02-18-1991 CC MIN - SPECIAL - Laserfiche WebLink

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City Council CIP Minutes February 18, 1991 Page 3 . may be available for large park expenditures, such as matching funds for a LAWCON Grant, park land purchases or park land improvements. LiQuor Store Funds - The City Council reviewed the fund balance at the Liquor Store, the Liquor Store bui lding reserve for a future westbound facility and the amount of funds annually available for needed capital improvements. It was noted that approximately $25,000-$30,000 may be available on an annual basis to help finance a new City Hall/Police facility. It was also noted that the Liquor Store annually transfers approximately $100,000 to the General Fund for the Fire Hall project and general City activities. Part of a fund balance of approximately $500,000 is also available for a large scale project which may not even be identified at this time. Library Expansion - The City Council noted that the Library expansion may be necessary before 1994 and available funding from the Landf i 11 surcharge will not be sufficient for this project. If contributions from citizens or the community foundation are not available, then it may be necessary to utilize some NSP funds or Liquor Store funds (from the fund balance) for this project. . Parks - The City Council noted that Park Dedication funds are used annually for minor park improvements and that General Fund monies are annually allocated for park and recreation purposes through the municipal budgeting process. The Council discussed the need and its support to provide adequate financing for necessary park improvements as this was high priority within the community. The Council indicated no commitment to designate NSP funds for park activities, but that it would consider requests from the Park and Recreation Commission for use of these funds on a case-by-case basis. The Counci 1 noted that some Liquor Store Reserve funds, some Capital Projects funds, and potentially some TIF funds may also be available for specific Park and Recreation requests. The Council discussed the potential for a future bond referendum in order to adequately provide necessary Park and Recreation facilities for the future of the community. City Hall/Police Facility - The City Council reviewed finances for a future City Hall/Police facility. The Council noted that it may be possible to have approximately $200,000 available in the early stages of financing this project and approximately $300,000 available in the later stages of financing this project. It was anticipated that the project would be financed over a 15-20 year period. Available finances for the project include RDF funds ($85,000), Landfill funds ($65,000), Liquor Store funds ($25,000), and General fund monies after the City moves out of its current facility ($25,000). The sources equal $200,000 per year. Additional finances include more Liquor Store funds once the Fire Department expansion has been paid I more General fund finances once the public works building project expansion has been paid, and possibly additional RDF or Landfill monies. . Fillmore Street Project The City Council reviewed the need to assess out part of this project to the henefi ted property owners and that the level of assessment should be kept near the $2,000 amount as this is an appropriate amount for benefited property owners to pay for