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The proposed 2008 CIP shows the $75,000 `Roller Sports' project funded by $50,000 <br />from the Park Trust Fund, and $25,000 in General Fund monies. Given the General Fund <br />forecast; and that all of the $75,000 is likely to be needed for the first phase of the skate <br />park - staff recommends that the Lawful Gambling Fund be considered as the funding <br />source for this advance purchase to benefit Happy Days. That fund balance is <br />approximately $265,000. The Happy Days Committee has earmarked $700 of their <br />budget (half the shipping expense) for this element of the event, should it be needed. <br />Enclosed for your information is the 2008 Parks CIP worksheet, and detail of the <br />skateboard components for consideration. <br />Funding Source: <br />The amount of $8,800 would come from the Lawful Gambling Fund. <br />Staff Recommendation: <br />Staff recommends the purchase of the three new items at a not -to- exceed cost of $8,800, <br />from the Lawful Gambling Fund <br />Council Action: <br />Based upon discussion <br />Reviewed by: <br />Parks Supervisor <br />Director of Public Works <br />Finance Officer <br />CC: 08/14/07 <br />—244— <br />