLOUDVIEW PARK
CLOUDVIEW DR
UPPER CORONADO CANYON

8. SILVER SPRINGS

9. HUNT ARROYOS

10. NORTHERLY HUNT ARROYO

11. SOUTHERLY HUNT ARROYO