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Lino Lakes Parks and Recreation Department 600 Town Center Parkway Lino Lakes, MN 55014 (651) 982 -2440 Fax (651) 982 -2439 November 21, 2001 TO: Mayor Bergeson and City Council Members FROM: Rick DeGardner, Public Services Director SUBJECT: Possible Spring 2002 Referendum At the November Park Board meeting, it was the consensus of the park board members to recommend to the City Council that a referendum be pursued next Spring. Attached are the relevant minutes from the November 5, 2001 Park Board meeting. For planning purposes, I have prepared a possible referendum scenario that consists of development of the athletic complex, neighborhood park improvements, and the development of trails. Assuming a referendum is pursued, a committee would evaluate and determine what specific projects /items would be included in the referendum. • As you recall, $1 M needs to be included in the referendum to reimburse the Area and Unit Fund for acquisition of the 67 acres. The core facility development amounts to $3,450,000 which includes site removals and grading, roadways, parking lots, main trails, irrigation, fencing, seeding, site amenities, etc. In addition to the core facility development items, I have indicated the items I feel are necessary and should be included in construction of the athletic complex. This results in a total development cost of $5,827,200. • The possible referendum scenario also includes $975,000 for neighborhood park improvements and $484,500 for the development of trails. This results in a total referendum amount of $8,286,700. Based on the attached referendum scenario, I think it would be difficult to pursue a referendum for less than $8M. It is important to commit a substantial amount of dollars to develop new neighborhood parks and enhance existing parks. The trails identified in the possible referendum scenario are important trail connections and would provide additional support for residents who would not necessarily utilize an athletic complex. Below is a schedule of estimated annual tax impact for a bond referendum of $7.5M and $8.5M, spread over 20 years. The monthly amounts are in parenthesis. As additional residential and commercial development occurs, the annual tax impact for individual propert y owners will steadily decrease. Assessed Value $7,500,000 $8,500,000 $125,000 $80($6.67) $91($7.58) $150,000 $96($8.00) $109(9.08) $175,000 $112($9.33) $127($10.58) $200,000 $128($10.67) $145($12.08) $350,000 $224($18.67) $254($21.17)