04-10-2006 CC MIN - Laserfiche WebLink

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City Council Minutes April 10, 2006 Page 4 Ms. Johnson explained that the RDF Plant payment in lieu of taxes has paid for part of the city hall property; in addition, $20,000 was used for the Youth Athletic Complex, $47,000 for Lions Park Center remodeling, $344,000 for the Ice Arena, and $338,000 for the school theatre. Further, this payment in lieu of taxes has funded about $831,000 in city hall debt and $474,000 of transfers to the General Fund. She indicated that recreational purposes have been one of the main focuses of this reserve fund. . She distributed information on funding sources. Councilmember Farber asked the commissioners their stance on payments. Commissioner Nystrom stated that they can see this as a recreational activity but that council has to be careful about expending too may funds in one spot. He stated that the commission had talked at length and thought that about $600,000 could be used for this purpose. Councilmember Dietz inquired of Bill Maertz what this would do to his budget for this year if the $390,000 that was paid on Thursday had to come from his budget - what would be the balance in the Park Dedication fund. Mr. Maertz stated that there is no Park Dedication budget and that his Park balance was about $1.7 million; approved improvements for this year is $1.2 million and then $195,000 was added to do the trail and tunnel under CR 33. Ms. Johnson indicated that as of the beginning of March there was about $115,000 and that additional park dedication fees have been received since then, but there was not enough to cover the full $300,000 for the initial down payment. . Councilmember Dietz clarified that in the RDF funds there is $714,000 and the city will receive approximately $300,000 each year through 2009. Ms. Johnson stated that half of those funds are designated for the payment of the city hall debt and that there is $450,000 that will be received through 2009 that is undesignated. The $450,000 is in addition to the $714,000 in the fund now that is undesignated. Councilmember Dietz stated that he feels we should pay for this with one-half out of Park Dedication funds and one-half out of RDF money since the Park Dedication Fund has so much money already committed for this year. He stated that the $390,000 that was already paid should come out of the RDF money for this year. Councilmember Gumphrey inquired as to future improvements needed and the funding source. Mr. Maertz indicated that the budget included $15,000 for improvements to the Clubhouse; and, equipment can be leased and come out of the Pinewood budget. He stated that due to the nature of the lease, the city cannot do any major improvements on the course or Clubhouse for two years. Maintenance will need to come out of a reserve fund. Commissioner Polston-Hork explained that the commissioners had a concern if the land needs to be sold and Park Dedication funds were used as to what happens. .