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City Council Regular Meeting Minutes September 26, 2000 Page 9 1 space, then the Parks District would prepare a proposal that would be presented to the Council 2 for consideration. 3 However, because of the limited size of certain areas, he believes there are limits as to what can 4 be accomplished. He would not suggest a typical regional park, but manage the area as open 5 space, interpretative centers (nature centers), trails, etc. This type of park would serve schools 6 effectively and provide a resource for education. The Parks District would work with the school 7 district, the City, and the surrounding residents. 8 Sparks asked for clarification of the background of the Hennepin Parks. Mr. Bryant explained 9 the history of Hennepin Parks in that it was created by the State Legislature. Additionally, he 10 confirmed that the organization is not a part of the Hennepin County organization. Hennepin 11 Parks provides for educational and recreational opportunities are provided, as well as 12 preservation of open space. 13 Mr. Bryant noted that the Hennepin Parks is concerned about zoning. 14 Cavanaugh thanked Commissioner Franzee and Mr. Bryant for the presentation. • C. Discuss Funding Plan for Central Park Redevelopment. 16 Cavanaugh reviewed for the audience that the Council had met with the Parks Commission and 17 the School Board in a joint meeting earlier this evening. 'Cavanaugh noted that the next 18 challenge, other than the approval of the final plan, was funding for the project. He reviewed 19 that the current estimate of the project is $1.6 million, with contingencies. The challenge for the 20 Council is to fund the project, realizing that there will be a joint ownership with the school 21 district. 22 Cavanaugh continued by stating that a funding program has been shaped, in essence, with a pro- 23 ration between the City and the School of 80% (City) and 20% (School), which would reflect use 24 of the park, and not the ownership of the park. 25 Cavanaugh asked City Manager Michael Morrison to review the funding proposal for Central 26 Park. In that respect, Morrison directed the Council's attention to page 28 of the Council's 27 agenda packets. This page represented a memorandum from Roger Larson, Finance Director, 28 and noted specifics about the project funding. Additionally, input from Springsted, public 29 financial advisors, has been received, and that information is presented on page 29 of the agenda 30 packets. 31 Morrison said he would recommend that the Council, if it so desired, adopt a motion to proceed •32 with the memo presented on page 28, which would give Staff direction to proceed with the proper funding, and what the Council would prefer to use from reserves.