City Council - October 22, 2008

FERNDALE CITY COUNCIL

SPECIAL MEETING

Wednesday, October 22, 2008

A Special Meeting of the Ferndale City Council was held Wednesday, October 22, 2008, at City Hall, 300 E. Nine Mile Road, Ferndale. Mayor Covey called the meeting to order at 6:10 p.m.

1. PLEDGE OF ALLEGIANCE

2. ROLL CALL

Present: Mayor Covey, Council Members Baker, Galloway (arrived at 6:20 p.m.), Gumbleton, Lennon.

Absent: None.

3. CALL TO AUDIENCE

There were no members of the audience wishing to speak.

4. DISCUSSION OF CITY FACILITIES

City Manager Bruner, Assistant City Manager/Finance Director Hubanks and City Auditor Darling presented a financial summary of one-time and annual funding sources for building acquisition/renovation based on the City’s current finances and future projections.

One-time Funding Sources: $2,826,195 - $4,494,114

Present Value of Annual Sources: $1,245,357 - $5,498,358

Total One-time and Annual Sources: $4,071,552 - $9,992,472

Dave Asker and Paul Wills of Plante Moran CRESA presented revised alternatives for building acquisition/renovation:

	Credit Union ONE	City Hall Site

Court	$2,282,000 – Renovation of vacated City Hall space	$3,558,000 – Construction of 11,904 s.f.

Police	$1,942,000 – Renovation of 10,619 s.f. and construction of 600 s.f. sallyport	$1,942,000 – Renovation of 10,619 s.f. and construction of 600 s.f. sallyport

City Hall	$3,819,000 – Purchase of 2^nd floor, interior build out and new entrance	$2,282,000 – Renovation of 13,662 s.f.

Total Costs	$8,043,000	$7,782,000

Total Square Footage	39,381 s.f.	36,785 s.f.

Schedule	20 to 26 months	24 to 30 months

Robert Wolfson, developer of Lofts on 9, presented a plan for a joint partnership with the City for a mixed use development on the City’s east parking lot, which includes a parking structure and space for a court building. Mr. Wolfson broadly outlined financing options.

Councilman Lennon excused himself from the meeting at 7:35 p.m.

The general consensus among Council was to cease pursuing the Credit Union ONE option because the acquisition cost is too high. Members of Council expressed interest in getting a more detailed plan, including a financial pro-forma from Mr. Wolfson and to further pursue Plante Moran CRESA’s City Hall Site option.

5. ADJOURNMENT

There being no objections, Mayor Covey adjourned the meeting at 8:08 p.m.

Craig Covey, Mayor

J. Cherilynn Tallman, City Clerk

The City of Ferndale, Michigan
300 East Nine Mile Road
Ferndale, Michigan 48220
(248) 546-2525
City Hall Hours:
Monday - Thursday 8:00am - 5:30pm
Closed Fridays

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