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HomeMy WebLinkAbout2020-12-14 City Council Agendas (21) City of Palo Alto (ID # 11832) City Council Staff Report Report Type: Action Items Meeting Date: 12/14/2020 City of Palo Alto Page 1 Summary Title: Finance Committee Recommendation Regarding the Roth Building Title: Finance Committee Recommends the City Council Direct Staff to Complete the Following in Regards to the ROTH Building, 300 Homer Ave: 1) Identify Funding for a "Cold Shell"; 2) Return to Council With Additional Funding and a Lease or Lease Option; and 3) Work With the Palo Alto Museum Regarding Lease Terms From: City Manager Lead Department: Administrative Services Recommendation The Finance Committee recommends the City Council direct staff to: 1) Identify funding for a “cold shell” construction project ($6.5 million) including use of “Available Financial Sources” as identified in Table 1 in staff report #11611, with additional funding needs to be identified by the City ranging between $500,000 - $1.0 million; 2) Return to the City Council with both additional funding and a lease or lease option agreement with the Palo Alto Museum (PAM) for a finite period; some funding, such as PAM donor funds, necessitate using PAM approved plans, and to identify other potential funding options; and 3) Work with museum staff to suggest a length of time for the museum to have enforceable lease terms, subject to conditions. Discussion On November 17, 2020 the Finance Committee discussed options for the rehabilitation and future use of the Roth Building including funding options, construction phasing and financial support requested by the Palo Alto Museum (PAM) (CMR 11611 and Attachment A). Action minutes from the meeting are attached (Attachment B) and are available at this link. The video of the item can be found at this link and the presentations at this link. The Finance Committee approved the above recommendation on a 3-0 vote. City of Palo Alto Page 2 During the meeting PAM presented their request of the Council to fund the full construction of the Roth Building (requiring additional funding of approximately $3.71 million), issue a 40-year lease and commit to a partnership to rehabilitate the Roth Building. Committee discussion focused on the potential available funding sources outlined in the staff report including impact fees, Stanford University Medical Center funds, and the General Fund (operating and/-or capital funding). During the meeting the committee deliberated extensively about the partnership with PAM, the long-term plans, fundraising goals, and comparisons to other projects and partnerships. The Committee arrived at the above recommendation for the City Council's review and deliberation and ultimately for City Council direction to staff on next steps. These next steps would supersede those provided by the City Council in March 2020, as outlined in the Finance Committee staff report. Specifically, this potential direction to staff was requested as an action item for discussion by the full City Council given the financial and funding needs even though it was a unanimous vote and would typically be a consent item under standard practices. Stakeholder Engagement Staff continues to meet with representatives of PAM including their construction contractor to discuss the current status of the project, shared space options, phasing of the construction project, and any additional potential next steps. In addition, staff continues to discuss funding feasibility, legal restrictions, zoning options, as well as construction details with necessary partner departments including but not limited to Public Works, Community Services, the City Attorney’s Office, and Planning & Development Services departments. Resource Impact Additional financial contribution ranging between $0.2 million to an estimated $4.2 million are necessary to close the gap in funding for either a “cold shell” or the completion of the Phase 1 construction rehabilitation project. Depending on the funding options selected, impacts to the current priorities outlined in the City Council approved FY 2021-2025 Capital Improvement Plan will require City Council action to rebalance. Staff identified potential funding impacts in the attached report as well as funding sources for the Council’s reference and to assist in informing Council’s deliberations. Environmental Review The proposed action is to provide direction on next steps for staff efforts with respect to the future use of the Roth Building and does not constitute a project under the California Environmental Quality Act (CEQA). Attachments: • Attachment A: Finance Committee Rehabilitation and Future Use of the Roth Building Options Staff Report #11611 • Attachment B: Finance Committee Action Minutes 11-17-2020 City of Palo Alto (ID # 11611) Finance Committee Staff Report Report Type: Action Items Meeting Date: 11/17/2020 City of Palo Alto Page 1 Summary Title: Rehabilitation and Future Use of the Roth Building Options for City Council Review Title: Discussion With the Palo Alto History Museum and Recommended Direction to the City Council Regarding Options for the Rehabilitation and Future use of the Roth Building, Including: Funding, Construction Phasing, and Financial Support Requested by the Museum From: City Manager Lead Department: Administrative Services Recommendation Staff recommends that the Finance Committee: •review and discuss the current goal of the partnership between the City and Palo Alto History Museum (PAHM, also known as Palo Alto Museum or “PAM”) in the rehabilitation of the Roth Building; •discuss the return on investment in cultural and community benefits, including the current status of project financing and the current request for City support in this partnership; and •discuss the financial scenarios and specific funding options to provide direction on next steps. ATTACHMENT A City of Palo Alto Page 2 Executive Summary In response to the City Council request as part of the FY 2021 Budget process and the March 2020 City Council referral to the Finance Committee, this staff report provides options for potentially funding the gap for rehabilitation of the Roth Building as the new home for the Palo Alto Museum. Staff is seeking Finance Committee consideration of potential project elements, including potential funding options and finance limitations. PAM will provide a presentation of the status of the project, rehabilitation options – rehabilitation is called Phase 1 and can be done in two parts, “Cold Shell” and “Phase 1 Completion (full rehabilitation)”, shared space options, and funding options they wish to explore. The PAM request is attached to this report and outlines the requested City partnership and financial support to accomplish this rehabilitation and therefore facilitate opening of a museum (Attachment A). Based on this request, and the direction from the City Council, staff