2
April 2016
Town Approves New Municipal
Center, Accepts KICA Offer to
Purchase Existing Building
Story Highlights
Town approves new municipal
center for $9.25 million
Site work anticipated to begin
by April 2016
At its March meeting, the Kiawah
Island Town Council gave final
approval to construct a new Municipal
Center on property it purchased last
fall on Betsy Kerrison Parkway.
Construction of the new center was
approved for $9.25 million, while
Thomas Construction Group was
chosen as the general contractor
with a bid of $7.3 million. Council
member John Labriola, who is also chair of the Municipal
Center Committee, stated, “This decision represents a major
milestone for the town to construct a new Town Hall on the
Betsy Kerrison site and become the ‘Gateway’ to Kiawah.”
Town accepts KICA offer of
$1.575 million to purchase
current building.
The town built the existing facility in 1996 and the
association has leased and occupied half of the building for
its administrative operations since early 1997. The town
intends to use the proceeds from this sale exclusively toward
the construction of the new Municipal Center. KICA does
not plan a member assessment to pay for the property,
which can be paid for with existing reserves, a mortgage or a
combination of the two.
In a joint statement, Mayor Charlie Lipuma and (then) KICA
Board Chair Dave Schoenholz hailed the agreement as a “winwin” for the community. Both KICA and the town had the
property independently appraised and the two groups then
worked together with both appraisers to reconcile differences
in various assumptions and to agree to a fair price.
It is anticipated that site work on the new center will begin
by April. For more information and updates on the project,
visit kiawahisland.org.
KICA and the town will continue to be neighbors at the
Beachwalker Drive facility until completion of the new
Municipal Center, planned for mid-2017.
Also at the March meeting, Town Council voted unanimously
to accept an offer by KICA to purchase the existing Town Hall
site for $1.575 million. Specific details, such as a closing date,
have not yet been determined.
Both the town and KICA look forward to providing updates to
the community, as they are available.
KICA Finances Strong, Stable for 2015-16
Story Highlights
2015 ended with a minor
$57,722 negative variance
compared to budget
2016 budget is break-even
with a modest surplus of $260
Thanks to sound financial planning
and oversight by KICA staff and
committee members, the association
is in strong financial position as it
moves through 2016. That was the
message from (then) KICA Board
Treasurer Bruce Stemerman at the
Annual Meeting held in March.
Though the historic rain/flooding events last October led to an
unexpected increase in expenses in 2015, an increase of nearly 12%
in Contributions to Reserves (CTRs – 0.5 % fee on real estate
transactions on Kiawah) boosted revenues. The end result was a
very balanced and well-planned financial year in 2015, with just a
minor ($57,722) negative variance compared to the 2015 budget.
“Better planning has led to better spending,” said Stemerman.
“KICA has an incredible team of staff finding better, more
efficient ways to manage the island.”
The 2016 budget anticipates an increase of both revenues
and expenses, leading to a break-even budget with a modest
surplus of $260.
For a full look at the Treasurer’s Report, the 2016 budget, and
other in-depth financial statements, visit kica.us/finances.