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TO: <br /> <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br /> MEMORANDUM <br /> <br />Mayor and City Council <br /> <br />Pat Klaers, City Administrator <br /> <br />September 24, 2001 <br /> <br />Small Theater Funding <br /> <br />Item ~ 4.3. <br /> <br />The city has recently agreed to pay the school district $112,600 per year for 5 years in order to <br />ensure that the small theater is preserved and made available for community use. <br /> <br />After the Council decision on this issue, I advised Dr. Jensen that the staff recommendation <br />for the 2001 payment would be to use growth related revenues (building and plumbing <br />permits and plan check fees) that are in excess of the budgeted amount. I stated that payment <br />could be made around Thanksgiving when more information is available regarding 2001 <br />revenues and expenditures. Dr. Jensen indicated that he was "ok" with what I was proposing <br />and that his main concern for the school district is in the third year of the payment plan, as all <br />of the current bond funds will have been spent. <br /> <br />Regarding the 2002 and 2003 payments, it is recommended that the city use NSP funds for <br />these obligations. (This assumes that growth revenues will not exceed the budget projection.) <br />The city receives approximately $220,000 per year (through 2009) from NSP for being the <br />home of the RDF operation. About half of these funds have been dedicated to the current <br />City Hall debt payment plan and the other half has been used for park land purchases, <br />improvements to athletic fields, and for land at City Hall. For the past few years, the city has <br />not spent very much of the NSP reserve. In general, the city has been trying to build up this <br />reserve for either a series of smaller improvements or a larger scale project. <br /> <br />For the 2004 and 2005 payments, staff has no recommendation at this time. Levy limits are <br />scheduled to end in 2003 so the City Council can evaluate during the budget process whether <br />or not a tax levy should be considered for making the 2004-05 payments. If the tax levy is not <br />pursued then we can discuss using additional NSP funds or other reserves as available. <br /> <br />There is no word yet on thc formation of a committee to review the use and scheduling of the <br />school theaters and meeting room space. <br /> <br /> <br />