ADMINISTRATION - Nate Monahan, Recreation Manager
Title
ADOPTING THE 2018 CIF INTEREST FUND PLAN FOR PARK IMPROVEMENTS
Background
In 2014 the City Council the City Council adopted a program that set aside $200,000 a year over five years for improvements to parks. The funding is to come from the interest earned in the Capital Improvement Fund.
*The Finance Department has informed staff interest for the Capital Fund is projected to only generate $165,000 in 2018, so the budget is now been updated to reflect this change.
Staff has evaluated all parks and developed a plan of projects for 2018 which is attached.
The park board has reviewed the proposed plan and is recommending it to City Council.
Recommendation
By motion, adopt the 2018 CIF Interest Fund Plan for Park Improvements.