HomeMy WebLinkAboutA023 - Memo from Finance Director dated July 25, 2001 - payment for park improvements and equipment Memo
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TO: Brian O'Connell, Planning and Housing Director
Nancy Carroll, Parks and Recreation Director
Paul Wieigand� Public Works Director
FROM: buane Pitcher, i ance Director
DATE: July 25, 2001
SUBJECT: Uthe Park Development Funding
The development agreement for the Uthe Farm property requires that payment be made to the
City in the amount of $80,000 for park improvements and equipment for a park site to be
deeded to the City. Of the $80,000, $40,000 will be received directly from the developer and
$40,000 will be transferred from electrical utility in exchange for an easement provided in the
development. The funds will be placed in the Park Development Fund (110) and should be
programmed in the upcoming Capital Improvement Plan for development of the Uthe Farm
Park.
A separate CIP should be established for the park and the entire $80,000 should be spent on
the park per the agreement. There is no time requirement in the development agreement on
when the park improvements should be completed.
c: Steve Schainker, City Manager
Carol Collings, Budget Officer
Lynn Brennan, Public Works Administrative Assistant