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City of Hugo
<br />2020-2024 CIP
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<br />Project: Community Park Improvements Year: 2020-2024 Appendix A
<br />Sources of Funds
<br /> 2020 2021 2022 2023 2024 Total
<br />Beginning Fund Balance $ - $ 548,133 $ 3,002,114 $ 2,809,695 $ 2,837,626 Property Tax Levy $ 556,133 $ 557,581 $ 557,581 $ 557,581 $ 557,581 $ 2,786,457
<br />Tax Abatement Bond Proceeds $ 7,200,000 $ 7,200,000
<br />Underwriter's Discount (1.3%) $ (93,600) $ (93,600)
<br />Cost of Issuance $ (60,000) $ (60,000)
<br /> Total Sources of Funds $ 556,133 $ 7,603,981 $ 557,581 $ 557,581 $ 557,581 $ 9,832,857
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<br />Uses of Funds
<br /> 2020 2021 2022 2023 2024 Total
<br /> Park Planning - Feasibility Study $ 8,000 $ 8,000
<br />Lions Park Improvements: - Park Pavilion/Community Room/Restrooms $ 2,500,000 $ 2,500,000
<br />- Roadway Improvements - included in street CIP $ - $ -
<br />- Storm water & Water Re-Use System $ 500,000 $ 500,000
<br />- Parking Lot $ 500,000 $ 500,000
<br />- Event Plaza/Water Feature $ 600,000 $ 600,000
<br />- Amphitheater & Fire Pit $ 300,000 $ 300,000
<br />- Sport Court & Ball Fields $ 200,000 $ 200,000
<br />- Sidewalk/Trails $ 200,000 $ 200,000
<br />- Relocate & Improve Skate Park & Playground $ 200,000 $ 200,000
<br />- Memorial Garden $ 100,000 $ 100,000
<br />- City Hall Plaza $ 50,000 $ 50,000
<br />Irish Avenue Park Improvements: - Parking/Access Improvements $ 150,000 $ 150,000
<br />- Park Shelter $ 50,000 $ 50,000
<br />- Other Interim Use Improvements $ 50,000 $ 50,000
<br />Clearwater Creek Preserve Improvements: - Phase I Upgrades $ 500,000 $ 500,000
<br />Bond Principal & Interest $ 529,650 $ 531,030 $ 1,060,680
<br /> Total Uses of Funds $ 8,000 $ 5,150,000 $ 750,000 $ 529,650 $ 531,030 $ 6,968,680
<br />Ending Fund Balance $ 548,133 $ 3,002,114 $ 2,809,695 $ 2,837,626 $ 2,864,177
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