Laserfiche WebLink
FC CASE <br /> <br />CONSIDER FINAL PAYMENT FOR PURCHASE OF <br />COMMUNITY PARK #5 <br /> By: James E. Norman, City Administrator <br /> and Mark Boos, Parks/Utilities Supervisor <br /> <br />Background: <br /> <br />During the City Council meeting of December 8, 1998, the City Council authorized the <br />acquisition of Community Park #5, from Mr. Vernon Halderson et. al. in the amount of <br />$205,000 (map attached to case). The purchase was structured into two payments, with <br />the first portion paid prior to the end of 1998 in the amount of $120,000. The final <br />payment of $85,000 is payable by June 30, 1999. The 1998 payment was funded from <br />the Park Trust Fund and it was anticipated that the second payment would be made from <br />a newly created fund after the City had created a storm water management utility fee <br />system. It was City Council's desire during consideration of the land purchase that <br />ultimately the Park Trust Fund would be repaid the $120,000 to provide for initiation of <br />park development within the five-year time frame. <br /> <br />With the second payment scheduled for June 30, 1999, staff will request to seek direction <br />from the City Council for payment preference. It should be noted that the storm water <br />management utility system has yet to be established. <br /> <br />Committee Action: <br /> <br />Based upon discussion. <br /> <br />Reviewed by: <br /> <br />City Administrator <br />Parks/Utilities Supervisor <br />Finance Officer <br />Director of Public Works <br /> <br />CC.' 06/08/99 <br /> <br />~ lRA_FS l l l/OL l ~userstlThielingl~JO~CO UNCIL& lB UDGETFlq1999klunel CommPk5. doc 06/04/99 <br /> <br /> <br />