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Councilmember Haas Steffen pointed out that there is not an approved CIP at this point in time. We are talking about moving projects up, etc. We need some fire department things and now we are talking about park space. Mr. Kapler stated that the seller is very open to terms. We can spread the payments out pretty far. Councilmember Haas Steffen cautioned that there is a lot of money planned to be spent and she wondered if there would be enough to go around. Mr. Norman stated that the money would be paid out of the general fund but the first payment would not be due until the year 2000. He suggested that Mr. Bauer is pretty flexible, so this could be placed in next year's budget also. Councilmember Haas Steffen stated that all she is asking is if staff has thought this through so we are not shorting one fund to pay for something from another fund. Motion by Councilmember Beyer and seconded by Councilmember Zimmerman to bring back a financing plan for the 35 acres east of Central Park. Motion carried. Voting Yes: Councilmembers Beyer, Zimmerman, Beahen and Haas Steffen. Voting No: None. Absent: Mayor Gamec. Mr. Norman noted that the third part of this case is the parcels south and southeast of City Hall. As the community is in the process of being fully developed, it was thought that perhaps we should see how much open space surrounding City Hall is available. Staff contacted Mr. Leon Fisher and found that he has plans for a town home development. The property immediately south had not considered selling but because of increasing development, he preferred not to sell his back portion but instead is interested in selling his whole lot - house and all. Because of the discussion of expanding City Hall, we may be able to work something out with Mr. Fisher. Also contacted was a third party and they were not interested in selling any land. Mr. Norman pointed out that this portion of the case is for the Committee's information, there is no recommendation from staff nor is Council action expected at this time. Case #3: Approve Purchase of Community Park #5 Director of Public Works Kapler stated that in May, City Council authorized staff to begin negotiations on the purchase price of Community Park #5 on the west side of T.H. #47. Staff contacted Mr. and Mrs. Haldorson and their daughter and negotiated a price for the 83-acre site. The estimated market value is $204,700 and they agreed on $205,000. They would like the City to pay them $120,000 in 1998, as they have a balloon payment due at the end of the year and then they would like the balance in 1999. Funding in 1998 would be from the park trust fund interest earnings and the remainder from the trust fund or a bond issue. Finance Committee/December 8, 1998 Page 3 of 6