Garner Recreation Center Funding Packet

By: Matt Carusona 

PRTM 503 - North Carolina State University

11.22.17

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Reflection: For this particular assignment we were asked to develop a facility funding packet on an existing facility that was recently built or is in the final stages of construction. I chose to create a Funding Packet for the new Garner Recreation Center.  The packet included information on the development process, the overall construction process and costs, funding and financing mechanisms, operational, financial planning and a bond/loan schedule. Creating this packet for the Garner Recreation center was a great exercise for me, as I did not have much experience with capital projects. One of the challenges of this project was that the facility had faced a good amount of delays, so the information about the process was hard to come by. Fortunately, I was able to interview both the towns Finance Director and Parks and Recreation Director and review the Towns Parks and Recreation Trust Fund Master Plan to gather the needed information to complete the assignment. This assignment allowed me to work through a capital project funding process and the bond repayment schedule. Understanding the process and concepts needed to finance a recreation facility is a skill that will help me as I progress in my career. Determining the estimated cost, funding sources, and creating a General Obligation Bond Repayment Schedule was also an exercise that helped me gain valuable knowledge about the process involved in planning and building new facilities, a skill that I will need as a progress in my career.