04/19/1999 Council Minutes - Laserfiche WebLink

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COUNCIL FINANCE WORK SESSION APRIL 19, 1999 Currently staff has outlined a proposal to purchase property for the complex by paying the landowner a down payment of $100,000 and paying the balance in three (3) installments. Staff is proposing to located the athletic complex near the intersection of Centerville Road and Main Street. The landowner is currently the Charter Commission Chairman and a member of the Park Board. Council expressed concern about the public perception of conflict of interest. Staff was instructed to prepare a plan to make sure the public understands that there is no other good location for this facility. The City Attorney has already prepared a written opinion on the conflict of interest matter and Mr. Jeff Schoenbauer, City parks consultant has also prepared a professional opinion about the location. Once the City Council has approved the purchase of the property, public meetings will be conducted to let the public know about the land purchase and what is planned for the site. Behm's Century Farm Park - Staff is considering selling a strip Lane and Palomino Lane to the developer of Behm's Century Farm develop the park for this subdivision. The developer uncle' ate. this land, the City is not guaranteeing him MUSA or aper BONDING CAPACITY, LINDA WAITE,S On March 3, 1999, Jerry Shannon, S structuring a bond so that the City co provide financing for the at etie was provided as a re • id off (*Mustang et S 1 dollars to City sells him 'elopment plan. ;steel, In:c. talked to the City Council about rovide`financial assistance to the YMCA and ex. Two (2) pages from Mr. Shannon's handout EXCESS REVS re : NDAVAITE-SMITH Projected 8+' tl• lance - A draft resolution designating the General Fund excess fund balanceQ the year ended December 31, 1998 has been prepared. According to City Policy, certaindevels of various reserves have to be maintained. This is outlined in the draft resolution. In addition, the Council has already reserved some of the 1998 excess fund balance to pay for some discretionary items. The total amount of the 1998 discretionary reserve has not been spent. The balance of the 1998 discretionary excess fund balance is also outlined in the draft resolution. The total amount of the undesignated or unreserved excess fund balance that must now be designated is $273,430.00. HACA Penalty - There was discussion regarding why there was such a large excess fund balance and the need to reserve some of the excess fund balance to pay the LGA/HACA penalty for next year. List of Staff Recommendations - Staff prepared a list of recommendations for the use of the excess 1998 fund balance. It was noted that the list was not prioritized but listed in PAGE 4 •