Agenda - Parks and Recreation Commission - 04/12/2001

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CITY OF RAMSEY 2001-2005 CAPITAL IMPROVEMENT PROGRAM PROJECT TITLE: Central Park Expansion PROJECT TYPE: Park Improvement PROJECT YEAR: 2002-2011 TOTAL ESTIMATED COST: $320,000 O,IECT DESCRIPTION AND LOCATION project is the expansion of the existing 45-acre park by 35 acres, easterly to /ariolite Street. PROJECT Start Date ,ROJECT JUSTIFICATION 'his 35-acre expansion has been on the Park and Trail Plan for many years and is intended to ultimately provide the land ..eded to make Central Park the largest developed park in the City's system &community parks. For 2001, there is no funding designated for the land purchase (unless it becomes available), in later years it is intended as a General available for sale, or the owner considers development, the City may have the funds necessary to secure the land. A first right-of-refusal, in the City's favor, is being explored to meet the above objective. Summary of Total Project Costs: A. Approximate total cost $ 320,000 B. Cost already incurred C. Balance ofcost to complete $ 320,000 jO Detai fTotalCostEstimates I. La Acquisition ,q Site already acquired b. Site to be acquired $ 320,000 c. Al'.' required (acres) 35 d. Total estimated cost 2. Building Cost/Construction 3. Improvements Other than Buildings Cost 4. Furnishings/Equipment Total Project Cost~ Source of Funding: I. General Fund 2. Park Trust Fund 3. Landfill Trust Fund 4. MSA 5. Lawful Gambling Fund 6. Tax Increment Fund 7. Public Improvement Revolving Fund 8. Utilities 9. Other a. Issuance of debt b. Sealcoadng escrow c. Grants and aids d. Inter-Fund loans e. Development fees t'. Total other Total Sources of Funds 320,000 $ 320,00Q $ 320,000 $ $ 320,000 IProoosed Exnenditures bY Yeam Prior 2000 $ 2003 2000 $ 2004 2001 $ 2005 2002 $ 32.000 TOTAL 32,000] 32,000I 320,0001 I