Financing Options


finops_web

 

Proposed Facilities and Services – 5-Year Program

Both Wellington and the District have ambitious capital projects planned for the future. A variety of funding sources and options are available to see the projects through to completion.  Acme’s facilities and services will be maintained and expanded to meet the needs of projected growth within the next 5 years. Wellington’s Capital Improvement Plan (CIP) serves to:

  • Economically build and maintain a capital infrastructure
  • Complete projects on schedule and within budget
  • Provide for an annual update to the CIP schedule
  • Allow for additions of projects and adjustments due to changing priorities
  • Link projects with the vision, mission and goals, and the priorities of Council and citizens
  • Coordinate department resources and equipment
  • Communicate the justification, description and costs of projects to stakeholders
  • Identify funding sources, capital and ongoing expenditures for all projects
  • Allow sufficient time to identify project financing and implementation measures

Only projects that meet the definition of a “capital improvement” are included in the CIP. Planning of the CIP is intended to minimize annual capital changes through the multi-year nature of the process. Each year, the CIP is reviewed and updated to reflect changes in the physical, economic or political environment.

The projects planned for water control, roadways, and parks and recreational facilities, which have been incorporated into Wellington’s Governmental CIP, are presented below.

 

Storm water Improvement Plans

 

Planned Improvement and Maintenance Projects

The table below identifies the annual budgeted amounts for storm water system maintenance and improvements, as noted in Wellington’s CIP for Fiscal Year 2016/2017 through 2020/2021. All the storm water improvements are funded via the District assessment.

CIP_FiscalY_2016

 

The severe rainfall which occurred from Tropical Storm Isaac in 2012 made evident the additional improvements needed in the system. These were identified in the 2014 Water Control Plan Amendment. Subsequently, a 10-year plan of capital improvements was approved by the board, and an additional $30 per unit assessment was enacted to pay for the improvements.

Some of the 10-year plan improvements have been completed. At this time, the capital improvement projects planned for the next 5 years are summarized here.

 

Sustainable Initiatives

Water Conservation Programs

Acme/Wellington conservation programs include public awareness programs, Florida-friendly programs and shared irrigation wells. The Toilet Leak Detection Program is designed to inform utility customers of the consequences of having a leaking toilet, water waste resulting in higher utility bills. An informational flyer was distributed to residents along with blue leak detection tablets and directions on their use.

The Non-Potable Water Irrigation System Rebate Grant Program which offers rebates to residents using potable water for lawn irrigation has continued. It is designed to encourage and assist residents in the installation of irrigation systems that do not use potable water. The irrigation systems can be well or pump systems connected to a canal or lake. One hundred applications are drawn at random. After installation of their systems, residents are given a rebate of 50 percent of the installation costs, up to a maximum of $800 for a well system, and up to a maximum of $400 for a canal/lake system.

 

Roadway Improvement Plans 

These transportation elements within the District/Wellington are considered within the total operations and maintenance and/or capital improvement project costs and are assessed as one unit, dependent upon the use and location.

 

Wellington Unpaved Roads

Future projects also include an enhanced roadway landscape plan, additional street lighting to promote traffic safety, dust control and stabilization for shell rock roads, and improved signage, irrigation, drainage and hardscape.

The table below identifies the annual budgeted amounts for roadway improvements as specified in Wellington’s CIP for Fiscal Years 2016–2017 through 2020–2021. None of the roadway improvements are funded via the District assessment.

CIP_Roadways_2016

 

Bicycle and Pedestrian Pathways

The CIP budget for the Wellington Road & Pathway Circulation Expansion project is $500,000 per year for the next five years.

 

Equestrian Bridle Trails

The improvement and maintenance of the existing bridle trail system within Acme/Wellington is administered on an ongoing, as needed basis. The trails must be maintained in order to provide safe riding conditions. Current project elements include land/easement acquisition, trail head installation, culvert/bridge crossings, landscaping, trail footings, trail crossings and fencing. An Equestrian Trail Circulation Plan has been adopted which identifies where these improvements should be made and how additional elements can be added to enhance the trail system. The Equestrian Trails O&M and CIP costs are identified separately in the annual budget and total approximately $600,000 per year. The funding schedule for neighborhood trail improvements is shown by year in the following table.

 

Parks and Recreational Facilities Improvement Plans 

Acme/Wellington provides residents with a wide range of high-quality recreational facilities, programs and services. Assessments are calculated incorporating maintenance for Acme owned neighborhood parks only.

