Amherst Central Park Focus Area 3 MusicalFare

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Town of Amherst, Amherst Central Park Focus Area 3
2024-2029 Capital Improvement Project ACP-3
Map, Plan & Report
Attachment: MPR ACP-3 Amherst Central Park Focus Area 3 New Theater (RES-2024-266 : Amherst Central Park Focus Area 3 (Bond
Town of Amherst
Facilities Department
Amherst Central Park Focus Area 3
2024 – 2029 Capital Improvement Program
Project ACP-3 “Amherst Central Park Focus Area 3: New Theater”
MAP, PLAN & REPORT
March 2024
Contents:
• Background
• Location
• Project Description and Improvements
• Project Justification
• Anticipated Project Schedule
• Financial Summary
• Taxation Summary
• SEQR Determination
Prepared by:
Town of Amherst
Facilities Department
5583 Main Street, Williamsville, NY 14221
(716) 631 – 7080 | (716) 631 – 7109
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Map, Plan & Report
Background
Amherst Central Park, formerly known as Westwood Country Club, is an improved property of
approximately 170 acres located at 772 North Forest Road. The property includes an existing clubhouse
building and other ancillary structures, along with natural and manmade site features related to its use as a
former golf course.
The Town of Amherst plans to develop the southern portion of Amherst Central Park through several
projects as identified in the approved 2024 – 2029 Capital Improvement Program.
One of these projects is identified as “ACP-3: Amherst Central Park Focus Area 3”, allocated to develop a
new Town theater building, as shown below.
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Map, Plan & Report
Location
The core area of the Amherst Central Park parcel is 772 N. Forest Road, Buffalo NY. SBL: 68.01-1-1.2.
Figure 1 - Project Location – Amherst Central Park
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Map, Plan & Report
Figure 2 - Project Location – Amherst Central Park – Southern End
Project Description and Improvements

The project includes the development of a theater building at Amherst Central Park. The theater building
will include spaces for theatrical performances, such as plays, and musicals. The theater will also include a
cabaret space with a small stage for musicians or comedians, and can also be used as event space. Back-
of-house spaces include dressing rooms, costume shop and scenery shop.
A lease agreement with MusicalFare Theater Company was approved by the Town Board on February 26,
2024, for a non-exclusive term of 30 years, with an annual rate of $1.00. MusicalFare will also contribute
1/3 of the estimated $10 million in construction costs, with $2 million or more to be paid prior to or upon
taking possession of the building, $500,000 or more to be paid upon within one year of possession of the
building, with the balance to be paid over the next 9 years.
Project Justification
The project enhances the cultural value of Amherst Central Park as a way to bring people of the community
together and into the park. Historically, theaters and performative art buildings are places of knowledge and
understanding. Residents will benefit from having access to a theater within their town. The Town will also
be able to use the theater for town-related purposes, including but not limited to hosting meetings.
Anticipated Project Schedule
Bond Action: March 2024

Construction: September 2024 thru August 2025
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Map, Plan & Report
Financial Summary
Funding is identified in the approved 2024-2029 Capital Improvement Program under Project ACP-3, for a
total of $11,000,000. The funds have been identified as a General Fund Bond with a minimum useful life of
25 years.
Construction $10,000,000.00
Contingency $945,000.00
Legal/Admin $55,000.00
Total Project Cost $11,000,000.00
Less: MusicalFare Contribution ($3,333,333.33)
Town Cost $7,666,666.66
It is anticipated that $5 million will be borrowed in 2024 ($4 million long-term and $1 million short-term) and
$6 million will be borrowed in 2025 ($4.5 million long-term and $1.5 million short-term), with funds being
recouped from MusicalFare as previously outlined, and a total long-term borrowing of $8,500,000.00. If
MusicalFare reimburses the Town above the minimums described, the long-term borrowing will be
decreased.
Taxation Summary
2024 Long-Term Bond Request $4,000,000 (General Fund)

Bond Term 25 Years
Annual Tax Impact $0.0147 per $1,000 of AV at 100% Equal.
Typical Property Annual Impact $4.4249 per $300,000 property at 100% Equal.
2025 Long-Term Bond Request $4,500,000 (General Fund)

Bond Term 25 Years
Annual Tax Impact $0.0166 per $1,000 of AV at 100% Equal.
2024 Short-Term Bond Request* $1,000,000 (General Fund)

Bond Term 1-2 Years
Annual Tax Impact $0.0023 per $1,000 AV at 100% Equal.
2025 Short-Term Bond Request* $1,500,000 (General Fund)

Bond Term 1-2 Years
Annual Tax Impact $0.0035 per $1,000 AV at 100% Equal.
*Principal will be reimbursed through MusicalFare lease agreement; only interest is considered in the
taxation summary.
SEQR Determination
See attached SEQR Memo from the Town of Amherst Planning Department.
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Amherst Central Park Focus Area 3 MusicalFare

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13.A.1.

Figure 1 - Project Location – Amherst Central Park

Project Description and Improvements

Bond Action: March 2024

2024 Long-Term Bond Request $4,000,000 (General Fund)

2025 Long-Term Bond Request $4,500,000 (General Fund)

2024 Short-Term Bond Request* $1,000,000 (General Fund)

2025 Short-Term Bond Request* $1,500,000 (General Fund)

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