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Capital Improvement Plan <br />City of Elk River, Minnesota <br />Project # pF-90 <br />Project Name Land Acquisition <br />Type Land <br />Useful Life Unlimited <br />Category Land <br />Description <br />?006 - Barsody Property <br />?006 -Pinewood Golf Course <br />?007 -Malmstrom Property <br />2008 thru 2012 <br />Priority 3Important <br />Contact Park & Rec. Director <br />Department Park Development & Improve <br />Justification <br />Che Malmstrom property is a key parcel that connects the 360 acre Woodland Trails Park to the east, creating access <br />prom the Brentwood, Ridgewood and Lafayette Woods neighborhoods. This parcel has been a park target in the park <br />vaster plan since 1989. <br />Expenditures 2008 2009 2010 2011 2012 Total <br />Land Acquisition 273,542 265,295 238,048 175,412 1,590,000 2,542,297 <br />Total <br />Funding Sources 273,542 <br />2008 265,295 <br />2009 238,048 <br />2010 175,412 <br />2011 1,590,000 <br />2012 2,542,297 <br />Total <br />Park Dedication <br />RDF Payment in Lieu of Tax R 228,542 <br />45,000 220,295 <br />45,000 193,048 <br />45,000 130,412 <br />45,000 795,000 <br />795,000 1,567,297 <br />975,000 <br />'j'otgl 273,542 265,295 238,048 175,412 1,590,000 2,542,297 <br />Page 1 <br />