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Item # 9.C.3. <br />rover <br />MEMORANDUM <br />TO: Park and Recreation Commission <br />FROM: Michele McPhers~,~irector of Planning <br />DATE: February I I, 2004 <br />SUBJECT: Capital Improvements Budget <br />Attachments <br />• Ten-year CIP Budget <br />• CIP Revenue Calculations <br />• Park Development Sheets <br />• Highlands East and West Correspondence <br />• Highlands East and West Plan <br />• Approved 2004 CIP Budget <br />Historical Overview <br />The Park and Recreation Commission has been reviewing aten-year Capital Improvements <br />Budget since July of 2000. This Capital Improvements Budget is an attempt to project <br />outward ten years into the future, projected revenue and expenditures for park system <br />development. The ten-year CIP is updated annually with actual revenues and expenses in <br />order to see the impact on the ultimate balance in the Park Dedication Fund. <br />The projects listed in the Capital Improvements Budget are based on the park development <br />tracking forms developed in 1998 and 1999. Each park has a park development tracking <br />form, which is based on an approved park development plan. Park development plans have <br />been typically developed with assistance by affected neighborhoods and approved by the <br />Park and Recreation Commission. These park development tracking forms were last <br />reviewed by a subcommittee of the Commission in 2002. The subcommittee identified that <br />priority of time for projects to be completed and those have been translated into estimated <br />times in the Capital Improvements Budget. <br />