Laserfiche WebLink
As noted, this proposal calls for initial city funding of $200,000 ($73,000 in <br />1996 and $127,000 in 1997). Typical funding for recreation projects includes <br />park dedication funds, annual budget allotments to the park department, <br />and various reserve funds. The park dedication fund has a fund balance <br />after encumbrances of approximately $75,000. Park reserves in the amount <br />of $50,000 are available in the equipment and capital outlay reserve. <br />However, if these funds are used for this project, funds would not be <br />available for the other park development including the annual park capital <br />outlay improvements of approximately $25,000. <br /> <br />Representatives from the Park and Recreation Commission, Phil Hals and I <br />will be present to discuss this issue in more detail on Monday. If, after <br />discussion, the council wants to proceed with this project as proposed by the <br />Park and Recreation Commission, staff will review options on financing the <br />$120,000 city contribution and the $80,000 cost to be repaid over time and <br />present detailed financing information at an upcoming Council meeting. <br /> <br /> <br />