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AGENDA ITEM NO. 5B <br />STAFF ORIGINATOR: Rick DeGardner, Public Services Director <br />COUNCIL MEETING DATE: May 8, 2000 <br />TOPIC: Resolution 00-55, Designating Proceeds of Sale of <br />Lots 1 and 2, Block 2, Rice Lake Estates <br />VOTE REQUIRED: 3/5 <br />BACKGROUND: <br />Chapter XII Section 12.05 of the City Charter permits the City Council to designate the <br />proceeds of the sale of real property by resolution. Ordinance 06-00 relates to the sale <br />of two lots on Sandhill Drive for the purchase price of $36,900. It is estimated that <br />$33,000 will remain after expenses of the additional soil borings, title commitment, deed <br />tax, and closing costs are paid. <br />Staff and the Park Board are recommending that the City Council designate the <br />proceeds to the Park Dedication fund to provide revenue for parks and trails <br />development. Park dedication funds were used for the development of Rice Lake <br />Estates Park. This included playground equipment, basketball court, irrigation, seeding, <br />and trail leading to Baldwin Park. <br />If the City Council determines that the Park Dedication Fund is not an appropriate <br />designation for these funds, the proceeds could be placed in the General Fund and <br />designated for any purpose determined by council. <br />OPTIONS: <br />1. Approve Resolution 00-55 designating proceeds of Ordinance 06-00 to park <br />dedication fund. <br />2. Approve Resolution 00-55 designating proceeds of Ordinance 06-00 to General <br />Fund for use at City Council's discretion. <br />RECOMMENDATION: <br />Option 1 <br />5/2/00 <br />RD/Corr/Council/greensheet/resolution designating sandhill lots <br />