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Development Fund (City) <br />The City's development fund has a cash balance of $375,820 as of 09/30/2011. This fund <br />has been used for development purposes (Northstar Business Park) in prior years and it was <br />identified to fund the 171St Focused Area Study environmental review and preliminary <br />engineering for Phase I. The primary revenues are any conduit bonding administrative fees <br />and the tax abatement repayments for economic development projects. <br />Other items to consider <br />• The expansion fee is currently allocated 85% government building and 15% street <br />improvement reserve. The Council may want to consider reallocating the percentage <br />to 100% government building as we reviewed last month. The Council can change <br />the percentage at any time, but we will review the fund on annual updates of the <br />CIP. <br />• The complete copy of the CIP will be put together for Council review prior to action <br />in December. <br />N:\Public Bodies\City Council\Council RCA\Agenda Packet\11-07-2011\2012-201GCIPupdate110711[1].doc <br />