12-02-2020 Park Board Packet - Laserfiche WebLink

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XC sEk CITY 0 + IN KE '4 RT Memorandum To ; Mayor and. City Council From: Rick DeGardner, Public Services Director Sarah Cotton, Finance Director .Date: May 11 , 2018 Re: Comprehensive Parks and Trails System Plan Attached is the Comprehensive Parks and Trails System Plan that was referred to at Monday' s City Council work session during the Park Board Recommendation of 2018 Parks and Trails Capital Projects agenda item. During .the November 6, 2017 work session, Council directed staff to prepare a comprehensive park and trail repair or replacement plan for council consideration. The attached plan was presented to the City Council during the December 4, 2017 City Council work session. The relevant minutes are attached. Sheet 1 - Existing Park Assets Worksheet - Identifies all existing assets within each individual park. The worksheet provides information for each individual asset including the year installed, useful .life, estimated replacement cost, and projected year of replacement. Approximately $ 1 , 136 , 000 of existing assets are identified as either past due or scheduled for replacement through 2020 . This results in a somewhat unrealistic investment in the short term. Therefore, the summary sheet provides options regarding the annual investment required to fully fund the existing parks assets by the years 2025, 2030, 2035 , 2040, and 2045 . If the City Council determined that ten years was the goal to get .caught up with replacing existing assets , the estimated annual investment needed to keep pace with the replacement schedule is $244, 500 . Sheet 2 — New Assets of Existing Parks Worksheet - Identifies the estimated costs to complete the neighborhood parks system per the master plan of each park. The summary sheet provides the annual investment required to fully fund the new assets of existing parks by the years 2025 , 203% 2035 ) 2040, and 2045 .