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HomeMy WebLinkAbout4. Park Capital Improvement Program Workshop Information CITY OF SHAKOPEE MEMORANDUM To: Mayor and City Council Mark McNeill, City Administrator From: Mark Themig, Parks, Recreation, and Facilities Director Meeting Date: February 22, 2005 Subject: Park Capital Improvement Program Workshop Information INTRODUCTION We have a workshop scheduled for February 22 to discuss the proposed projects and available funding in the Park CIP. The following information will outline funding, primary projects, and decisions that need to be made. BACKGROUND In July 2004, City Council reviewed a proposed 2005-2009 capital improvement program for parks. This program was eventually incorporated into the city's budget. However, it contained more projects than available funding. Since that time, we have completed additional design work for several of these projects such as Huber Park, the 1 ih Avenue Sports Complex building, and Greenfield west park. With this additional design work, we are able to update cost estimates. We also have the purchase price for the Shutrop parcel, a number that wasn't available last summer. However, the city's total financial commitment for the Shutrop parcel is still in question as County Road 21 right-of-way issues remain (see below). Finally, I met with Councilor Lehman and Mayor Schmitt to review the status of the Park CIP and discuss options to address the deficit. The options presented in this update do not reflect all of the changes that we discussed, particularly as it relates to funding for Huber Park (see below). DISCUSSION Park Reserve Balance As of January 31,2005, the Park Reserve Fund balance was $3,458,292.55. The only outstanding financial commitments for the Park Reserve Fund are a $20,000 contingency that we are holding for the 1 ih Avenue Sports Complex Phase 1 work, and approximately $55,000 in design fees for Huber Park. If we factor these amounts into the fund balance, our balance is $3,383,292.55. "Committed" Park Projects Although final authorization for some projects is forthcoming, there are several park reserve-funded projects that could be considered committed to funding in 2005. These are: Project Task Cost Estimate Skate Park Addition Construction 27,115 1 ih Avenue Sports Complex Building and ADA Mods 480,000 Quarry Lake Reuse Project Acquisition 250,000 Greenfield West Park Development Design and Construction 346,000 Southbridge Community Park Development Design and Construction 105,000 Total 1,208,115 "Priority" Project: Shutrop Property Acquisition In order to proceed with acquisition of the Shutrop property, this project needs to be considered a priority project for the city, and the necessary funding committed to cash- flow the acquisition and the potential carrying costs for the right-of-way. This is, by far, the most complicated project due to the unresolved County Road 21 right-of-way acquisition issues. As you are aware, the county doesn't have funding in its transportation improvement plan for the acquisition of the right-of-way. Therefore, the city would need to cash flow the right-of-way unless another funding opportunity can be identified. The most recent county proposal involves the use of federal highway funds to pay for the right-of-way under a "threat of development" or "hardship" scenario. Although the details have not been finalized at the time of writing this staff report, here is what I am able to report: . The County received $1 million for work on CR 21 as part of a federal funding package. . This funding expires on September 30,2005, so it must be committed by then. The county would like to use these funds for the right-of-way acquisition. . The funding can only be used for right-of-way acquisition if there is a threat of development or an existing property owner hardship. . In order to use the fund for right-of-way acquisition: ~ The City can not be in ownership of the property, nor can it have a purchase agreement in place. The federal government feels that if the city is in ownership or has a purchase agreement, there is no longer a threat of development nor a hardship for the current property owner. ~ The acquisition must be in the State Transportation Improvement Program, which requires approval from the Met Council. ~ The acquisition must be approved by the Federal Highway Administration. ~ The acquisition of the entire parcel must be based on "fair market value" of an appraisal performed on behalf of and accepted by the County Board. The Shutrop's asking price is below an appraised value, so the city's offer for the entire parcel would need to be made based on the fair market value. The Shutrops can counter-offJU' with a lower amount, and the difference would be considered a donation for tax purposes. (This is how the current transaction is structured.) . We are currently scheduled to close the sale of the property on or before March 11. Using the federal funding would require a delay in closing on some or all of the property. (See the county's estimated timeline Attachment A). We had a meeting with the Shutrops on February 16 where the county asked if they would be willing to delay the closing. The Shutrop's attorney had questions for me