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Capital Improvement Program <br />City of Ramsey, Minnesota. <br />2016 milt 2020 <br />Project # <br />Project Name <br />04 -PARK -007 <br />Lake Itasca Community Park <br />Type Improvement <br />Useful Life 50 Years <br />Category Park Improvement <br />Description <br />Department Park Improvements <br />Contact Unassigned <br />Priority 4 Future - Moderate <br />Status Future Consideration <br />Total Project Cost: $1,200,000 <br />This project is intended to expand the existing, undeveloped Lake Itasca Park south to Alpine Drive, east of the lake to the west line of the <br />adjacent subdivision. In addition, athletic fields may be sited south of Alpine Drive, east of Puma Street, if a concurrent development plan <br />warrants it. <br />PARK TRUST FUNDING FOR THE PROJECT SHOWS A NEGATIVE ENDING BALANCE AS OF 2016. PROJECT UNFUNDED. <br />Justification <br />Properties south of Alpine Drive, both east and west of Puma Street will be proposed for development. It is this development that would provide <br />the necessary park dedication funds for the first phase of construction, as well as contributing increased recreational demand. <br />A four acre parcel south of Alpine Drive may also be sold to finance improvements in the park. <br />Expenditures <br />2016 <br />2017 <br />2018 <br />2019 <br />2020 <br />Total <br />Improvements Other than <br />Building Cost <br />400,000 400,000 400,000 <br />1,200,000 <br />Total <br />400,000 400,000 400,000 <br />1,200,000 <br />Funding Sources 2016 2017 2018 2019 2020 Total <br />Park Improvement Trust Fund 400,000 400,000 400,000 1,200,000 <br />Total <br />400,000 400,000 400,000 1,200,000 <br />