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APPROVE AGENDA <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 /> Motion carried. Voting Yes: Chairperson Johns, Commissioners Olds, Shryock, LaMere, <br /> Ostrum and Pontius. Voting No: None. Absent: Lehman. <br /> APPROVE MINUTES <br /> Motion by Commissioner Shryock, seconded by Commissioner Olds, to approve the following <br /> Park and Recreation Commission Regular Meeting Minutes: <br /> 1) Park and Recreation Commission Regular Meeting Minutes dated May 13, 2004. <br /> Motion carried. Voting Yes: Chairperson Johns, Commissioners Shryock, Olds, LaMere, <br /> Ostrum and Pontius. Voting No: None. Absent: Lehman. <br /> COMMISSION BUSINESS <br /> Case#1: Creation of a Park Fund <br /> Finance Officer Lund explained the purpose of this case was to discuss the creation of a new <br /> Park Fund and its possible funding sources and uses. <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 thi's 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 growth 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 /> 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 /> 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 /> Park and Recreation Commission/June 10,2004 <br /> Page 2 of 8 <br />