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City Council Minutes December 5, 2005 Page 4 Ms. Johnson indicated that Police Chief Jeffrey Beahen is on the Boys and. Girls Club Board of Directors and would like to speak to the Council on this request but he was unable to attend tonight's meeting. Ms. Johnson noted that Boys and Girls Club Executive Director Duane Howard was also planning on attending the meeting but is not present. She indicated that the Council may either consider the request or chose to postpone discussions until Mr. Howard and Mr. Beahen are present. . MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY COUNCILMEMBER FARBER TO CONTINUE THE BOYS AND GIRLS CLUB REQUEST FOR FUNDING TO THE DECEMBER 19, 2005 CITY COUNCIL MEETING. MOTION CARRIED 5-0. 6.3. Elected Official Out of State Travel Policy Finance and Administrative Services Director Lori Johnson indicated that pursuant to Minnesota State Statute ~471.661, each statutory city must develop a travel policy for elected officials and review this policy annually. Ms. Johnson stated that the proposed policy is similar to the city's current employee travel policy. MOVED BY COUNCILMEMBER MOTIN AND SECONDED BY COUNCILMEMBER DIETZ TO ADOPT RESOLUTION 05-130 APPROVING THE ELECTED OFFICIAL OUT-OF-STATE TRAVEL POLICY. MOTION CARRIED 5-0. 6.4. Pinewood Appraisal Presentation . Finance and Administrative Services Director/Interim City Administrator Lori Johnson indicated that Mr. McMurchie was in attendance to present an analysis of market and financial factors for Pinewood Golf Course as prepared by McMurchie Golf Management, Inc. AI McMurchie, McMurchie Golf Management, Inc. - indicated d1at he has been retained by the city to provide an analysis of the existing golf course operation and the dynamics of a potential acquisition of Pinewood Golf Course. Mr. McMurchie explained that based upon his analysis, the condition of the golf course is rated good He stated that the size of the course, condition of the buildings, out-dated maintenance equipment, and close proximity of residential houses contribute to the limitations of the course. Mr. McMurchie stated that from a market standpoint, supply and demand factors have caused a parallel downturn in the golf market in recent years. Mr. McMurchie indicated that Pinewood is a community golf course and not one that people will drive a distance to play. He noted that the course could be expected to make a marginal profit annually. Mr. McMurchie noted that there was no past financial history or records available for comparison purposes. Mr. McMurchie explained that based on his findings, a supportable purchase price for Pinewood Golf Course would be $375,000. He stated that in addition to the supportable purchase price of $375,000, there would be an additional $175,000 of equipment replacement and property improvements that would be necessary in the next three-year period. Mr. McMurchie also explained that a viable replacement cost for a golf course of similar size and scope would be approximately $3.2 million which would include a driving range. .