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Fund Balance Sources. He stated that the City Council, during the 1987 <br />budgeting process, did not budget any outlay for park projects. He stated that <br />Handout G indicates plans that the Council wishes to proceed with in 1988, the <br />deficiency in funds to do so, and possible funding sources to proceed with those <br />plans. <br /> <br />Councitmember Cox asked what wo_id happen to the the planned 1988 River's Bend <br />Park plans if the Council decides not to fund it. <br /> <br />Mr. Graczyk clarified for Councilmember Cox that possible sources of revenue <br />have been identifed and are listed on Handout G for the Council's consideration <br />as available resources and therefore funding would not be a problem. He stated <br />.that to provide funds for the plans listed (which includes 1989 plans for <br />Central Park) the City must look for additional funding of $226,645. The <br />foilo~%ng sources were id~ntifiedand discussed: <br /> <br />1. Donations; 2. Changes in Park Fen Schedules; 3. Special Levy of $77,876; <br />4. Landfill Trust Fund; 5. General Fund Fund Balance; 6. TIF; 7. Bu~ge~ ~ Cuts <br /> in other areas. <br /> <br />Mr. Hartley added that tax increment financing could be used on P~ver's Bend <br />Park for improvements up to an amount of $30,900. This amount would be in <br />addition tot he other funding sources listed onthe handout. <br /> <br />At Counciimember Sorteberg's request, discussion ensued relative to annual <br />fu_n~ing of park projects and frc~ w%ere large donations might be anticipated. <br />~tr. Hartley stated that the Council's decision should tie into %he overall <br />budget; at what level do t/ney %~ish to proce~i with par>[ funding. The level of <br />funding will determine if the ~ks v,ill be maintained at their ~arr~nt levels <br />or if they %ii! be scaled back. <br /> <br />if we want to keep cn our present sche~u!e of pa-~k iuprovements, Ymvor Reime~n <br />_n=._~, %~11 Co'~ncii have to ~ up %~-h $103,000 for ~ 988? The <br /> <br />~ Ha~t:~v aaai~ ~=~ ~=~ +' Council that they have the = ..... ., _ <br /> s.~g__ ~n_o~n special levies -- su% <br />$77,876 ~re ~n~n %~at is inciud~ in the ~.,s =~ ~'~ ,.~. · <br /> <br />Discussion ensued <br /> <br />in E~ndcu% G. <br /> <br /> ...... = .... n~ pages <br />fo!lo~: <br /> <br /> <br />