and I exchanged several phone messages but did not connect with him at the time of writing this report, so I don't have an answer yet. If the Shutrop's agree to a delay in the closing, there is a chance that the purchase price might change. If this were to occur, I would expect that the County would assume any additional costs that might be incurred. Of all the scenarios, this one seems to be the most likely way for the county to fund the acquisition in a timely manner, and eliminates the need for the city to cash-flow the right- of-way. However, this also results in yet another delay for the Shutrops in completing this transaction. I am grateful for their patience over the past few months as we have been working with the county to develop funding scenarios, but I also understand that they have some extenuating circumstances they are dealing with and may not be able to delay a closing. I've attempted to outline updated scenarios for funding this acquisition. The first has the city cash-flowing the acquisition of the right-of-way, the second has the federal funding applied to the right-of-way: Item Scenario 1 Scenario 2 City Cash Flow ROW Federal Funding Purchase Price 6,375,000 6,375,000 Funding Sources Park Reserve Fund Commitment 2,000,000 2,000,000 Sale of Land for Development 2,500,000 2,500,000 Fire Station Site 1 500,000 500,000 County Road 21 ROW - 720,750 Value of Pike Lake Trail Construction3 300,000 300,000 T otal4 5,300,000 6,020,750 Additional Park Reserve Funding 354,250 354,250 Required Cash-Flow Required 720,750 - 1. Councilor Lehman is suggesting an increase from $400,000. 2. This amount is based on 9.61 acres at the average appraised value (11/2004) of $75,OOO/acre. This amount could go up if: a) the new appraised value is higher, or b) ad.ditionalland is purchased for ponding or right-of-way. 3. Tollefson's very preliminary estimate for the cost to build Pike Lake Trail is $800,000. The portions proposed to be adjacent to the future park and fire station site would normally be city costs, but Tollefson is willing to pay for this segment of road, excluding wetland mitigation costs. This $300,000 represents funding from other city sources (CIF?) for the segment of roadway along the fire station and park. 4. The park dedication fees that the city might receive for the proposed development of the Shutrop property are not listed here but are shown in the CIP as part of the park dedication fee revenue anticipated for 2005 and future years. Using either of these scenarios, the park reserve fund commitment is more than the $2,000,000 committed in the adopted CIP. The attached "Revised 2005-2009 CIP with Proposed Modifications" reflects this increased commitment. If Council were to choose not to use the other funding sources identified above, we would need to make the correlating adjustments to the CIP. Proposed Project Delays In order to cash flow the Shutrop acquisition, there are several projects that were planned for 2005 that would require delays. These projects are highlighted in yellow on the "Revised 2005-2009 CIP with Proposed Modifications" sheet. The largest of the projects proposed to be delayed would be Huber Park. However, the revised CIP does provide some work in Huber Park, including the undergrounding of power lines, final fill, roadway and parking lot construction, and utility stubs. This would allow for the Community Built playground build scheduled for October. Other projects could be delayed to allow additional work on Huber Park to move forward, although each delayed project has implications. For example, a delay in Tahpah Park redevelopment may impact the 2008 State Baseball Tournament that Shakopee has planned; delaying the construction of the Dean Lake trail may forgo efficiencies in combining the work with the proposed outlet control structure project; and eliminating one of the proposed neighborhood parks could leave a newer and larger neighborhood without a useable park area. With this in mind, the following is a summary of the proposed changes: a) Quarry Reuse Project . Provides funding for acquisition only. b) Huber Park Improvements . 2005: Underground power lines. Bring in remaining fill based on plans. Construct roadway and parking lot for community-build playground. Stub utilities. (Approximately $125,000) . 2006: To be determined based on additional funding or change in project timing . 2007: To be determined based on additional funding or change in project timing c) Huber Park Riverbank Stabilization . Project delayed pending Army Corp feasibility study. d) Prairie Village Park . Delays any work on acquiring park land and development until 2007/2008. Although residents approached the Park Board and Council in 2001 about the need for a park to serve this area and suggested that we approach Beta Seed, Beta Seed doesn't appear ready to sell any of their property. e) ProvidencelWestchester Park . Delays construction until 2006. With the amount of design work required for this park, construction in 2005 is unlikely. f) Greenfield East/Park Meadows Park . Delays construction until 2007. This conforms more closely with the construction schedule for the Park Meadows development. g) Horizon Heights Park . Delays work on improvements until 