8.0. SR 11-25-1996 - Laserfiche WebLink

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Budget Worksession Memo November 25, 1996 Page 7 of the project. This $140,000 balance will be needed in 1997 as the project moves forward. It is recommended that the city sell the 14 acre lot that is being platted along Jarvis Street for part of this expense. The remaining unfunded cost for the fields, estimated to be under $100,000, can come from the 1997 NSP contribution to the city. As noted above, $60,000 of this NSP contribution will be recaptured from the youth organizations over the next six years. Additionally, if more lots are sold, this revenue can also go back into the NSP fund. This NSP fund was also the source of money for the acquisition of the land (approximately $220,000). In summary, for the development of the Cass fields, it is recommended that the city use $60,000 from city park dedication monies, sell a residential lot for more than $40,000, and use NSP funding of approximately $100,000. Contributions from youth organizations for these fields will go back into the NSP fund. Staff hopes that the City Council can balance the proposed 1997 budget at this 11/25/96 worksession and that we will be able to address a number of other financial and personnel related issues at this worksession. It should be noted that the final budget numbers are being put together only a few days before the Truth in Taxation public hearing. Accordingly, very little narrative information will be available by the December 2, 1996, public hearing. All of the data and budget figures will be available for public review, but the narrative explaining each department, the changes from 1996, and anything else about the departmental activities will not be available.