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2. Provide high quality park facilities and improvements. The li park facilities must be well designed, attractive, functional and durable. The residents must view the park system as a valuable community asset that improves the quality of life and preserves the character of landscape and open space that attracts them to the area. 3. Maintenance and operation of the park system must be a high priority of the city. The residents must have confidence that their investment in the park and recreation system will be money well spent and will continue to serve them in the future. 4. All avenues of funding for the park and recreation system must be pursued. Although most of the funding must come indirectly from the residents, the various grant programs that are available can help to stretch the local burden. POTENTIAL FINANCIAL SOURCES The following potential financial sources should be pursued in order to provide the funding necessary to proceed with implementation of the Master Park and Recreation Plan: 1116 1. Capital Improvements Budget The Capital Improvements Budget of the City of Elk River will continue to be an important source of funds for park improvements. These funds, while determined on a yearly basis, should be planned or estimated on a five year basis. The city should have a Five Year Parks Capital Improvements Plan which is set up primarily to fund improvements to existing parks. 2. Park Dedication Fund The Park Dedication Fund of the City of Elk River will continue to be an important source of funds for park land acquisition. The fee structure should periodically be reviewed and updated. Although this Fund can be used for both capital improvements and land acquisition it is generally believed to be good policy to build this fund for major land acquisition needs for which bonding might be the only other potential source of funds. Ill 114