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<br />Appraised value of the 7.8 acres of golf course property at $22,500 per acre for a total of 175,500 <br /> <br />Park Dedication Fund Balance <br />Last DNR Grant reimbursement payment <br />Balance due on downtown park <br />Installment payment on Alba Ridge Park <br />Retained from 2006 Park projects <br />Funds available in 2007 <br /> <br />$ 761,422 <br />40,000 <br />(396,000) <br />(78,000) <br />(69,514) <br />$ 257,908 <br /> <br />Attachments <br />· Malmstrom property location <br />· Malmstrom property park concept <br />· Golf course property <br />· Park system and trail master plan excerpt <br />· Park dedication revenue forecast <br /> <br />Action Requested <br />Authorize purchase of the 18 acre Malmstrom property for $495,000. With payments of $165,000 in <br />2007,2008 and 2009. Evaluate mid-year as to whether upcoming park dedication fees will be adequate to <br />fund a purchase of the golf course property. <br /> <br />Council Action <br /> <br />Motion by _ <br /> <br />Second by _ <br /> <br />Vote <br /> <br />Follow Up <br /> <br />C: \Documents and Settings \ tallard\Local Settings \ Temporary Internet Files \ OLKF\Request Council Action 6 I.doc <br />