TO: Members of the Governing Board
FROM: Christopher Silke, District Engineer
REPORT BY: Annamaria Martinez, Assistant Engineer
SUBJECT: NBRID Financial Plan Update
RECOMMENDATION
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Receive an update on the Napa Berryessa Resort Improvement District community meeting held on November 13, 2024 where various funding options were presented to the community, and provide direction to staff to advance one of the funding scenarios outlined in the financial plan to boost revenue to bring fiscal stability to the operating budget. (No Fiscal Impact)
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BACKGROUND
On October 29, 2024, the Napa Berryessa Resort Improvement District (NBRID) District Engineer in collaboration with Robert D. Niehaus, Inc. (RDN), NBRID's financial consultant, presented an updated operations budget financial plan to the Board for their information, and presented potential revenue generating options outlined in the financial plan to boost revenue such that the District would be fiscally sustainable. Fiscal stability is a requirement for NBRID to qualify for funding programs and grants to perform necessary capital improvements to district facilities.
Staff was directed to present the same material to customers and property owners in the District at a community meeting that was scheduled for November 13, 2024 at the Capell Valley Volunteer Fire Station and return to the board to discuss possible stakeholder endorsement of one of the funding scenarios. The previous presentation on October 29, 2024 included the history of the District's finances.
The following is a summary of the funding scenarios. The numbers have been adjusted from those presented at the October 29, 2024 board meeting and the November 13, 2024 community meeting to account for revised assumptions regarding the allocation of costs over the next 10 years. All but Scenario Zero include a fund balance target of $1.2M at the end of 10 years.
Scenario Zero, or do nothing - Under this scenario, the current and future operat...
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