Title
a. Receive a draft business plan and proforma that supports two projects under consideration for funding from A&D Consulting, LLC for Laguna Seca Recreational Area (LSRA);
b. Approve funding the 1) Start/Finish Bridge; and 2) Track resurfacing in the FY 2021-22, 5-year Capital Improvement Program (CIP) and Public Works, Facilities, and Parks (PWFP)-Facilities Work Program, for FY 2021-22; and
c. Provide direction to staff.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive a draft business plan and proforma that supports two projects under consideration for funding from A&D Consulting, LLC for Laguna Seca Recreational Area (LSRA);
b. Approve funding the 1) Start/Finish Bridge; and 2) Track resurfacing in the FY 2021-22, 5-year Capital Improvement Program (CIP) and Public Works, Facilities, and Parks (PWFP)-Facilities Work Program, for FY 2021-22; and
c. Provide direction to staff.
SUMMARY/DISCUSSION:
At the October 19, 2021, Board of Supervisors meeting, the Board considered the request to approve adding the 1) Start/Finish Bridge; 2) Track resurfacing; and 3) Turn 3 Structure as near-term capital needs to the FY 2021-22, 5-year CIP and PWFP-Facilities Work Program for FY 2021-22. The Board of Supervisors approved $750,000 in funding for the design work for the Start/Finish Bridge and the Track resurfacing, as well as the upgrades to the Turn 3 Structure. However, the Board directed staff to come back with a business plan, in order to consider funding options for the construction phase of the Start/Finish Bridge and the Track resurfacing.
The draft business plan includes an Executive Summary. Following this summary is the Overview of Projects, with project descriptions for the Start/Finish Bridge and Track resurfacing. It will then provide the Business Model that supports the five-year proforma. After discussing its basis, the financials are then presented with a five-year proforma, and a discussion of the revenues, exp...
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