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<br />ElkRiver RecreaTion <br /> <br />7888851155 <br /> <br />08/02/08 02:52P P.002 <br /> <br />TO: <br />FROM: <br />SUBJECT: <br />DATE: <br /> <br />Elk River City Council and Mayor <br />Dawn Polston-Hork, Chair of Elk River Parks and Recreation Commission <br />Acquisition of Pine wood Golf Course by City of Elk River <br />Feb. 13,2006 <br /> <br />The Park and Recreation Commission is supportive of the acquisition of the <br />Pinewood Golf Course. The Commission is not supportive of paying the entire cost <br />out of park dedication funds. The Commission requests that the Council consider the <br />following points: <br /> <br />1. Current projections show that the Park Dedication Fund may grow by 6 <br />million dollars over the next 7 yean. Of this amount, 52.3 million in <br />principle and interest payments are slated to pay for Pinewood, or <br />approximately 38% ortbe projected growth. <br />2. Park and Recreation staff have been highly sllccessful in leveraging <br />additional funds at an average of 3 dollars for every dollar paid from Park <br />Dedication Funds. The 52.3 million payout for Pinewood represents a <br />potential additional loss of 54.6 million from other (non-City) sources for <br />park improvements and additional land acquisitions. <br />3. The Council sbould, if it bas not already done so, check the legality of using <br />Dedication funds to purchase land whicb it may sdl for a non-park related <br />purpose at a later time. H Pinewood is sold at a later time, will all Dedication <br />funds spent on the project be paid back to the Park Dedication account.? <br />4. The Commission is not opposed to using some park dedication assuming <br />that the payments are in line with rates paid for recent park land purchases. . ~ <br />5. The Commission is aware that there are other costs related to upgrading <br />Pinewood such as remodeling tbe club bouse, upgrading equipment, <br />upgrading tbe irrigation system, and improving landscaping tbat will require <br />hundreds of thousands of additional doUan. The Commission is not <br />supportive of paying these additional costs from Park Dedication Funds. <br /> <br />In summary, the Commission is not opposed to the purchase of Pinewood. It does <br />bave many questions about the long-range implications of the purchase and feels <br />compelled to bring these concerns to the attention of tbe Council. IS- <br />\ <br /> <br />-- <br />