GGA Financial Services, LLC is Goldberg Group Architects’ Municipal Advisory firm that was formed to comply with new federal regulations. Lawrence Goldberg will be the new company’s Managing Member and will assist jurisdictions with financial planning for Goldberg Group Architects’ public architecture projects.
Mr. Goldberg will work with Goldberg Group Architects staff to develop an affordable and accurate financial plan. By working exclusively with Goldberg Group Architects’ clientele, the total cost of ownership can be controlled. The size of the facility, staffing and operational costs and long-term maintenance requirements are all factors that contribute to the total cost of ownership.
GGA Financial Services, LLC can assist with project budget, staffing and operations, financial projections and options for funding, such as a traditional referendum or revenue-based funding.
While Northeast Kansas will decide next week whether to retain a County Sales Tax for another five years, there’s one piece of good news for voters: their County Jail has collected Housing revenues from Wyandotte and Johnson Co., KS. and reduced the project’s Bond debt further to $530,000. The original Project, completed in 2008, cost $3,072,000 but was paid down to $895,000 and re-financed after just four years. At the current pace the Doniphan County Jail could be paid off in another three years for a total Term of 8 years, well ahead of the 10-year Term originally used for financing the project. “It really works,” explains Artie Lucas, former Chairman of the Doniphan County Board when Goldberg Group Architects designed their County’s long-overdue, 48-Bed facility, “if you can get the Project budget, staffing & operations and available resources all to balance, you can have a very successful project – and Doniphan County has.”
We have discussed innovative financing options which sometimes allow a jurisdiction to proceed with a new jail without a tax increase. This is possible only when the county has a significant budget for boarding prisoners or cash reserves put away to fund capital expenditures. For some counties, these numbers don’t “pencil out” and voters in the county will need to approve additional taxes to provide the revenue to proceed. Now what?
Goldberg Group Architects has successfully helped many counties through this process. First, a Feasibility Study is completed to determine what the needs of the county are and how to best meet those needs. Our team of experienced professionals has the criminal justice background to evaluate current and future custody needs along with operational and staffing budgets. GGA will evaluate the most cost effective options for new construction, renovation/expansion and sites. This information is the foundation of a preliminary design and to establishing a construction budget. With our specialty experience we go a step further and help your county determine total project costs which also includes fees, interest, furniture, fixtures and equipment. GGA has an exceptional record of planning well for total project costs and then hitting its budgets. We work closely with county officials, bond attorneys and investment bankers to structure the bond financing a properly.
Community support for the project IS critical. Goldberg Group Architects and county officials work as a team to communicate with voters through public hearings, printed or video information and interviews with local media. It is important to communicate what the deficiencies are with the existing facility and how a new or renovated facility provides the solution. We will be able to demonstrate prudent and well planned use of tax dollars.
In these difficult economic times, voters often reject Bond Issues or Sales Tax Referendums at the ballot box. Elected officials are left wondering how to proceed with critical infrastructure projects, such as a new jail. The solution comes in hiring an experienced criminal justice architect who can help you with innovative jail financing. Lawrence Goldberg, AIA, senior partner of Goldberg Group Architects (GGA), has included successful financial planning in his nationwide criminal justice practice for over 25 years. Specialized experience is needed to help a County balance financial resources with realistic project costs.
If a Public Banker is going to issue Bonds for a jail project, and a County is going to successfully pay off these bonds, then financial analysis and architectural design must come together on a level of performance rarely seen in public architecture. GGA has the unique expertise to perform at this high level. Goldberg has developed a list of critical benchmarks which must come together for a successful outcome: overall project costs, staffing and operational costs, and sources of revenues. Cost control is critical. The County must realistically assess operational costs and the architect must design a cost effective facility that hits its budget and does not have cost overruns during construction. Goldberg Group Architects has a proven track record of performance that can help a County evaluate if a new jail could become a reality without new taxes.