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Eclty1� ,.,�� Request for Action <br /> River <br /> To Item Number <br /> Mayor and City Council 4.10 <br /> Agenda Section Meeting Date Prepared by <br /> Consent Aril 3, 2017 Lori Ziemer, Finance Director <br /> Item Description Reviewed by <br /> Pinewood Golf Course Start Up Funds Cal Portner, City Administrator <br /> Reviewed by <br /> Action Requested <br /> Approve,by motion,funding for the startup of Pinewood Golf Course operations and internal loan <br /> resolution. <br /> Background/Discussion <br /> On March 6,2017, the City Council approved the management agreement with Elk River Country Club <br /> for the operations of Pinewood Golf Course through December 31, 2018. <br /> In preparation for the 2017 golf season, Elk River Country Club has requested $20,000 of startup funds <br /> for the prepping and maintenance of the course and facilities. <br /> Financial Impact <br /> It is proposed to cover these startup funds with an internal loan from the GRE Reserve Fund,with the <br /> anticipation that the funds will be repaid from Pinewood Golf Course operations at the end of the 2017 <br /> season. <br /> Attachments <br /> ■ Interfund Loan Resolution <br /> POWERED 6T <br /> Template Updoted 4/14 INAWRE1 <br />