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MEMO TO: PARKS AND RECREATION COMMISSION <br />FROM: MARY SAARION, DIRECTOR <br />PARKS, RECREATION AND FORESTRY <br />DATE: NNE 14, 1989 <br />SUBJECT: PARK IMPROVEMENT FUND <br />The Park Improvement Fund is an accumulation of monies paid to the <br />City by developers who subdivide land. These monies are dedicated for <br />park improvements. As of today, this fund is $66,203.91. The SYSCO <br />development will be paying $50,000 to the Park Improvement Fund. This <br />money will most likely be received sometime in December. This money <br />must be received before December 31, 1989. <br />The Parks and Recreation Commission is contemplating two projects <br />including Oakwood Park improvements at $29,000 and Silver View Park <br />picnic utilities at $34,000. Both projects reflect a $63,000 expenditure. <br />If both projects are completed with the estimated costs, the Park <br />Improvement Fund will show a $53,203 balance. <br />MS/SL <br />