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W <br />TO: Clerk -Administrator Pauley nn1/�,-,� <br />FROM: Finance Director -Treasurer Brager v DATE: November 24, 1986 <br />RE: POTENTIAL FUNDING FOR PARKS & STORM WATER CAPITAL <br />PROJECTS <br />Staff was requested to consider funding options for Parks <br />Capital Improvements as presented in the Park Commission's <br />Five Year Capital Improvement Plan and also to consider <br />funding for Storm Water Improvements as presented in the Storm <br />Water and Wetland Management Plan adopted earlier this year. <br />This memorandum considers several funding options and their <br />impacts on present City finances. <br />COSTS OF PROJECTS <br />The Park Commission's Capital Improvement Plan provides for <br />various improvements to be undertaken from 1988 to 1992 at an <br />annual cost of $72,000 - $96,000. If those improvements were <br />to be financed solely from the property tax levy the following <br />levies (based upon present assessed valuations) would be <br />required: <br />Year <br />Financing <br />Levy <br />Required <br />Required <br />1988 <br />$96,000 <br />1.67 Mills <br />1989 <br />$73,100 <br />1.27 Mills <br />1990 <br />$72,000 <br />1.25 Mills <br />1991 <br />$80,000 <br />1.39 Mills <br />1992 <br />$76,000 <br />1.32 Mills <br />A Storm Water & Wetland Management Plan was approved by the <br />City Council on April 14, 1986. That Plan contains a seven <br />year program of storm water improvements and maintenance <br />projects. If the costs of those improvements and projects <br />were to be financed solely from the property tax levy the <br />following levies (based upon present assessed valuations) <br />would be required: <br />