has reviewed potential options of funding Phase 1 of the Roth Building project including the funding gap and impacts of use of those funding sources. The allocation of additional City financial support will require a prioritization of resources as the City continues to face a significant recession, impacting key revenues that support City operations and capital investments. Staff is seeking Finance Committee consideration of potential project elements, including potential funding options and finance limitations. Staff recommends that the Finance Committee recommend City Council direction to pursue one of the following options or a variation of: Option A: Recommend the City Council direct staff to identify funding for a “cold shell” construction project ($6.5 million) including use of “Available Financial Sources” as identified in Table 1, with additional funding needs to be identified by the City ranging between $500,000 - $1.0 million and return to the City Council with both additional funding and a lease or lease option agreement with the Palo Alto Museum for a finite period. Some funding, such as PAM donor funds, necessitate using PAM approved plans. Option B: Recommend the City Council direct staff to identify funding for a full rehabilitation of the Roth building (Phase 1 of the Roth Building project as outlined by PAM, $10.5 million) including use of “Available Financial Sources” and “Pledges” as identified in Table 1, with additional funding needs to be identified by the City ranging between $4.0 - $4.3 million and return to the City Council with both additional funding and a long-term (40 year) lease agreement with the museum. Option C: Recommend the City Council direct staff to continue with the prior direction provided by the City Council on March 2, 2020 and return to the City Council with options for the issuance of a Request for Proposal (RFP) including potential rezoning of the site and long term-ground lease structure. Option D: Recommend the City Council direct staff to explore variations of the above options, or similar direction provided in the past by the City Council such as recommend the City Council provide the PAM a fundraising target and timeline to raise additional funds (net of expenses incurred) for the project and direct staff to return to the City City of Palo Alto Page 3 Council with a long-term (40 year) lease agreement with the museum that includes a termination clause should there be project delays or lack of funding within a designated period of time. As noted above, staff is seeking Finance Committee recommendation for City Council consideration. These options are not intended to be mutually exclusive or all-encompassing, they are examples for the Committee’s consideration. Background In April 2000, the City Council approved the $1,957,000 purchase of the Roth Building and its 0.41 acre site for potential development as a “public facility or alternative use if a public facility is not feasible,” in conjunction with the South of Forest Avenue Coordinated Area Plan (SOFA CAP). On May 20, 2002, Council approved a Request for Proposals (RFP) and directed staff to solicit proposals for the lease of the Roth Building. The RFP specified that preference be given to non-profit groups located in or serving Palo Alto, that the property be improved and operated at no cost to the City, and that public access to the Roth Building restrooms by users of the neighboring park be provided. In response to the RFP, one proposal was received in November 2003. The Palo Alto Museum now referred to as the Palo Alto Museum (PAM or the Museum) proposed to restore, preserve, and improve the historic Roth Building for use as a museum. PAM’s proposal was accepted by the Council in April 2004, at which time staff sent the Museum a draft Option and Lease Agreement for its review. In February 2006, staff received the Museum’s proposed changes to the draft Agreement including a request that the City contribute up to $300,000 to repair leaking and drainage problems at the Roth Building. On July 10, 2006, Council created a Capital Improvement Program (CIP) for Roth Building maintenance in the amount of $415,000 to provide funding for interim measures to prevent further deterioration of the building until the Museum would take over the site. On May 14, 2007, Council authorized the Mayor to execute the Option Agreement and approved a City contribution of $150,000 for repair of the leaking and drainage problems. The Option Agreement was executed on June 22, 2007 with a twenty- four-month term. Since 2007, PAM personnel and City staff have examined a variety of proposals to fund the capital and operating needs of the Roth Building museum and the City Council has extended the option agreement several times. Additional background information can be found by referring to prior staff reports on this topic (CMRs: 2197, 2891, 4703, 5365, 5551, 5879 and 8612). Although the 2007 option agreement was extended several times over the past 13 years, it lapsed in late 2018 and is no longer in effect. In December 2018 (CMR #9767) the City Council reviewed the status of the Roth Building project and directed staff, over the next six months, to validate the PAM’s recent fundraising milestone of $1.75 million - a target set by Council for a certain period of time, between 2017 and 2018. The PAM at this time articulated fundraising of $1.86 million towards the City’s $1.75 City of Palo Alto Page 4 million challenge. At that time, the Council also directed staff to update the option and lease agreement, which had not been updated since 2007, for later consideration by Council. In working to complete the validation of the fundraising milestone of $1.75 million that was discussed on December 2018, staff engaged a consultant to review the pledges, cash, and fundraising activities of PAM to confirm the fundraising goal was met prior to beginning drafting new agreements. On March 2, 2020 (CMR 10276) the City Council reviewed the consultant report and the progress of PAM’s fundraising to meet the $1.75 million target and articulated gross fundraising efforts as well as those funds raised net of expenses incurred. At this meeting, the Council approved the following motion which is currently guiding staff work: A. Move forward with options for an RFP, including potential rezoning of the site; B. Additionally, include a possible shared space arrangement; C. Return to City Council by Monday, May 4, 2020 with a status report; and D. Refer to the Finance Committee discussion of the possibility that the City fund the build-out [this was intended to be specifically related to the current PAM partnership and build-out] On June 15 staff provided an update on the Roth Building (CMR 11287) as requested in part C of the March 2 meeting motion. This item provides information and a forum for a discussion on part D for potential direction to the City Council. As staff and