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ver <br />MEMORANDUM <br />TO: Parks and Recreation Commission <br />FROM: Bill Maertz, Parks and Recreation Director <br />DATE: November 8, 2006 <br />SUBJECT: 2007 Parks Capital Budget <br />2007 PARKS CAPITAL IMPROVEMENT BUDGET OPTIONS <br />PROJECT EST. COST <br />Barsody Payment 78,000 <br />Malmstrom Pro erty 485,000 <br />18 Acres Country Club Property 405,000 <br />Park System Master Plan Update 40,000 <br />Twin Lakes Elementary Play round 50,000 <br />Grant Matching Funds for Hillside park 100,000 <br />Grant Matching Funds for Babcock to Downtown trail 125,000 <br />Tree Planting 20,000 <br />Park Signs 15,000 <br />Total 1,318,000 <br />Carry Over from 2006 CIP <br />Seal Basketball Court Kliever Lake Fields 2,200 <br />Rivers Edge Commons 582,000 <br />Total 584,200 <br />A conservative estimate projects there will be approximately $550,000 available for <br />capital projects in 2007. This is a function of the slowdown in residential real estate sales, <br />see attached memo. <br />In addition to these projects, be advised that it will be necessary to bank $166,000 per <br />year unti12012 to pay the balloon payment on Pinewood Golf Course. This leaves a total <br />of $384,000 for capital spending in 2007. Both the Malmstrom family and the Country <br />Club Board have indicate a willingness to receive payments over several years. <br />