06/01/1998 Park Board Packet - Laserfiche WebLink

Home Search

MINUTES MARCH 30, 1998 ^ A map of the Village development plan was displayed. Brian reviewed the history of the land acquisition in the"Village" (Schedule"C"). He estimated that the land will be paid about two (2) years ahead of schedule. Brian reviewed the Civic Complex Budget (Schedule "D") and the funding schedule (Schedule`E"). Mary Vaske explained each fund balance and noted that the balances could be used for the civic complex. Kim noted that it appeared that the fund balances would be depleted if used for the civic complex. She asked what is the potential for rebuilding these funds. Mary explained that the Closed Bond Fund will always collect the undesignated balances from bond issues that are paid before all of the assessments are collected. The Apollo Drive Construction Fund would be eliminated if used for the civic complex. Chris noted that the dollars in the Area and Unit Fund and the Surface Water Management Fund need to be spent in a conservative manner. Mary explained that she does have the definition of each of these funds and the proposed use of these funds for the civic complex are legitimate uses. John noted that EDAAB had discussed creating a fund that would be recycled money rather than just spent with no return. It would be a fund built of dollars generated by development and used for development. Caroline noted that if the proposed expenditure from the Surface Water Management Fund is allowed,the balance of the fund would be very low. She asked if it was legal to take money from this fund to use for something else. Mary explained that she does have the definition of this fund and what it can be used for. Caroline noted that funds were designated to be used from the Sewer and Water Operation Fund. She asked what would happen if a new water tower was needed and there was not enough money in the fund to pay the cost. Mary explained. John noted that the purpose of this fund was to maintain the sewer and water infrastructure. YMCA - Brian presented the YMCA(Y)proposal. Chris asked if the City is committed to this project. Brian explained that he and Mary Alice were asked to explore the potential for this project. Mary Alice reviewed the material presented at the March 16th meeting (Schedule "F"and"G"). She noted the Y survey and said that this was a strong reason to continue talking with the Y. Chris said that it appears that the City will fund half the cost of the facility and asked if the City would be given half of the revenues?He also asked why the City couldn't just offer the land. He noted that the City does not have a park system and parents will do anything for their kids and if the Y is the only thing available, parents will go for it. Mary Alice presented the funding strategy for the Y. She noted that the Y is doing an in- house study to determine how much they could realize in fund raising. She reviewed .-� reasons why the City should contribute to the building of the Y. Mary Alice also outlined the cost savings on membership for Lino Lakes residents(Schedule"H"). Chris said that PAGE 3