PAM have been partnering through this period to explore options and the path forward on this project, work on part A was paused as well as drafting work on documents to extend the option and lease agreement. It is expected that this discussion with the Finance Committee will be brought to the full City Council for action as appropriate. Discussion Staff is seeking Finance Committee consideration of potential project elements, including potential funding options and finance limitations and recommend next steps for City Council consideration. There are two primary elements for the Finance Committee to consider in order to facilitate the partnership between the City and the PAM: 1. Roth Facility and Funding of the Rehabilitation of the Building 2. Lease Agreement Between the City and the PAM The various sections below articulate the PAM request for City support and partnership and provide details associated with the elements above. These details provided below are intended to assist the committee in informing their recommendation to the City Council. Staff have provided options for the Committee’s consideration that are not intended to be mutually exclusive or all-encompassing but examples for consideration. City of Palo Alto Page 5 The PAM request is attached to this report and outlines the requested City partnership and financial support to continue this rehabilitation and opening of a museum (Attachment A). Staff recommends that the Finance Committee recommend City Council direction to pursue one of the options outlined in the Executive Summary. Based on the PAM request, and the direction from the City Council, staff has focused this report on the review of potential options of funding Phase 1 of the Roth Building project including the funding gap and impacts of use of those funding sources. The allocation of additional City financial support will require a prioritization of resources as the City continues to face a significant recession, impacting key revenues that support City operations and capital investments. PAM has partnered with Vance Brown for construction contract services for the Phase One Rehabilitation project. Currently the Palo Alto Museum has two phases planned: Phase 1 which is the rehabilitation and build out of the facility to make it suitable for occupancy also known as a “warm shell” estimated at $10.5 million; and Phase 2 which is the interior build out of the museum and exhibits readying the facility to welcome visitors estimated at $8 million. Approximately $1.8 million has been spent by PAM on the prep work for design and ultimately permit acquisition and approval for the current rehabilitation plans of the facility. These plans conform to requirements as a historical building and allow for the use of Transfer of Development Rights (TDR) proceeds to fund improvements. Based on work with Vance Brown, it is estimated that the remaining cost for the build out of Phase 1 would be $10.5 million. Over the past several months staff has met with PAM to discuss options for moving forward on the Phase 1 Roth Building museum project. Options discussed have ranged from a minimal rehabilitation and construction of the building, known as the “cold shell” option, to reviewing different funding sources for a full build out of the museum to satisfy Phase 1. Incorporated as an attachment to the staff report (Attachment A) is a letter from the PAM on requested funding and partnership goals necessary to rehabilitate the facility and ultimately open a new museum. Based on this request, staff has pulled together financial information for the Finance Committee’s review and discussion. Based on the Finance Committee’s direction staff would defer returning with an RFP option until the financing options discussion is complete. Palo Alto Museum’s Request of the City & Identified Community Contributions Summary 1. Fund the remaining Phase 1 construction cost, PAM estimates at $3.71 million from possible library, community center, or parks impact fees. 2. Issue a 40-year lease between the City and the PAM, which would allow for donor funds to be released for construction costs in Phase 1. 3. Commit to a partnership for the rehabilitation of the Roth Building and for mutual long- term success. City of Palo Alto Page 6 This request above is very similar financially to Option B noted above in the Executive Summary. As outlined by the PAM in the attachment the establishment of the museum at Roth is expected to bring a number of contributions to the community. Those include: • A park restroom for park visitors (as required by the initial RFP) • Permanent home for the City-owned historic archives • Community meeting spaces • Palo Alto and Stanford exhibits • Supplements to required studies for second through fourth grade students • Lab of evolving technologies for all students • A park-side café • Venue for speakers and authors Together with these contributions PAM makes the point that the project is shovel ready and is a fast and cost-effective way to restore the historic Roth Building. Estimated Project Options and Funding Based on estimates from PAM’s contractor, the following reflect project estimated costs for Phase 1. All costs for Phase 2, estimated at $8 million, including the build out of the museum interior including exhibits are expected to be funded by PAM donations in order to ready the facility for opening, though some significant donations have been pledged for this work according to PAM Initial opening of the Museum to the public would be within the first year after rehabilitation is completed. Museum installation will be expanded in stages; refer to the Museum’s 7-year budget plan (Attachment C). It is important to note that this estimate does not have solidified subcontractor awards and would be subject to change upon approval to begin Phase 1. • $6.5 million estimated to complete a “cold shell” option (a partial Phase 1 completion) • $10.5 million estimated to complete Phase 1 rehabilitation (if completed in stages, additional cost of $500,000 plus inflation costs expected) City of Palo Alto Page 7 “Cold Shell” Option: $6.5 million construction cost estimate The “cold shell” option is a recent idea that would result in a renovated Roth Building addressing major structural issues, such as water intrusion, seismic upgrades and the temporary back wall. This option would structurally fortify the facility, however, would stop short of improvements needed for occupancy of the building by the Museum or any other possible tenant. As such the “cold shell” option eliminates certain work items and their cost from the construction plan including but not limited to landscaping; millwork and running trim; doors, frames and hardware; ceramic tile; floor finishes; toilet part/access and lockers; elevators; and telephone and data wiring. The reduced “cold shell” option is estimated to cost $6.5 million vs. the approximate $10.5 million