ITEM: 12.1 ADMINISTRATION- Nate Monahan, Program Supervisor
Title
ADOPTING THE 2014-2018 CAPITAL IMPROVEMENT PLAN FOR PARKS
Background
The City maintains a five-year Capital Improvement Plan for Park Development Funds. The Capital Improvement Plan is a flexible plan based upon long-range physical planning and financial projections. Flexibility is achieved through annual review and revisions as necessary. All improvements listed in the plan are proposed and must come back to the Park Board for review and recommendation to the City Council. The City Council then makes all final decisions on capital improvements.
Revenue for the capital improvement plan comes from park dedication fees required of all new residential ($3,094/acre), commercial ($8,289/acre) and industrial ($5,528/acre) development. The residential fee is split, with 80% of the fee going to parks development and 20% of the fee going to open space development. There is no split for commercial and industrial fees, with 100% going to parks development.
Revenue from park dedication fees can only be used for development of new parks and trails, for new improvements to community parks used by all residents and for improvements to neighborhood parks that serve new growth. It cannot be used for park maintenance.
The plan elements that follow were recommended by the Park Board for the 2014-2018 Capital Improvement Plan for Parks.
Plan elements:
The Lexington Athletic Complex is a project that began in 2012 with the purchase of 38 acres and the contracting of a park consultant. The bid process for this park project will began late February and construction will begin in the spring. Funding strategies were approved by City Council to finance the development of a 38 acre Lexington Athletic Complex by internally borrowing up to $4 million from the Capital Improvement Fund.
The Lakeside Commons Park Parking Lot Improvement (1.5 acre) project has been approved by the City Council at a cost of $220,500. In 2015, 2016, 2017 the Park fund will be repaying the 125th Avenue Intersection Improvement fund $100,000 each year for the cost of the land that was part of the settlement by the land developers.
Aquatore Park Field #1 Relocation project will carry over to 2014 and bids will be sent out in February and construction will begin in June on a new lighted ball field. City staff, Park Board and City Council knows this field is necessary as indicated in field usage statistics presented by staff.
Aurelia Park replacement of tennis and basketball courts in the amount of $69,000 which was previously approved by the City Council last fall will be finish up this spring.
The Finance Department has reviewed the plan and concurred that the plan is feasible over the five-year period.
Recommendation
By motion, recommend the City Council adopt the 2014 to 2018 Capital Improvement Plan for Park Development Funds.