Presentation by Marcella Navarrete at stormwater budget meeting of PSB on 11/10/14

1. 11/11/2014
1
Open Space Projects Status FY 2014-15
OSAB Stormwater Priority List
Status
1
Avispa Canyon
Received conservationeasement 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
Negotiationscomplete, pending parks movement of parks bond funds for trailhead
6
Upper Coronado Canyon
Closingscheduled for 11/14
7
ASARCOProperty
Completed 8/14
8
Silver Springs
To Boardfor 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

2. 11/11/2014
2
Pending Open Space AcquisitionsAppraisalOfferAcceptedTotal CostStatus
Lower Coronado $241,000 $241,000 yes$245,000 Contract signed
Canyonworking with City on development
Upper Coronado $315,000 $315,000yes$318,000 Contract signed
Canyon
Silver Springs $750,000 $760,000yes$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$2,900,000Due 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