05/27/82 Agenda & Packet - Laserfiche WebLink

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MEMO TO: Mounds View Parks and Recreation Commission DATE : May 14, 1982 4111 RE : Silver View Park Update PAGE: Four The totals to date show a deficit of $929 . 96 from the initial grant of $105,100 . 00 . It should be noted that in addition to the State and Federal grant , we have also received $8 ,107 . 58 in interest monies as of January 1 , 1982 . Including the interest, we are currently $7, 177 . 62 under budget on the entire project . The only item that has not been coded and accounted for in the project to date is the outfield fence which totalled $1 , 370 . 67 . Assuming that we code the fence to the Silver View Park account , we would continue to show a positive balance of $5, 806 .95 which does not include interest we have accrued to date in 1982 . Staff has also submitted a preliminary grant for Phase II development of Silver View Park for State and Federal funding. The grant was for the construction of four lighted tennis courts and 4000 ' of 8 ' bituminous trail . Should the grant be considered for funding, we will be asked to submit a formal application in Mid-June. The total grant application was for $140 , 000 .00 which would again be broken down on a 25% city, 25% state and 50% federal basis , assuming monies are available . In conclusion, staff feels the project has gone fairly well and • we envision completion of Phase I by June 1 , 1982 . Staff will be available for any additional comments at Monday evening ' s Council Meeting. 1111