for the full Phase 1 construction. The cold shell improvements would take an estimated ten-to-twelve months to complete. A breakdown of the tasks for the cold shell option is shown in Attachment B as provided by Vance Brown, the PAM construction contractor. A potential downside of the cold shell option is the added cost once the buildout phase of the museum is started. Assuming a delay between the finish of the cold shell option and the start of phase two there could be an added cost of up to approximately $0.5 million plus inflation costs. This is attributed to the lack of overlap between the construction activity and the off boarding and re-onboarding of the construction trades. In other words, there would be no concurrent work performed and the efficiencies of such work. If there was no gap between the two phases this cost would be reduced or eliminated. Current Funding Summary & Additional Funding Approaches The funds identified for the Phase 1 rehabilitation project are outlined in the table below. It includes a review of already pledged funds either by way of grants, City, and PAM financial support. All these funds, except for the PAM cash on hand can be used to complete either a cold shell or the full Phase 1 rehabilitation project. Stipulation on these funds include a project in line with the expectations of TDRs1 and the development of the City archives. The PAM cash on hand and pledges, in the category below, may be used for either of these projects, however, they require completion of a long-term lease agreement with PAM for the operation of the museum. The gap in funding is between $0.2 million and $4.2 million depending on the cold shell ($6.5 million) or the full Phase 1 rehabilitation completion ($10.5 million) and assumption surrounding available pledges. As directed by the Council, and in response to the request by PAM for additional funds, the next category in the table outlines potential additional funding sources for the completion of either a cold shell or the Phase 1 rehabilitation. It also begins to articulate the impacts of providing this additional funding. Following the table is a description of each of the funding sources, the tradeoffs that will require City Council realignment of priorities through defunding of planned 1 Transfer of Development Rights (TDRs) funds must be used for the rehabilitation of a city-owned building in the historic or seismic categories listed in PAMC Section 18.28.060. City of Palo Alto Page 8 projects to assist the Committee and Council in their deliberations. Potential funding options for the Finance Committee and City Council’s consideration include the General Fund, General Capital Improvement Fund, impact fees, Stanford University Medical Center Parties (SUMC) funds, or additional museum funds. Regardless of the funding source, this additional investment would require reprioritization of existing financial resources and commitments. In addition, as noted by the preliminary fiscal update provided on October 19, 2020 (CMR #11596), the City remains in a serious fiscal environment due to the longstanding pandemic and resulting economic slowdown. Notably, the City has seen significant reductions in key General Fund tax revenues such as transient occupancy tax (TOT) and sales tax. Continued fiscal uncertainties remain and due to the significant reduction in estimated TOT receipts, a rebalancing of the General Capital Improvement Plan will be necessary to align with current estimates in early 2021. Council direction on October 19 include waiting to see City of Palo Alto Page 9 TABLE 1: SUMMARY OF PHASE 1 PROJECT FUNDING AV A I L A B L E F I N A N C I A L S U P P O R T Fun d s a r e e i t h e r a l r e a d y s e t a s i d e i n c i t y / PA M fu n d s or a w a r d e d g r a n t s FUNDING SOURCE ESTIMATED FUNDING CONTRIBUTION PROJECTED GAP TO PHASE 1 $10.5M TDR proceeds and a $1.0 million contribution from the General Fund $4.9 M Grants from the County of Santa Clara (roof replacement $0.3 million) $0.3 M Library impact fees designated for the establishment of the City archives $0.3 M PAM cash on hand (MGO reports approximately $0.8 million available with some needs for operating costs) $0.5 M Readily Available Funds $6.0 M ($4.5 M) PL E D G E S fu n d s a r e n o t re c e i v e d v e r b a l / wr i t te n d o n o r su p p o r t PAM pledges; MGO Audit report estimated $0.2 million are more likely to be collectable $0.2 - $0.5 M Additional Funds including pledges $6.2 - $6.5 M ($4.0 – 4.3M) AD D I T I O N A L C I T Y FI N A N C I A L S U P P O R T Re q u i r e s i d e n t i f i c a t i o n o f r e v i s e d pr i o r i t i e s o f i n v e s t m e n t Additional City Impact Fees $0.6 M Additional City Impact Fees requires defunding planned projects (Rinconada Park Improvements per the approved Parks Master Plan and Library Automated Material Handling) $2.5 M SUMC or General Fund/General Capital Improvement Fund Requires defunding existing projects impacting the 2014 Council Infrastructure plan projects $1.2 M - $0.9M $10.5 M $0 Impact Fees Impact fees may be used for the refurbishment of existing buildings however they may not be used for operations or future maintenance of capital improvements. The Mitigation Fee Act allows cities to levy impact fees on developments to mitigate the demand for public facilities reasonably related to the development project in order to “(1) refurbish existing facilities to maintain the existing level of service or (2) achieve an adopted level of service that is consistent with the general plan” (Government Code Section 660001(g)). The Mitigation Fee Act, the Municipal Code, other statutes, and case law place limits on how fees may be levied and used. The use of the funds must also comply with City code, which provides that the library fee may be used for “development and improvements to libraries,” the park fee may be used for “acquisition of land and improvements for neighborhood and district parks,” and the City of Palo Alto Page 10 community center fee may be used for “development and improvements to community centers” (PAMC § 16.58.020(a)-(c)). • Must comply with the allowed uses specified in the Municipal Code (see PAMC § 16.58.020(a)-(c)). • Must be used for capital costs (construction of new building, refurbishment of existing building, build-out of new space). • May not be used for operation and maintenance of an improvement. • May not be used to address existing deficiencies in public facilities (i.e., insufficient parkland to meet existing needs); must be used to address the impacts (i.e., deterioration of the service) due to new and future development (development paying the impact fee). Development impact fees may pay for improvements to existing buildings, to build new buildings, and to pay for new impacts and increased public use resulting from new development. Below are the development impact fees that the Museum has suggested might