11/05/2001 Park Board Packet - Laserfiche WebLink

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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 9B. October 30, 2001 TO: Park Board Members FROM: Rick DeGardner, Public Services Director SUBJECT: Referendum Update Attached is a schedule of estimated tax impact for a bond referendum of $7.5M and $8.5M, spread over 15 years and 20 years. I have also prepared a possible referendum scenario, which would consist of the athletic complex, neighborhood park improvements, and development of trails. As you recall, $1M 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. The schematic design cost estimate, including add on facility development items as well as add on premium level development items for completed development of the athletic complex amounts to $7.3M. I have indicated the development items I feel 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 $469,500 for the development of trails. This results in a total referendum amount of $8,271,700. In analyzing the estimate tax impact numbers, I am still concerned on the significant tax impact to residential property owners. For example, for a $8.5M referendum issued for 20 years, a house valued at $200,000 will be assessed $145 ($12.08 per month). I am not sure if a majority of residents in Lino Lakes would support such an increase. 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 utilize an athletic complex. I am looking for feedback from the Park Board Members. I intend to discuss this subject with the City Council next month since the City Council needs to make a final determination whether to pursue a bond referendum next spring. RD:sw sw /parkbrd/meeting information/11 -01 Referendum Update.doc