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Arena Commission Minutes Page 4 <br />August 21, 2018 <br />----------------------------- <br /> <br /> Commissioner Westgaard (referring to the ending fund balance on the financial <br />report) that it should be discussed with City Administrator Cal Portner how the City <br />intends to pay for repairs and improvements that even a newly renovated facility will <br />need over the next 30 years? He suggests the Arena Commission should put forth a <br />recommendation to put a portion of user fees into a sinking fund so that there <br />wouldn’t need to be a levee in the future. Currently, many city projects have been <br />funded by the power plant, landfill and gravel mining, however those revenue <br />sources won’t be available forever. <br /> <br /> Arena Manager Czech inquires if the existing balance will roll over? <br /> <br /> Commissioner Westgaard replies yes, however it doesn’t build fast enough. He <br />suggests using lease money to create an enterprise fund, adding 40% of the profit <br />from the liquor stores goes to parks – and the turf alone will need to be replaced <br />every 7-10 years. <br /> <br /> Commissioner Madsen expresses concern that if a fund was set up, that the money <br />would be taken for other projects instead. <br /> <br /> Commissioner Westgaard adds it would need to be set up as a specific enterprise <br />fund. <br /> <br /> Chair Givens asks if the arena has averaged approx. $100,000/year in profit since the <br />debt service has been paid off. <br /> <br /> Arena Manager Czech replies yes, give or take depending on what maintenance has <br />needed to be done, and adds he will set up a meeting with City Administrator Cal <br />Portner and Parks and Recreation Director Michael Hecker. <br /> <br /> Chair Givens asks for a report at the next meeting which is scheduled for April 16, <br />2019 and inquires if we will want a special meeting after the election in November? <br /> <br /> Commissioner Westgaard replies after the election there will be a task force set up <br />which should include an arena commission representative. The last task force <br />included Commissioner Williams, Arena Manager Rich Czech and Commissioner <br />Westgaard. <br /> <br /> Vice Chair Balabon and Chair Givens express interest in being on the task force. <br /> <br /> Commissioner Ballenger inquires what the commission can and should be doing to <br />help get the word out to the public, and what the strategy is as well as the message. <br /> <br /> Commissioner Westgaard replies the firm that was hired will help give direction. <br /> <br />9. Announcements <br /> <br />10. Date of next Arena Commission Meeting