ITEM: 9.1 PUBLIC HEARING - Joe Huss, Finance Director
Title
FUNDING PARK IMPROVEMENTS THROUGH USE OF CAPITAL IMPROVEMENT FUND
Background
At the April 12, 2012 Workshop meeting, Council reviewed a staff-prepared funding plan to consider a proposal to use the City's Capital Improvement Fund (CIF) to fund a portion of the costs for acquisition and improvements at both Aquatore Park and the new Lexington Athletic Complex. The funding plan was prepared per Council direction given at the February 2012 Retreat Workshop. Pursuant to City of Blaine Ordinance 2-153, the City Council must conduct a public hearing on whether the proposed project is to be funded.
Upon Council approval, the total of CIF funds to be used for park acquisition and development is $1.9 million.
Subsequent to the public hearing, upon finding that use of the Capital Improvement Fund is proper, Council would adopt an authorizing resolution. As incorporated in the authorizing resolution, Council has identified and found the following:
1. The development of a multi-use athletic facility to be known as the Lexington Athletic Complex and the improvements at Aquatore Park have sufficient community-wide benefits consistent with other City programs and goals;
2. The project would not otherwise occur but for financing from the CIF;
3. CIF financing is not proposed as an alternative to funding from another previously programmed or available source.
Schedule of Actions
04/19/12 - Conduct public hearing
04/19/12 - Adopt authorizing resolution
Recommendation
A. Conduct public hearing
B. By motion approve the attached resolution
Body
WHEREAS, Sections 2.151 - 2.154 of the Blaine City Code authorizes the City Council to approve the use of the City's Capital Improvement Fund (CIF) for qualifying projects; and
WHEREAS, On April 19, 2012, a public hearing was held whereby Council considered the use of $1,900,000 from the CIF to finance the park development and improvements; and
WHEREAS, The development of a multi-use athletic facility to be known as the Lexington Athletic Complex and the improvements at Aquatore Park have sufficient community-wide benefit consistent with other City programs and goals; and
WHEREAS, The project would not otherwise occur but for financing from the CIF; and
WHEREAS, CIF financing is not proposed as an alternative to funding from another previously programmed or available source; and
WHEREAS, the expenditure of funds from the CIF meets all requirements of Sections 2.151 through 2.154 of the Blaine City Code.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Blaine that the use of up to $1,900,000 from the Capital Improvement Fund for the development of the Lexington Athletic Complex, and the installation of improvements to Aquatore Park is hereby authorized.