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CITY OF RAMSEY <br /> 19!)9-2003 <br /> <br />CAPITAL IMPROVEMENT PROGRAM <br /> <br />'ROJECT DESCRIPTION AND LOCATION <br /> <br />PROJECT TITLE: C~'ntrat Park Expansion <br />PROJECT TYPE; Park Improvement <br />PROJECT YEAR: 2000-2008 <br />TOTAL ESTIMATED COST: $297,900 <br /> <br />'his item represents the land payment for the 35 acres east of the existing 45-acre Central <br />'ark, The land payments would be made over a ten-year period, including interest. <br />'he purchase agreement will be structured so that thc park can continue to be developed while the park <br />and is being paid for. <br />ncorporatcd in this cosk is $20,000 for the engineering & design costs of desirable park improvements. <br /> <br />PROJECT <br />Start Date <br /> <br />PROJECT JUSTIFICATION <br /> <br />I%e addition of an additional 35 acres will allow for the further expansion of Central Park. Spreading the <br />land payments over a ten-year time frame will allow for continued park development in not only Central Park, <br />but the rest of the park system as well. <br /> <br />Summary of Total Project Costs: <br /> <br />A, Approximate total cost $ 297,900 <br />B. Cost ~{Ir~ad¥ incurr~l $ <br />C. Balance of cost to complete $ 297,900 <br /> <br /> Detail of Total Cost Estimates <br /> 1. Land Acquisition <br /> a. Site already acquired $ <br /> b. Site to be acquired $ 277,900 <br /> c. Area required (acres) 35 <br /> d. Total estimated cost <br /> 2. Building Cost/Construction <br /> 3. <br /> 4. <br /> <br />Improvements Other than Buildings Cost <br />FumishlngsYF_.q ulpment <br /> <br />Total Project Costs <br /> <br />Source of Funding: <br /> <br /> I, General Fund <br /> <br /> 2. Park Trust Fund <br />'~i Landfill Trust Fund <br /> MSA <br /> <br /> 5. Lawful Gambling Fund <br /> <br /> 6. Tax Increment Fund <br /> <br /> 7. Public Improvement Revolving Fund <br /> 8. Utilities <br /> 9. Other <br /> a. Issuance of debt <br /> b. Sealcoating escrow <br /> e. Grants and aids <br /> d. Inter-Fund loans <br /> c. Development fees <br /> f. <br /> Total other <br /> <br />Total Sources of Funds <br /> <br />277,900 <br /> <br />I <br />[Prior 1998 <br />J 1998 <br />[ 1999 <br /> <br />$ 277,900 <br /> <br />$ 20,000 <br /> <br />$ 297,900 <br /> <br />20,000 <br /> <br />277,900 <br />297,900 <br /> <br />iProposed Expe0diture~ by Years <br /> <br />52,000 <br /> <br /> 20{)I <br /> 2002 <br /> 2003 <br />TOTAL <br /> <br />28,000[ <br />297,900[ <br /> <br /> <br />