Next Steps Include May 24 City Council Meeting to Consider Approval of Proposed Financing and Construction of Phase 1 of the Project
After years in the making, a major milestone towards the reality of a new Veterans Memorial Building/ Senior Center will be considered by the City Council on May 24 — proposed financing and award of contract to commence construction for phase 1 of the project. These two actions will officially kick-off the development of the shared inter-generational campus of buildings and spaces including, a new Veterans Memorial Building/Senior Center with a theater, catering kitchen, multi-purpose rooms, senior club room, wellness/Adaptive Physical Education rooms, non-profit partner officers, gardening space, a mini-gym, Veterans exhibits, and more!
Since 2011, the City has embarked on reimagining the Veterans Memorial Senior Center Campus at Red Morton Park. There are a total of five separate buildings in the northern portion of the Park which includes the Veterans Memorial Senior Center (VMSC), the Gift Shop/VMSC Administration Building, the Senior Center Annex (“Old 49er Building”), the NFL Alumni Building, and Herkner Pool. All of these buildings are at various stages of decay, are inefficient in terms of energy usage, require significant maintenance obligations, and are inefficient to staff and for facility operations.
What is Included in Phase 1 of the Project?
The proposed project for Phase 1 includes 45,000 square feet of multipurpose rooms, a caterer and food demonstration kitchen, a welcoming lobby for social gatherings, a 299-seat theater, exhibit space honoring veterans, NFL alumni exhibit space, pickle ball and half-court basketball gymnasium, wellness and adaptive physical education studios, roof top garden and walking track, various conferencing and administrative space for City staff and a host of non-profit organizations who partner with the City to provide numerous community services. The project also includes the construction of a public promenade connected to the park, a new east side senior center parking lot and traffic calming improvements on Madison and on Valota.
How Much Will Phase 1 of the Project Cost?
Following a competitive bidding process, the City received five base bids in April 2021. The lowest, responsive and responsible bidder is Thompson Builders Corporation, with a total bid price of $51.1 million. Staff is recommending that the City Council also authorize the City Manager to increase the contract amount, if necessary, up to 10% of the amount awarded, in a total not to exceed amount of $56.2 million.
What is Included in Phase 2 of the Project?
Phase 2 of the project will include the construction of a new YMCA building to replace the existing Sequoia YMCA facility on the new site, plus parking and certain jointly financed site improvements. The YMCA is responsible for financing Phase 2 of the project.
How Will the City Pay for the Project?
To finance the project, the City will enter into a multi-year lease with the Redwood City Public Facilities and Infrastructure Authority, which is the legislative body taking action relating to the issuance and sale of bonds in the aggregate principal amount not to exceed $65.4 million. This will provide financing for all the public improvements to be owned and operated by the City. The City will use General Fund revenues to make the lease payments.
The sale of the Bonds will cause the City’s General Fund to assume annual lease payments of approximately $3.1 million per year, commencing in FY 2023–24. Actual debt service will depend on market conditions at the time bonds are sold.
The City Council has appropriated funding in the amount of $15,500,000 to this project over the past several fiscal years in the Park Impact Fee and Park-in-Lieu Funds and an additional $1,000,000 dedicated to this project from the Stanford in Redwood City Development Agreement. These funds have been allocated to the soft costs of the project including public outreach, the design and development phase, construction drawings, project management, and construction administration services.
What’s the Timeline for Construction and Opening of the New Veterans Memorial Building/Senior Center?
It is expected that construction will commence in July 2021. The Veterans Memorial Building/Senior Center is expected to be ready for occupancy by July 2023.
Looking for More Information on the Project?
Visit our dedicated project web page by clicking here.
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