be considered surrounding further investment in the Roth Building, and their potential eligibility for use. These funds would have to go towards specific parts of the rehabilitation project to fund eligible improvements. Available funds of $600,000 may be dedicated to the Roth Building rehabilitation, depending on qualifying square footage allocations, without impacting the 2021- 2025 capital improvement plan (CIP) as reviewed by the Council as part of the adoption of the FY 2021 Capital Budget. Up to $3.1 million may be available depending on qualifying square footage allocations and the defunding of currently planned capital investments outlined as part of the five-year CIP. City of Palo Alto Page 11 TABLE 2: DEVELOPMENT IMPACT FEE FUNDING ELIGIBILITY AND AVAILABILITY FUNDING SOURCE ELIGIBLE? PURPOSE & AUTHORITY FOR COLLECTION POTENTIAL USES IDENTIFIED (FOR FUNDING ROTH) AVAILABLE/ ELIGIBLE FUNDS ARE THESE FUNDS ALLOCATED TO A DIFFERENT CAPITAL PROJECT IN THE FY 2021-2025 CIP? IMPACT FEE - COMM. CTR. (211) Maybe Fees imposed on new residential and non-residential development approved after Jan 28, 2002 for Community Centers. PAMC Ch. 16.58 To use these funds, the Roth Building would need to contain aspects qualifying as a community center (as defined by the nexus study). Potentially eligible funds reflect 19.4% of the building: community room, board room, and education spaces. $0.1M / $2.3M Yes: Funding beyond $0.1M would require defunding Rinconada Improvements (PE- 08001, $2.4M) which coincides with the JMZ upgrade project and upgrade to the entire area for the new JMZ and surrounding areas. These fees would also be a potential funding source for community center improvements such as Cubberley IMPACT FEE - LIBRARY (212) Yes Fees imposed on new residential and non-residential development approved after Jan 28, 2002 for Libraries. PAMC ch. 16.58 To use these funds, the Roth Building would need to build additional library space. Eligible funds reflect 6.7% of the building occupied by City archives. $0.2M / $0.5M ($0.5M / $0.8M total funding incl. dedicated $300,000) Yes: Funding beyond $0.2M in available funds would require defunding Library Automated Mat'l Handling (LB-21000, $0.6M). The Automated Materials Handling (AMH) machine will automate check-in of Library materials at smaller library branches to increase efficiency. Budgets for FY21 and beyond were created based on the allocation of Impact Fee funds to this AMH project and the Children’s Library reopening would be impacted. IMPACT FEE - PARKS (210) Yes Fees imposed on new residential and non-residential development approved after Jan 28, 2002 for Parks. PAMC Ch. 16.58 To use these funds, the Roth Building could build a bathroom outfacing and accessible to the park. Assumes average cost to build a new restroom as assumed in the five-year CIP. $0.3M / $0.3M No Stanford University Medical Center Funds (SUMC) In 2011, the City of Palo Alto entered into a Development Agreement between the City of Palo Alto and the Stanford University Medical Center Parties (SUMC). Funds received in Fiscal Year 2012 as part of this agreement were used in Fiscal Years 2013, 2014, and beyond as outlined in the agreement and approved by the City Council. In Fiscal Year 2018, the City received the final payment of $11.8 million, for a total principal amount of $44.3 million over the course of the development agreement. The funds received per the development agreement are allocated for specific purposes, which include funding for the 2014 City Council approved Infrastructure Plan. Significant details were provided to the Finance Committee in December 2019 and can be found here CMR 10643. These funds were separated into six different buckets to guide and prioritize spending: Community Health & Safety, Expansion Cost Mitigation, Intermodal Transit, Quarry Road Improvements, Infrastructure and Affordable Housing, and Climate Change & Sustainable Communities. Over half of these funds have been spent and nearly $16 million in remaining City of Palo Alto Page 12 balances are programmed for various capital projects over the five-year CIP ($14.6 million between FY 2021 and FY 2023). Projects to be funded by this resource include but are not limited to City Council approved 2014 Infrastructure Plan projects Fire Station 4 Replacement, Public Safety Building, Bicycle and Pedestrian Plan, Quarry Road Improvements and Transit Center and Railroad Grade Separation (train crossings). A balance of less than $3 million remains unallocated in the “Community Health and Safety” expense category to be used on community‐based health and wellness programs that benefit residents of the City. Funds in this category have been used for Project Safety Net investments and support in the past. General Fund and General Capital Improvement Fund The General Fund and the General Capital Improvement Fund provide primary unrestricted funding that would be eligible for investment in the Roth Building. However, the City has seen unprecedented financial impacts as a result of the current public health emergency. The General Fund or General Capital Improvement Fund could be an immediate source of funds if priorities are rearranged and planned projects are defunded or deferred more than five years to support a transfer to the Roth Building project. As is noted in the FY 2021 budget deliberations, adoption, and preliminary 1st Quarter financial report, due to the significant reduction in estimated TOT receipts (up to an $11 million shortfall from budgeted estimates), a rebalancing of the General Capital Improvement Plan will be necessary to align with current revenue estimates. Therefore, additional financial support of this project would further constrict and require the deferment or cancelation of scheduled projects. Consideration of this significantly constrained environment is critical. As part of the development of the FY 2021 Capital Budget and 2021-2025 Capital Improvement Plan, General Capital Improvement Fund projects were reviewed and ranked to provide an analysis on the impact of the reprioritization and rebalancing needed for FY 2020-2021 budget adoption in light of the City’s fiscal challenges. Projects comprised of mostly maintenance and keep-up work for Buildings and Facilities and some Parks and Open Space were determined to have a lower impact if reprioritized further in FY 2021. Examples of these types of projects include building system improvements, roofing replacements, waterproofing and space reconfiguration for City Hall, and streets and sidewalk maintenance (which has already been reduced in FY 2021). The impact of deferring maintenance and keep-up projects is the increased health/safety issues that would cause an immediate need to perform work or shut down a facility. Other risks include an increased potential to replace instead of repair equipment/systems that were not regularly maintained. All these potential