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Councihnember Elvig stated that he would agree that is true with parks, but not with trails. He <br />noted that he was not suggesting that they do anything about it at this point, but just wanted to <br />pose the question. <br /> <br />Counciimember Zimmerman requested that staff compare the commercial park dedication and <br />trail fees to what other cities charge. <br /> <br />Community Development Director Frolik noted that they currently have not been collecting a <br />trail fee fi'om commercial development. <br /> <br />Councihnember Elvig replied that they should be collecting trail fees from commercial <br />development because the trails are heavily used in the business district. <br /> <br />Consensus of the City Council was to forward the issue of park dedication and trail fees in the <br />connnercial area to the Park Commission for their review. <br /> <br />Motion by Councilmember Elvig, seconded by Councilmember Zimmerman, to recommend that <br />the City Council introduce an ordinance to ratify the 2004 building construction, zoning and <br />planning fees and adopt the resolution amending the 2004 schedule of rates, fees and charges and <br />direct staff to forward the issue of park dedication and trail fees in the commercial area to the <br />Park Commission for their review. <br /> <br />Motion carried. Voting Yes: Chairperson Elvig, and Councilmembers Zimmennan, and <br />Strommen. VotingNo: None. <br /> <br />Case #5: Establishment of Two New Funds <br /> <br />Councihnember Elvig stated that he wanted to introduce a discussion about creating two new <br />funds in the City. One would be a park maintenance endowment fund in the amount of 10 <br />million dollars for the sole purpose of using the interest earnings to pay for park items. The <br />second fund would be established for the future building of City Hall so that the City will not <br />need to bond more than 9 million dollars for the facility. The amount would have to grow <br />enough to offset the cost of bonding 9 million dollars before the bonding could occur. <br /> <br />Councilmember Zimmerman inquired as to where they would come up with the 10 million for <br />the park maintenance endowment fund. <br /> <br />Councihnember Elvig explained that he would suggest that any excess funds at the end of the <br />year would be placed into the two funds. The Council will need to review the City's current <br />policy on how excess funds are distributed and possibly amend the policy. The City currently <br />tends to put the funds into already healthy funds or spend them simply because they are available. <br />He would like to use those funds to get them to a point that they are below the 10 million bank- <br />qualifying thresholds. He would like to encourage staff to save money rather than spending <br />money and a new City Hall is a pretty good incentive. <br /> <br />Finance Committee/December 9, 2003 <br /> Page 5 of 6 <br /> <br /> <br />