Agenda - Council - 11/23/1993 - Laserfiche WebLink

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Mayor and Council October 29, 1993 Page 2 Recent practice, pursuant to a 1992 ordinance change, has been to allocate park dedication dollars received from new subdivisions toward the subdivision park construction at the time of development of the infrastructure improvements. The 1994 CIP contemplates the development of Sunny Ponds Park in this manner. It also predicts receipt of dedication dollars from Phase II of the Rivenwick subdivision, as well as some revenue from Northfork. In addition, however, it is contemplated that $36,700, from TIF district ~t4, will be allocated to the Rivenwick Park. The Park Commission saw this as appropriate in that this is the lone CiD, park south of T.H. #10, and development of the park should enhance an upper bracket subdivision faced with negative impacts from nearby commercial properties. As part of the budget approval for 1994, it is proposed that the park trust fund and TIF expenditures toward these projects also be approved. This approval would then generate a specific park development plan and line item budget for your approval as occurred for the 1993 projects [Lake Itaska Trail and Emerald Pond Park] at the 1992 Woodland Green Park. Council has designated the Charitable Gambling proceeds toward park activities, tn the CIP $3,1300 each year is programmed toward miscellaneous improvements not previously programmed. You will recall the request for spring riders in Woodland Green and Peltzer park, request for matching funds for a tree planting program from the Tree Board, and a new backstop in Riverwood Hills park [not all of these were funded]. Requests such as these are what is contemplated for funding from this source. While it appears our revenues will exceed the budgeted expenditure, Staff recommends a year of experience under the new proposed ordinance change prior to any alterations in this program. The above explains the status and various approvals which have occurred relative to the Five Year Capital Improvements Program and 1994 Improvement Budget. While the entire 1994 program seems to be moving forward, Staff will recommend passage of the 5 Year CIP as part of the 1994 Budget Review. As part of the 1995 Budget Review it will again be considered [as amended].