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r-c,/ <br /> Item # 10.C.3. <br /> • 4 . <br /> City of MEMORANDUM <br /> Elk ,, River <br /> TO: Park and Recreation Commission <br /> FROM: Michele McPherso , irector of Planning <br /> DATE: September 13, 2000 <br /> SUBJECT: Draft 10-Year CIP Budget, Revised <br /> Attached please find the revised 10-year capital improvements budget. I have prepared <br /> an estimated revenue projection which is attached as page three of the budget. Please <br /> be aware of the following assumptions: <br /> 1. The revenue budget assumes no acquisition of land, that all park dedication will <br /> be obtained in fees. <br /> 2. The revenues estimate an annual five percent increase in residential fees, <br /> rounded up or down to the nearest round number. Commercial and industrial <br /> • fees are estimated to increase five percent every third year, again rounded up or <br /> down to the nearest round number. <br /> 3. The budget proposes to spend $65,000 per year. <br /> 4. There is a line item but no amounts identified for land acquisition. <br /> Please review the attached budget and make any recommended changes, or provide <br /> any comments to staff. <br /> • <br /> S:\PLANNING\M I C H MC\PARKN REC\C I P BU DGT.DOC <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD & Phone (763) 441-7420 • Fax(763) 441-7425 <br />