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PAGE 9 <br />Given the Parks requests from the Parks & Environmental Commission and staff, Finance staff asked Ehlers to <br />prepare a memo to describe how a close out of the districts would work, and the funds that would be made <br />available for the Council’s consideration. <br />The memo is attached, and a summary of the end result is the City will receive approximately $976,424. Once <br />these dollars are received from the County they are no longer considered TIF and the City can deposit them into <br />any City fund, including the General Fund to use at its discretion. <br />Possible Allocation of Close Out Funds <br />Park Improvement Fund $835,000 Fund Parks requests, as desired and prioritized <br />Infrastructure Fund $77,800 Fund pedestrian refuge median at 34th & SLR in 2025 <br />Capital Improvement fund $63,624 Remainder to support future needs <br />$976,424 <br />It is important to note that this would be one-time funds, and use should be carefully considered. <br />DISCUSSION ITEMS FOR COUNCIL FEEDBACK <br />Below are the specific items for discussion and feedback for the City Council: <br />Comments on the information presented and work completed to date. <br />Prioritization of Parks requests from Parks & Environmental Commission and staff <br />Comments on the funding option for the Parks requests <br />ATTACHMENTS: <br />CIP Spreadsheets <br />Ehlers TIF Memo <br />27