Meeting 3 Information

This information was presented at the Nov. 20, 2024 Heart of Golden Community Meeting. You may download the meeting display boards with the link below, or an accessible version of the meeting boards follows.

11-20-24 Community Meeting Display Boards

FINANCIAL OVERVIEW

Reasonable Financial Terms

Golden’s Police and Municipal Building project can be constructed without a tax increase based on Golden’s strong financial position and outlook.

Two Options

Project Cost: $60,000,000

Option 1

Financed Amount: $60,000,000
Annual Payments: $4,400,000
Equivalent Percent of General Fund: 9.7%

Option 2 (Current Preferred Option)

Financed Amount: $52,500,000
Annual Payments: $3,800,000
Equivalent Percent of General Fund: 8.4%

City Building Costs Compared to Housing Costs

Experts will tell you not to commit more than 30% of your household income to housing costs (home loan plus taxes and insurance) or rent. The City of Golden 2023 Housing Needs Assessment shows that 21% of homeowners and 47% of renters in Golden actually pay more than 30% of their annual income for housing.

Based on the proposed 2025 City Budget, the City would be committing between 8.7 and 9.7% of our General Fund operating budget for annual payments.

City’s Financial Position

The City is in a very strong financial position to take on broader Heart of Golden projects.

The City’s target for reserves is 10-20% of revenues.
- At the end of 2024, the City’s total reserves for all funds will be approximately $74M, which is 58% of our total planned expenses.
- Our 2024 projected General Fund reserve is 45% or $20.5M.
The City also has direct Heart of Golden assets that can contribute to the overall project financial feasibility:
- The City Hall Annex at 1000 10th St. is expected to be sold for re-use for $2.5 million to $2.75 million once we vacate the building.
- In addition to the new building site, the City also owns approximately 3.7 acres of surface parking lots on the north side of 10th Street. Appraisals indicated a market value between $6.5 million and $7.5 million. These properties may be retained and developed as public/private partnerships, which may include housing, parking facilities, or mixed-use projects. Some property could be disposed to provide funding for future Heart of Golden projects.
- Council and staff have been clear that City Hall is to be razed and repurposed as green space/community amenity space.

SUSTAINABLE STRATEGIES

Building Performance Plan

Community Drivers

Necessary
Cost Effective
Community Values
Citizen Benefits

City Council Goals

Energy: Achieve 100% renewable energy by 2050 and align greenhouse emissions with Paris Accord.
Waste: Reduce landfill contribution by 40% by 2030 and zero waste in municipal operations by 2030.
Water: Reduce total water use by 15% by 2030 and develop plans for resiliency and resource recovery.

Sustainable Design Big Moves

Climate Responsive Architecture

Orientation / Massing
Solar control
Daylight Natural ventilation
Enhanced envelope

Integrated Building Systems

Geo-exchange HVAC
Envelope load reduction
Heat recovery DOAS
Thermal storage
Low-energy lighting
Plug load reduction

Building Decarbonization

Electrification
On-site renewable energy
Energy storage / resilience
Low embodied carbon

Water Innovation

Water conservation
Low water demand irrigation
No cooling tower
Stormwater management
Rainwater harvesting

Energy Use Intensity

Energy Use Intensity Project Target

The total Energy Use Intensity Target is 23.7 kBtu/ft2/yr (Annual Energy Use--416,764 kWh)

Plug Load: 9.5 kBtu/ft2/yr
Lighting: 4.7 kBtu/ft2/yr
Heating: 4.1 kBtu/ft2/yr
Pumps & Fans: 2.4 kBtu/ft2/yr
Cooling: 1.8 kBtu/ft2/yr
DHW: 1.2 kBtu/ft2/yr

Energy Use Intensity Comparison

Existing City Hall: 140 kBtu/ft2/yr
Median Office: ~ 68 kBtu/ft2/yr
Energy Star Office: ~40 kBtu/ft2/yr
Project Target: 23.7 kBtu/ft2/yr

Cost & Value

First Cost

Invest in the envelope to reduce the HVAC size
Look for value/performance-added tradeoffs
Reduce waste and improve effectiveness

Total Cost of Ownership

Reduce energy and operational costs
Invest in outcomes for the staff and community
Design for resilience and flexibility

Climate & Site

PROGRAM REFINEMENT

*Design for the Community

*Design for the Environment

*Design for Safety, Security, and Efficiency

*Design for Innovation

Working Spaces

"We Work" Privately

Optimized Spaces for Focused Productivity and Dynamic Environments.

Assigned:

Defined personalized, permanent desk spaces for individual employees. These spaces offer consistency, personal storage, and proximity to key resources.

Connected:

Focuses on collaboration and interaction, with shared workstations near amenities or communal areas. encourages team engagement and fluid communication.

Sunlight:

Workspaces designed to integrate natural elements, often near windows or outdoor spaces. Promotes wellness and focus through biophilic design, using natural light and greenery.

"We Work At" Workstations

Elevated privacy and precision. Designed for focused productivity and innovation.

Temporary:

Designed for short-term use, hoteling provides flexible, on-demand desks for hybrid or remote workers. These spaces maximize efficiency, offering the tools needed for productivity without permanent assignment--ideal for task-based, mobile work.

Integrated:

Blending open collaboration zones with focus spaces, integrated workstations support seamless transitions between team and solo tasks. These ergonomic, tech-enabled spaces foster both collaboration and individual productivity, ensuring flexibility.

Assigned:

Fixed desks for employees needing a consistent space. These workstations ensure ergonomic comfort, dedicated storage, and easy access to tools and technology, supporting deep work while staying near collaborative areas.

Meeting Spaces

"We Connect In" Typical Meeting Rooms

Efficient, collaborative spaces for transparent decision-making and community engagement.

Small:

Compact, high-tech spaces designed for efficient brainstorming and decision-making. Equipped with flexible furniture and advanced technology, these rooms are ideal for intimate team discussions and quick strategy sessions.

Medium:

Versatile rooms for dynamic team interactions and productive meetings. Featuring adaptable furniture, cutting-edge technology, and natural light, these spaces are perfect for collaborative work and creative brainstorming.

"We Connect In" Think Tanks

Versatile, high-focus spaces driving collaboration and strategic excellence.

Mission:

Tailored for focused work, these spaces feature flexible seating and writable surfaces, supported by advanced technology. Ideal for both small and large tasks, they promote efficient decision-making and productivity.

All Day:

Designed for long meetings and multi-day events, these versatile rooms accommodate large groups and cross-functional teams with flexible layouts and comprehensive technology for sustained collaboration.

Inspired:

Reflecting brand identity, these comfortable spaces inspire connection and problem-solving. Stylish and functional, they provide a welcoming environment for engaging discussions and team-building.

Creative:

Dynamic and unconventional, these spaces encourage creative thinking with interactive tools and flexible layouts. They are designed to break traditional meeting norms and foster big ideas.