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APPROVE AGENDA <br /> <br />Motion by Commissioner Olds, seconded by Commissioner Shryock to approve the Park and <br />Recreation Commission meeting agenda for the meeting dated June 10, 2004 as presented. <br /> <br />Motion carried. Voting Yes: Chairperson Johns, Commissioners Olds, Shryock, LaMere, <br />Ostrum and Pontius. Voting No: None. Absent: Lehman. <br /> <br />APPROVE MINUTES <br /> <br />Motion by Commissioner Shryock, seconded by Commissioner Olds, to approve the following <br />Park and Recreation Commission Regular Meeting Minutes: <br /> <br />1) Park and Recreation Commission Regular Meeting Minutes dated May 13, 2004. <br /> <br />Motion cart/ed. Voting Yes: Chairperson Johns, Commissioners Shryock, Olds, LaMere, <br />Ostrum and Pontius. Voting No: None. Absent: Lehman. <br /> <br />COMMISSION BUSINESS <br /> <br />Case #1: Creation of a Park Fund <br /> <br />Finance Officer Lund explained the purpose of this case was to discuss the creation ora new <br />Park Fund and its possible funding sources and uses. <br /> <br />Finance Officer Lund explained most park projects are currently being funded from the Park <br />Trust Fund, which is funded from Park Dedication Fees received from developers when a parcel <br />is developed. Park dedication fees are deposited 50% into the respective park district and the <br />remaining 50% can be spent in any park district. While this fund has a healthy balance, it does <br />not take into consideration those park districts that have little or no development fees to help <br />fund necessary projects. Also, the City is currently in a ~owth mode, with much development <br />occurring, which generates park dedication fees. What happens when development stops, the <br />parks still need to be updated, maintained, etc. <br /> <br />Finance Officer Lund noted that it is felt that with the additional park costs attributed to the <br />ongoing maintenance, improvements, and acquisition that it was necessary to begin the <br />implementation of an additional fund. Council directed staff at the Finance Committee meeting <br />of May 25, 2004, to have this item presented at the June 10, 2004 Park Commission meeting so <br />that the City Council and Park Commission could jointly determine the necessary funding uses <br />and sources of this fund. <br /> <br />Finance Officer Lund stated the creation of an additional fund requires the adoption of an <br />ordinance amending Chapter 3, Section 3.40 entitled "City Funds". <br /> <br />Park and Recreation Commission/June 10, 2004 <br /> Page 2 of 8 <br /> <br /> <br />