impacts could lead to increased overall costs. City of Palo Alto Page 13 Additional Funding Updates - Grants The City was awarded two grants for the Roth Building improvements in April 2020 from the Santa Clara County Historic Resources Grant Program for the restoration of the original clay tile roof ($303,000) and a third grant for the protection and restoration of the Arnautoff Frescoes ($105,000). The roof grant is the second grant awarded for construction costs associated with roof replacement and repair for a total of $303,000 for these costs. Below are the three grants currently awarded to the City with PAM as of the date of this information report transmittal: - Santa Clara County Historic Resources Grant Program 2018 award for roof replacement of $103,000; - Santa Clara County Historic Resources Grant Program 2019 award for roof replacement of $200,000; and - Santa Clara County Historic Resources Grant Program 2019 award for frescoes of $105,000. Post Construction Funding Assuming full construction of Phase 1 rehabilitation, PAM will need funding to develop the museum and its exhibits and ongoing expenses. PAM has presented a financial forecast (Attachment C) that funds these needs largely through donations and grants starting in year one after construction. Lease (or Lease Option) and Basic Terms To proceed with the PAM partnership, as revised and updated, the parties would need to enter into a new lease agreement, or option to lease agreement if PAM has not met certain thresholds to execute the lease. As PAM outlines in their request, they are seeking a 40-year long term lease for $1 and be in place for donor funds to be dedicated towards the building of a “cold shell” or the completion of Phase 1 rehabilitation in full. For example, in order for the $500,000 of PAM cash on hand to be used towards funding a lease with the City would need to be executed. With a few exceptions, the basic terms from the 2007 option and lease agreement (option no longer in effect, and lease never executed) remain the goal. Potential lease terms similar to the past lease could include items such as: • term of 40 years • demonstration of financial commitments • develop and operate a museum at no cost to the City • public restroom available adjacent to the park to be maintained by the City, and community meeting room To facilitate this, PAM has expressed a desire to allow sharing of space with a for profit entity, expanding their options beyond the current terms which stipulate a non-profit organization only. The shared space option is potentially helpful by possibly reducing cost to the PAHM or bringing in new revenue. This sharing of space would need to be in alignment with any City of Palo Alto Page 14 restricted funds such as donor funds or impact fee funds used in the rehabilitation of the building. Potential Options Summary Staff is seeking Finance Committee consideration of potential project elements, including potential funding options and finance limitations. Staff recommends that the Finance Committee recommend City Council direction to pursue one of the following options or a variation of: Option A: Recommend the City Council direct staff to identify funding for a “cold shell” construction project ($6.5 million) including use of “Available Financial Sources” as identified in Table 1, with additional funding needs to be identified by the City ranging between $500,000 - $1.0 million and return to the City Council with both additional funding and a lease option or lease agreement with the Palo Alto Museum for a finite period. Option B: Recommend the City Council direct staff to identify funding for a full rehabilitation of the Roth building (Phase 1 of the Roth Building project as outlined by PAM, $10.5 million) including use of “Available Financial Sources” and “Pledges” as identified in Table 1, with additional funding needs to be identified by the City ranging between $4.0 - $4.3 million and return to the City Council with both additional funding and a long-term (40 year) lease agreement with the museum. Option C: Recommend the City Council direct staff to continue with the prior direction provided by the City Council on March 2, 2020 and return to the City Council with options for the issuance of a Request for Proposal (RFP) including potential rezoning of the site and long term-ground lease structure. Option D: Recommend the City Council direct staff to explore variations of the above options, or similar direction provided in the past by the City Council such as recommend the City Council provide the PAM a fundraising target and timeline to raise additional funds (net of expenses incurred) for the project and direct staff to return to the City Council with a long-term (40 year) lease agreement with the museum that includes a termination clause should there be project delays or lack of funding within a designated period of time. City of Palo Alto Page 15 As noted above, staff is seeking Finance Committee recommendation for City Council consideration. These options are not intended to be mutually exclusive or all-encompassing, they are examples for the Committee’s consideration. Stakeholder Engagement Staff continues to meet with representatives of PAM including their construction contractor to discuss the current status of the project, shared space options, phasing of the construction project, and any additional potential next steps. In addition, staff continues to discuss funding feasibility, legal restrictions, zoning options, as well as construction details with necessary partner departments including but not limited to Public Works, Community Services, the City Attorney’s Office, and Planning & Development Services departments. Resource Impact Additional financial contribution ranging between $0.2 million to an estimated $4.2 million are necessary to close the gap in funding for either a “cold shell” or the completion of the Phase 1 construction rehabilitation project. Depending on the funding options selected, impacts to the current priorities outlined in the City Council approved FY 2021-2025 Capital Improvement Plan will require City Council action to rebalance. Environmental Review The proposed action is to provide direction on next steps for staff efforts with respect to the future use of the Roth Building and does not constitute approval of a project under the California Environmental Quality Act (CEQA). Attachments: • Attachment A: Palo Alto Museum (PAM) Memorandum • Attachment B: Roth Building Construction Budget • Attachment C: Palo Alto Museum (PAM) Fiscal Operating Plan October 6, 2020 TO: Finance Committee, City of Palo Alto FROM: Rich Green, President, Palo Alto Museum CC: Kiely Nose, Director of Administrative Services David Ramberg, Assistant Director, Administrative Services RE: Oct. 20, 2020 Agenda Item #1: Roth Building Rehabilitation Thank you for the opportunity to address the City Council Finance Committee