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Staff Recommendation: <br /> <br />Staff recommends using the Park Trust Fund interest earnings for the 1998 purchase <br />which will provide time to resolve the following: 1) Ascertain the viability and benefits <br />of a storm water management fee; 2) Determine the potential storm water project costs <br />and bonding amount; and 3) Determine whether storm water fee would be better applied <br />toward repaying the Park Trust Fund or applied directly to drainage related improvements <br />within the park. <br /> <br />Committee Action: <br /> <br />Motion to recommend City Council authorize payment of $120,000 in 1998, and $85,000 <br />on or before June 30, 1999, for the purchase of 83.33 acres of property for the <br />establishment of Rarnsey's Community Park #5 as specified above. <br /> <br />Reviewed by: <br /> <br />Copies also distributed to: <br /> <br />Parks/Utilities Supervisor <br />City Administrator <br />Finance Officer <br /> <br />Park & Recreation Commission <br /> <br />FC: 12/08/98 <br /> <br />jrnt/ComPkS.do¢ <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br />I <br /> <br /> <br />