8. PRSR 11-13-2013 - Laserfiche WebLink

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Bond issue proceeds will also be used to enhance and expand the city's trail system, including the Coon Creek Regional Trail, Sand Creek Linkage Trail, 85th Avenue trail connection to Kennedy Park, Mississippi Regional Trail, middle and northern linkage trails and filling gaps on other trails. With passage of the referendum, detailed plans for each park to be improved will be prepared by WSB, the consultant the council hired to develop the updated master plan. These plans will be presented at neighborhood meetings for residents living in the areas of the parks where construction will take place to give their views. But that won't be necessary for Riverview Park, which means reconstruction of that park could begin next year, according to City Manager Steve Gatlin. A master plan was completed for the redevelopment of Riverview and a neighborhood meeting took place in 2011, but the council shelved the project because of lack of funds and first talks of having a referendum began, which prompted the updated master plan for all city parks and trails to be ordered. The complete renovation of Sand Creek Park, the city's largest park, is also expected to be one of the first projects to go forward with the park bond issue proceeds, Gatlin said. According to the information brochure distributed by the city, the 20-year bond issue tax increase impact on residential, commercial and apartment property owners of the referendum is projected as follows: • Home valued at $125,000, monthly increase $2.73 and $32.75 yearly. • Home valued at $150,000, $348 a month increase, $41.77 a year. • Home valued at $200,000, monthly increase $4.98 and $59.80 a year. • Home valued at $300,000, increase of $7.99 a month, $95.85 a year. • Commercial property valued at $300,000, $8.77 increase a month, $10526 a year. • Commercial property valued at $500,000, monthly tax increase of $1545, for the year $18546. • Commercial property valued at $1 million, monthly increase $32.16 with a $385.96 annual hike. •Apartment building valued at $500,000, the monthly increase would be $1723 with $206.75 annually. Peter Bodley is at peter.bodley @ecm-inc.com