on October 20, 2020. In preparation for that meeting, we wish to share the following information. From Problem to Asset Time is of the essence. The Roth Building is deteriorating rapidly, and timing is critical to ensure the building’s continued status as a National Register landmark. We need to move quickly before the building is even more challenging to rehabilitate. Partnership between the City and the Museum is the most expedient and cost-effective path to full rehabilitation and public use of the Roth Building. Shovel-ready Project: •The Museum has invested over $1.8M to secure fully-vetted and approved construction plans. •A construction contract with Vance Brown Construction and valid building permits are in place. •No other tenant could fill these requirements in a timely manner. Significant Rehabilitation Funding is Already in Place: •PAHM secured the building’s place on the national and state historic registers, enabling preservation funding opportunities including TDRs and County grants totaling over $4M. •Over 1,000 community donors have contributed more than $1.5M toward the rehabilitation project. PO BOX 676 | PALO ALTO, CA 94302 PALOALTOMUSEUM.ORG 650.322.3089 HONORARY CO-CHAIRS Clayborne Carson, PhD Dean T. Clark, MD Gloria Hom, PhD David M. Kennedy, PhD Susan Packard Orr, MBA BOARD OF DIRECTORS Rich Green, President Patricia Sanders, Vice President Lanie Wheeler, Treasurer Monica Yeung Arima Beth Bunnenberg Kevin Curry John King Doug Kreitz Hal Mickelson John Northway Nelson Ng Steve Staiger STAFF Laura Bajuk, Executive Director Crystal Taylor, Assistant Director Lynette York, Bookkeeper A community-driven effort supported by numerous individuals, corporations, foundations, Santa Clara County and the City of Palo Alto. Founding Supporters: Palo Alto Historical Association University South Neighborhood Association Palo Alto-Stanford Heritage Museum of American Heritage Endorsed by: Palo Alto Woman’s Club Palo Alto Chamber of Commerce Professor Gordon Chang, Stanford Stanford Historical Society Stanford Special Collections & University Archives Palo Alto Housing Corporation Pacific Art League Canopy Tax ID No. 77-0634933 Attachment A • With rising construction costs, the total remaining construction project is now $10.5M. With the bulk of the funds successfully committed, the gap to complete rehabilitation is $3.71M. (see funding illustration below) We have identified several ways for the City to fund the rehabilitation balance without impacting the General Fund. Several City functions or required spaces will be housed in the new Roth Building. City support for the costs of developing those spaces, including the pro rata cost of Common Areas, would include: • Library Impact Fees. The City-owned Archives, an extension of the library function and previously located at Rinconada Library, will occupy 6.7% of the building, which amounts to $1,051,955. • Community Center Impact Fees. The City-required meeting, event (including the Community Room and Board Room) and education spaces will occupy 19.4% of the building, which amounts to $3,051,426. • Parks and Recreation Impact Fees. The City-required restroom exclusively serving Heritage Park is valued at $350,000. • Exhibit areas will focus on both Palo Alto and Stanford histories, celebrating a rich, intertwined heritage in a way that justifies use of additional funding from the Stanford Medical Center Development Fees. We ask that the City Council take the following decisive actions: 1) Fund the remaining construction cost as outlined above and in keeping with City investment in other, similar community projects in City-owned buildings. 2) Issue a lease between the City and PAHM. A 40-year, renewable lease is the minimum required for historic preservation funding and many grants. Once in place, PAHM can release donor-restricted funds and begin construction. 3) Commit to a full, consistent City-Museum partnership for the rehabilitation of the Roth Building. City support is ESSENTIAL to our progress. We ask that both parties commit to a partnership with mutual desire for long-term success. This is a chance to re-engage, together, in full partnership. We appreciate the support you have shown in the past and believe that our suggested course is the best option for saving the Roth Building and laying the foundation for the Museum this community so strongly desires. Attachment A Palo Alto Museum Capital Funding Total cost of rehabilitation project $12.3M Soft costs architecture, permits, etc. PAID* ($1.8M) Total current construction budget $10.5M Museum Cash on hand ($ 0.5M) Museum Pledges outstanding ($ 0.92M) TDRs (Museum generated)($ 3.103M) (incl interest) TDRs (other)($ 0.667M) County grant ($0.1M requires public use)($ 0.3M) City repair, restoration rear wall ($ 1.0M) Library impact fees ($ 0.3M) Total available for rehabilitation construction ($ 6.79M) Gap to fully fund rehabilitation $ 3.71M County grant to fund Arnautoff fresco restoration ($0.1M)* The Palo Alto Museum has paid all up-front costs Birge Clark Attachment A Attachment B Palo Alto Museum: OPERATIONS BUDGET: 7-Year Forecast & Milestones Revised 8.24.2020 1 2 3 4 5 6 7 CONSTRUCTION INSTALL & OPEN MUSEUM MUSEUM FULLY OPERATIONAL AND GROWING Roth Building Rehabilitation: (two year estimate; separate budget) •Prepare for short- and long-term exhibits and educational programs (planning, researching, hiring). •Continue developing community partnerships and programs. •Establish mechanisms for membership, planned giving and other fundraising options available to an open museum. Open the museum: public access to: •Opening exhibits •Guy Miller Archives •Quarterly community programs (min.) •Education and school outreach programs •Community meeting/ program spaces (board room, community room, education space) •Coffee cart •Museum shop kiosk •Heritage Park restroom Expand museum services. •Permanent exhibit launches. •Add electronic and immersive media to exhibit spaces. •Collections accessible. •Café open. •Museum store expanded. •Community programs expand, often in collaboration with other organizations. Campaign goals completed. •Changing galleries (2) debut new exhibits every year. •Permanent exhibits refreshed every 3- 5 years going forward. 