Wellington is in the process of renewing the equipment replacement and improvement schedule for neighborhood parks. Grants are applied for each year to assist with funding added park elements.

Other Potential Units of Development

SR7 Employment District
One of the Village of Wellington strategic initiatives is to expand employment opportunities on lands within the State Road 7/441 corridor. Employment within this corridor has been the topic of various studies performed by Palm Beach County over the past decades. Regionally, Wellington’s State Road 7 Corridor is centrally located between three major hospitals; Bethesda West to the south, Palms West to the north, and within Wellington the Wellington Regional Medical Center located on SR7, all of which are major medical employers. As an industry, medicine has a wide variety of careers that are directly and indirectly supportive of the medical field and job creation. Wellington’s vision is to promote the creation of jobs with family sustaining employment opportunities.

The SR7 Employment District consists of 70 acres of developed office and retail space plus 180 acres of undeveloped lands. The developed general and medical office space continues to provide for employment opportunities. In fact, there is a trend which is converting existing retail space within the SR7 corridor to medical or general office use. This trend continues the advancement of family sustaining professional and technical employment options for the community.

The undeveloped lands consist of a Village owned 69 ac site located on SR 7, south of the Wellington Green Mall. The remaining 110 acres are located north of the Wellington Regional Medical Center and fronts on SR7. Wellington’s vision for these combined parcels is to create an integrated mix-use campus consisting of approximately 2.0 million additional square feet of professional office space. Additionally, the possibility for professional and technical education facilities could also provide additional opportunity to municipal and area residents to obtain employment, with an estimate of 5,000 additional jobs created.

Traditionally, a master plan for a project of this magnitude would include integrating uses both horizontally and vertically, a proposed street layout, location and boundaries of development parcels, and a proposed uses table to guide parcel-by-parcel development and maximum proposed development limits within the district. Based on an approved master plan for the SR7 Employment District, the development of each parcel would not require additional public hearings, but would require administrative site plan approval by staff including uses that can occur within the various parcels as they develop.

The future boundaries of the SR7 Employment District overlap service areas within both the Acme Improvement District and Lake Worth Drainage District. In order to achieve master planning and infrastructure implementation and maintenance, the following actions were completed in 2014:

  • Issuance of an inter-local agreement between the Lake Worth Drainage District and Acme Improvement District to maintain storm water management systems within the proposed area; and
  • Adjustment of the jurisdictional boundaries of Acme to encompass a larger portion of the SR7 Employment District in order to supply drainage services through the same provider. This deannexation included approval from each property owner, Lake Worth Drainage District, and the Florida legislature.

The SR7 Employment District will be pursued within the next 5-year Water Control Plan cycle, Wellington will address implementation of infrastructure, the operation, and maintenance associated therewith.

“4 Corner” Neighborhood Commercial Districts
Historically, Wellington’s “4 Corners” have serviced as neighborhood commercial centers supporting the needs for goods and services of the surrounding neighborhoods. For over 30 years, these centers have evolved through market conditions to meet the community’s needs. Linking these neighborhood businesses with the employment opportunities provided within SR7 Employment District would strengthen the community’s overall business profile.

As these centers have aged, some centers have expanded their mix of uses and to the extent possible, upgraded the properties. The Village has also provided infrastructure improvements that will promote and complement the re-development of these neighborhood centers. These improvements include Forest Hill “Boulevarding” and the development of Town Center which includes; Village Hall, Community Center, the Aquatic Complex, Scotts Place, and the Amphitheater. To advance the re-development of the 4 Corners, Wellington looks to offer incentives that would attract investment and create partnerships with the private sector.

Incentives will be geared towards regulatory initiatives i.e. density bonuses, flexibility from development regulations in certain instances involving creative designs, and expedited permitting. The results of this approach would be to reduce development costs, increase profits by increasing densities, and providing for state-of-the-art design with energy efficiencies. These Wellington-promoted projects should provide benefits to the developer and provide an incentive that an experienced developer should instantly recognize. The Potential 4 corners re-development locations are:

  • NE and SE corner of Wellington Trace and Forest Hill Boulevard
  • NE and NW corner of Wellington Trace and Greenview Shores Boulevard
  • Forest Hill Boulevard and South Shore Boulevard

The goal of this approach would be to provide potential developers a clear understanding of Wellington’s goals and vision to create jobs which are family sustaining employment opportunities from the conception of a project.