ADMINISTRATION - Nate Monahan, Program Supervisor
Title
ADOPTING THE 2015 - 2018 CIF INTEREST FUND PLAN FOR NEIGHBORHOOD PARK IMPROVEMENTS
Background
In 2014 the City Council adopted a program that set aside $200,000 a year over five years for improvements to neighborhood parks. The funding is to come from the interest earned in the Capital Improvement Fund (CIF). Staff has done an evaluation of all our neighborhood parks and developed a proposed 5-year program of projects which are reflected in the attached plan.
One discussion item, the proposed plan is recommending projects in three community parks: Aquatore, Happy Acres, and Airport Park. The original guidelines for the use of the CIF funds were to limit projects to neighborhood parks. The Parks Commission has reviewed the proposed plan and is recommending it to the City Council, including the use of funds for the community parks.
Recommendation
By motion, adopt the 2015 - 2018 CIF Interest Fund Plan for Park Improvements.