1 2 3 4 5 6 7 REVENUE $998,750 $1,701,250 $4,302,250 $2,951,880 $2,475,024 $2,094,447 $2,067,636 EXPENSES $412,472 $1,239,156 $2,933,656 $2,409,998 $1,759,632 $1,539,050 $1,446,711 $0 $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 PAHM 7-Year Operations Budget Projection Attachment C Palo Alto Museum: OPERATIONS BUDGET: 7-Year Forecast & Milestones Revised 8.24.2020 Budget Detail by Category Year 1 2 3 4 5 6 7 (Construction budget separate - not included here) CONSTRUCTION INSTALL & OPEN MUSEUM MUSEUM FULLY OPERATIONAL AND GROWING v2.3 (abbreviated) 8.25.2020 Cold Shell Completion REVENUE $ 998,750 $ 1,701,250 $ 4,302,2501 2 $ 2,951,880 $ 2,475,024 $ 2,094,447 $ 2,067,636 EA R N E D Mission: Special exhibit admission fees3, memberships, public program fees, school and education program fees, history book sales proceeds (net) 20,500 31,000 36,000 58,500 69,495 77,750 89,750 Space Use Fees & Other: Café and museum shop (% of vendor income), event rentals (net), other tenant space (3,509 sf @ $6/sq ft)4, interest, fundraising event (net), endowment income (draw 4% of capital) 18,250 20,250 197,250 316,510 530,808 643,144 755,522 CONTRIBUTED: donations, corporate gifts, sponsorships, grants, museum-only pledges fulfilled 960,000 1,650,000 4,150,0005 2,710,000 2,110,000 1,660,000 1,560,000 EXPENSES $ 412,472 $ 1,239,156 $ 2,933,656 $ 2,409,998 $ 1,759,632 $ 1,539,050 $1,446,711 PE R S O N N E L Employee Expenses: exec. director, development director, assistant director, curator of exhibits & collections, collections & exhibits asst., development asst., bookkeeper. Includes employee wages, costs & benefits. 229,282 425,510 553,309 624,128 646,866 676,491 700,336 Professional Fees/Independent Contractors: Construction Liaison. Exhibit content writer, editor, exhibit designer, exhibit technician, graphic designer, development/ board training consultant, CPA/audit services, legal, IT support, web design, virtual museum 73,000 234,375 121,675 95,833 95,999 96,173 96,355 NO N -PE R S O N N E L Mission Delivery: exhibition supplies - printing, cases, paint, tools, supplies, gallery maintenance, acquisitions, conservation, collections supplies, archival materials, catalogs, brochures, signage, translation, transportation 11,450 475,450 1,985,300 1,498,950 809,865 544,772 411,609 Administration/Governance: insurance, telephone/internet, copier contract, office supplies, hardware, software subscriptions, printing, furniture, fixtures & equipment allowance (1-time), org. dues, stock sale fees, filing fees, credit card processing fees, postage, offside collections storage rental, etc. 48,140 52,803 130,458 31,463 32,621 33,736 34,912 Fundraising/Development & Outreach: printing, supplies, marketing 49,800 45,518 46,264 47,074 48,459 49,626 50,814 Facility/Maintenance6: tech/handyman, janitorial, security, landscape maintenance, repair, elevator, general supplies, lighting maintenance supplies, property & general liability insurance, utilities. 800 5,500 93,550 109,140 122,070 134,127 148,146 NET7 $ 586,278 $ 462,094 $ 1,368,594 $ 541,882 $ 715,392 $ 555,397 $ 620,924 1 $2M budget makes PAM eligible for larger grantors, such as the Hearst Fdtn. 2 2M+ revenue triggers audit (Cal Nonprofit Integrity Act) 3 Regular Museum admission is free, per our agreement 4 No charge for City space use - 2,842 sq. ft @ $6/sq ft = $17,000 annual value of donated space 5 Peery Family Fund pledge of $2M redeemed once Museum opens 6 Facilities numbers need updating with City assistance 7 Net surplus moved into savings/reserves/endowment or donor-designated funds, per policies established by the board of directors FINANCE COMMITTEE ACTION MINUTES Page 1 of 3 Special Meeting November 17, 2020 The Finance Committee of the City of Palo Alto met on this date via virtual teleconference at 6:00 P.M. Present: DuBois, Kniss, Tanaka Agenda Items 1.Discussion With the Palo Alto History Museum and Recommended Direction to the City Council Regarding Options for the Rehabilitation and Future use of the Roth Building Including: Funding, Construction Phasing, and Financial Support Requested by the Museum. MOTION: Vice Mayor DuBois moved, seconded by Council Member xx to recommend the City Council ask Staff to identify funding for the full rehabilitation of the Roth Building and to bring this item to Council. MOTION FAILED DUE TO LACK OF A SECOND MOTION: Council Member Kniss moved, seconded by Vice Mayor DuBois to recommend the City Council direct Staff to identify funding for a “cold shell” construction project ($6.5 million) including use of “Available Financial Sources” as identified in Table 1, with additional funding needs to be identified by the City ranging between $500,000 - $1.0 million and return to the City Council with both additional funding and a lease or lease option agreement with the Palo Alto Museum for a finite period. Some funding, such as Palo Alto Museum (PAM) donor funds, necessitate using PAM approved plans, and to identify other potential funding options. INCORPORATED INTO THE MOTION WITH THE CONSENT OF THE MAKER AND SECONDER to have Staff work with museum staff to suggest a length of time for the museum to have enforceable lease terms, subject to conditions. MOTION AS AMENDED RESTATED: Council Member Kniss moved, seconded by Vice Mayor DuBois to recommend the City Council direct Staff to: ATTACHMENT B ACTION MINUTES Page 2 of 3 Sp. Finance Committee Meeting Action Minutes: 11/17/2020 1. Identify funding for a “cold shell” construction project ($6.5 million) including use of “Available Financial Sources” as identified in Table 1, with additional funding needs to be identified by the City ranging between $500,000 - $1.0 million; 2. Return to the City Council with both additional funding and a lease or lease option agreement with the Palo Alto Museum (PAM) for a finite period; some funding, such as PAM donor funds, necessitate using PAM approved plans, and to identify other potential funding options; and 3. Direct Staff work with museum staff to suggest a length of time for the museum to have enforceable lease terms, subject to conditions. MOTION AS AMENDED PASSED: 3-0 Council took a break at 8:21 P.M. and returned at 8:30 P.M. 2. Finance Committee Recommends the City Council Approve Amendment Number 1 to Contract Number C19171565 With Brown and Caldwell for Professional Design Services on the Secondary Treatment Process Upgrade Capital Improvement Project (WQ-19001) at the Regional Water Quality Control Plant to add Services, Increase Compensation by $1,500,745 for a new Maximum Compensation Not-to-Exceed $4,424,101, and to Extend the Contract Term Through September 30, 2025. MOTION: Chair Tanaka moved, seconded by Council Member Kniss to recommend the City Council: 1. Approve and authorize the City Manager, or his designee, to execute Amendment No. 1 to Contract No. C19171565 with Brown and Caldwell to increase the contract amount by $1,500,745 to provide design engineering services beyond the original scope of the contract for the design of the Secondary Treatment Process Upgrades Project (CIP WQ-19001); 2. Extend the term through September 30, 2025; 3. Have the revised total contract amount not exceed $4,424,101, including $4,021,911 for basic services and $402,191 for additional services; 4. Direct Staff perform a commercial comparison of rates; and ACTION MINUTES Page 3 of 3 Sp. Finance Committee Meeting Action Minutes: 11/17/2020 5. Direct Staff compare the Operating Share versus the Capital Share versus the Maximum Flow Capacity. MOTION PASSED: 2-0 DuBois absent Adjournment: The meeting was adjourned at 9:14 P.M.