Prop "P" For Parks Goes to the Olivette Voters August 7

PROPOSITION “P” AUGUST 7, 2012

Proposition “P” is a referendum election that will be held in the City of Olivette on August 7. Proposition “P” asks Olivette voters to approve City bonds to acquire property and develop a modern athletic complex and other recreation amenities at Warson Park for the enjoyment of Olivette residents and visitors..

Passage of Proposition “P” will allow the City to develop six baseball, softball and soccer fields, pavilion, concession stand and restrooms, enhanced walking paths, tennis courts, expanded playgrounds, upgraded walking paths, and expanded and improved parking at Warson Park.

Included in the proposed scope of work under Proposition “P” is the demolition of the Olivette Community Center due to its age, increasing maintenance costs, and underutilization by Olivette residents. The City Council has observed a trend for several years of increasing costs to maintain the Community Center facility that are not supported by revenues generated from facility operations.

The total estimated cost of land acquisition and facility development at Warson Park, based on the park master plan, is $2,940,000.

The total amount of City of Olivette General Obligation Bonds that Proposition “P” will authorize is $3,020,000. The breakdown for the project funding is as follows:

Park Redevelopment/Land Acquisition

$2,800,000

Construction Contingency

$140,000

Issuance Costs

$49,775

Total Debt to be Funded

$3,020,000

Summary: Debt to be repaid for 20 years after voter approval.

Jeff Wade, Olivette's director of Parks & Recreation went on a walking tour to explain what will unfold should the bond issue pass.