Riley County Looking At $25 Million CIP

Roger Edgar and Dave Arteberry of George K. Baum & Co. meet with the Riley County Board of Commissioners Monday for a work session
on a $25 Million Capital Improvement Program.

The purpose of the work session was to discuss options for funding County projects.

A memo giving background information was given to the Commission from Stan Morgan and Corey Swisher of the Department of
Administrative Services.

Here is part of the Memo:

Capital Projects

(amounts are estimates):

Renovation of Two Courthouse Plaza Administrative Buildings

Estimated Cost: $5,000,000

Revenue Source: to be determined.

The county is currently renovating its two downtown administrative buildings. The renovation of the first floor of 110 Courthouse Plaza has
been completed at a cost of $1,000,000, which has been financed on a pay-as-you-go basis, using funds from the County Capital
Improvement Fund (CIP). It will cost $5,000,000 to complete the renovation of the Courthouse Plaza Buildings.

Purchase Price Balance on Courthouse Plaza East

Estimated Cost: $500,000

Revenue Source: to be determined.

The current, approximate balance on this debt is $500,000.00. the Commission is considering whether this should be converted to G.O. bonds.
We are now paying $80,000 annually from the CIP.

New County Shop Site

Estimated Cost: $3,000,000

Revenue Source: to be determined.

The County has acquired property and has completed the site work for a new county shop project. These shops are currently located on
Anderson Avenue in Manhattan. When vacated this prime property in Manhattan will be sold. It will cost $3,000,000 to complete the new
shop facilities.

Industrial Development Park

Estimated Cost: $200,000

Revenue Source: to be determined.

This may be done jointly with the City of Manhattan. The County’s share is difficult to estimate, as this initiative is in the formative stages.
Assume $200,000.

Road and Bridge Construction.

Estimated Cost: $16,000,000

Revenue Source: to be determined. The County established a Road and Bridge Advisory Board several years ago. A copy of the most recent
report is attached.

Other CIP Annual Project costs

Estimated Cost: $450,000

Revenue Source: CIP mill levy

Project Cost Summary

Building Renovation $5,000,000

Plaza East Purchase

Price 500,000

New Shop Project 3,000,000

Industrial Development

Park 200,000

Road and Bridge 16,000,000

Other CIP Projects 450,000 Total CIP $25,150,000

Other Relevant Information

Current Sales Tax Information:

* The sales tax rate for Manhattan city residents is 6.9%, computed as follows

* State sales tax: 4.9%

* City sales tax: 1.0%

* County sales tax: 1.0%1

Total Sales Tax 6.9%

* The sales tax rate for Riley County citizens outside of the City of Manhattan:

* State sales tax: 4.9%

* County sales tax: 1.0%

Total Sales Tax 5.9%

* Current assessed valuation is $255,767,241 and the motor vehicle valuation is $35,942,350.

* Riley County currently has a mill levy of 34.637 mills. A mill in 2001 is expected to raise $260,000.

* The Riley County CIP fund has $450,820 in unencumbered funds.

•• The County sales tax of 1.0% consists of .50% for County general fund and .50% for the Law Enforcement Center. If current sales tax
revenues hold steady, It is estimated that the .50% mill levy for the LEC will sunset by the end of 2003.