2007. Given these proposed changes, the CIP shows a better financial picture, although it is at the expense of Huber Park. If your desire is to build Huber Park, it would require postponing some of the other projects or providing other revenue, such as an interfund loan or use of the general fund fund balance. Finally, as you will see, there are still some deficit years. The proposed park dedication fee revenue of $900,000 would require fees from about 193 single-family lots. Future changes would need to be addressed as park dedication revenue is monitored over the course of the five-year CI P. REQUESTED ACTION City Council is asked to consider the updated CIP and provide direction on the following questions: 1. Are you comfortable with moving ahead with the Shutrop property acquisition and the funding sources that are identified above? 2. Huber Park development is delayed pending additional funding, while other projects are planned to move forward. Would you prefer to have Huber Park move forward instead of other projects? 3. Would you consider providing additional funding through other sources that have been discussed previously, such as general fund fund balance or an interfund loan? 4. Do you have any other changes you would like made? f\ Federal Highway Authorization Timeline Requirements: 1) Project must be in approved STIP - requires amendment through Met Council 2) Project must receive environmental clearance, via a Project Memo (PM) 3) Must follow Federal RfW Acquisition regulations Week of: February 14 Order Appraisal, PM submitted Met Council T AC Funding and Programming subcommittee action (17th) February 21 February 28 Met Council T AC action (March 2) March 7 Anticipate PM Approval March 14 Receive Appraisal/Review Appraisal Met Council Transportation Committee action (14th) Met Council TAB action (16th) . March 21 State TIP Amendment Approved by Met Council (23Cd) County Board Approve Appraisal (22nd) March 28 FHW A Approve STIP Amendment FHW A review RfW acquisition process April 4 FHW A Authorize Project "Fair Market Value" Offer extended April 11 Negotiations April 18 Prepare Closing Documents April 25 Close May 2 \ Adopted 2005-2009 CIP Cost Funding Project Task Estimate Source 200S 2006 2007 2008 2009 Land Acquisition Acquisition Park Reserve Additional Acqusition Funding Park Reserve 17th Avenue Sports Complex (Building & ADA mods) Building, ADA Mods., Final Site Park Reserve Skate Park Addition Construction Park Reserve Minnesota River Boat Landing Relocation Design and Construction Grants Whispering Oaks Park Construction Donations Church Addition Park Construction Donations Quarry Lake Reuse Project Acquisition Park Reserve Design 25,000 Park Reserve 25,000 Construction 615,000 Grants 450,000 165,000 Construction 250,000 Donations 100,000 150,000 Huber Park Improvements. Park Construction 745,000 Park Reserve 745,000 Roadway Construction 50,000 Assessments 50,000 Park Building Design and Const. Park Reserve 220,000 Park Construction 250,000 Donations 250,000 Huber Park Riverbank Stabilization. Design and Construction Park Reserve Design and Construction Grants Community Playground System Construction lSO,OOO Donations 150,000 Tahpah Park Redevelopment Design and Construction 313,500 Park Reserve 313,500 Design and Construction 375,000 Tax Levy 375,000 Construction 140,000 Donations 140,000 Greenfield West Park Development Design and Construction 346,000 Park Reserve 346,000 Prairie Village Park Land Acquisition/Construction 157,SOO Park Reserve 157,500 Dean Lake Trail System Design and Construction 192,500 Park Reserve 192,500 Southbridge Community Park Development Design and Construction 800,000 Park Reserve 105,000 117 ,500 52,500 525,000 Improvement 20,000 Grants 20,000 ProvidencelWestchester Park Development Design and Construction 860,000 Park Reserve 860,000 Valley Creek Crossing Park Development Design and Construction 125,000 Donations 125,000 O'Dowd Lake Park Improvements Design and Construction 210,000 Park Reserve 210,000 Riverside Fields Park Development Design and Construction 262,500 Park Reserve 262,500 Greenfield East Park Development Design and Construction 860,000 Park Reserve 660,000 Horizon Heights Park Development Design and Construction 210,000 Park Reserve 210,000 CR 79 Trail to O'Dowd Lake Park Design and Construction 262,500 Park Reserve 262,500 Kilamey Hills Park Development Design and Construction 367,SOO Park Reserve 367,500 PUSL Channel Greenway Corridor Design and Construction 157,500 Park Reserve 157,500 10th & Spencer Park Development Design and Construction 50,000 Park Reserve 50,000 Mound & CR 79 Park Development Design and Construction 50,000 Park Reserve 50,000 Community Park Development Acquisition 1,050,000 Park Reserve 1,050,000 Lions Park Improvements Construction 130,500 Donations 25,500 45,000 60,000 Small Improvement Projects Construction 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 Small Trail Projects Construction 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 9,025,000 3,900,000 2,335,000 730,000 932,500 1,347,500 1/1 Beginning Balance 177 ,502 -1,749,898 -2,139,898 -1,180,498 -760,218 Park Dedication Fees $ 900,000 $ 900,000 $ 900,000 $ 900,000 $ 900,000 Grants 470,000 165,000 - Tax levy 375,000 - Assessments Xcel Agreement 500,000 500,000 500,000 500,000 Donations 690,500 145,000 210,000 SPUC Well Field and Watermain Interest 7,100 (70,000) (85,600) (47,220) (30,410) Revenue Total 2,150,102 195,102 (450,498) 172,282 609,372 Park Reserve Fund Expenditures 2,784,500 1,720,000 355,000 932,500 1,347,500 Expenditures Total (3,900,000) (2,335,000) (730,000) (932,500) (1,347,500) 12/31 Ending Balance -1,749,898 -2,139,898 -1,180,498 -760.218 -738,128 "2004 CIP included $500,000 from Park Reserve and $50,000 in donations for Huber Park. Revised 2005-2009 CIP with Proposed Modifications Cost Funding Project Task Estimate Source 2005 2006 2007 2008 2009 Land Acquisition Acquisition 2,000,000 Park Reserve 2,000,000 Additional Acquisition Funding 354,250 Park Reserve 354,250 17th Avenue Sports Complex Building, ADA Mods., Final Site 480,000 Park Reserve 480,000 Skate Park Addition Construction 25,000 Park Reserve 25,000 Minnesota River Boat Landing Relocation Design and Construction 145,000 Grants 145,000 Whispertng Oaks Park Construction 100,000 Donations 100,000 Church Addition Park Construction 215,000 Donations 215,000 Quarry Lake Reuse Project Acquisition 250,000 Park Reserve 250,000 Design 25,000 Park Reserve 25,000 Construction 615,000 Grants 450,000 165,000 Construction 250,000 Donations 100,000 150,000 Huber Park Improvements Park Construction 125,000 Park Reserve 125,000 Park Construction 25,000 Assessments 25,000 Park Construction 233,765 Donations 150,000 83,765 Huber Park Riverbank Stabilization Design and Construction Park Reserve Design and Construction Grants Community Playground System Construction 1SO,000 Donations 150,000 Tahpah Park Redevelopment Design and Construction 313,500 Park Reserve 313,500 Design and Construction 375,000 Tax Levy 375,000 Construction 140,000 Donations 140,000 Greenfield West Park Development Design and Construction 346,000 Park Reserve 346,000 Prairte Village Park Land Acquisition/Construction 357,500 Park Reserve 200,000 151,500 Dean Lake Trail System Design and Construction 192,500 Park Reserve 192,500 Southbrtdge Community Park Development Design and Construction 800,000 Park Reserve 105,000 117 ,SOD 52,500 525,000 Improvement 20,000 Grants 20,000 Providence/Westchester Park Development Design and Construction 860,000 Park Reserve 860,000 Valley Creek Crossing Park Development Design and Construction 125,000 Donations 125,000 O'Dowd Lake Park Improvements Design and Construction 210,000 Park Reserve 210,000 Riverside Fields Park Development Design and Construction 262,500 Park Reserve 262,500 Greenfield East Park Development Design and Construction 860,000 Park Reserve 860,000 Horizon Heights Park Development Design and Construction 210,000 Park Reserve 210,000 CR 79 Trail to O'Dowd Lake Park Design and Construction 262,500 Park Reserve 262,500 Kilamey Hills Park Development Design and Construction 367,500 Park Reserve 367,500 PLlSL Channel Greenway Corridor Design and Construction 157,SOO Park Reserve 157,500 10th & Spencer Park Development Design and Construction 50,000 Park Reserve 50,000 Mound & CR 79 Park Development Design and Construction 50,000 Park Reserve 50,000 Community Park Development Acquisition 1,050,000 Park Reserve 1,050,000 Lions Park Improvements Construction 130,500 Donations 25,500 45,000 60,000 Small Improvement Projects Construction 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 Small Trail Projects Construction 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 12,333,015 5,681,750 2,213,765 2,000,000 1 ,090,000 1,347,500 1/1 Beginning Balance 3,383,292.55 2,043 -112,951 -337,957 -27,957 Park Dedication Fees $ 900,000 $ 900,000 $ 900,000 $ 900,000 Park Meadows $ 426,000 Countryside $ 238,000 Shutrop (Tollefson) $ 186,000 Grants 145,000 410,000 165,000 Tax levy 375,000 Assessments 25,000 Xcel Agreement 500,000 500,000 500,000 500,000 Donations 905,500 228,765 210,000 - Revenue Subtotal 5,683,793 2,100,808 1,662,043 1,062,043 1,372,043 Park Reserve Fund Expenditures 4,231,250 1,515,000 1,625,000 1,090,000 1,347,500 Expenditures (5,681,750) (2,213,765) (2,000,000) (1,090,000) (1,347,500) 12/31 Ending Balance 2,043 -112.957 -337,957 -27,951 24.543 Represents projects proposed to be delayed. CITY OF SHAKOPEE MEMORANDUM To: Mayor and City Council Mark McNeill, City Administrator From: Mark Themig, Parks, Recreation, and Facilities Director Meeting Date: January 18, 2005 Subject: Updated 2005-2009 Park Capital Improvement Program INTRODUCTION Attached is an updated CIP funding schedule based on the proposed park projects. DISCUSSION The following updated CIP list was provided in your December 21 packet. The left section contains the project list that was reviewed in July as part of the budget process and included in your budget book. The right section is updated with revised financial information and timing for projects that are being considered. This section also includes projects yet to be completed from 2004. The yellow highlights in the right section show where changes to the CIP have been proposed to reflect the change in costs or project timing. In neither the adopted funding program nor the revised one are there adequate funds to complete the projects that have been identified in the timeline proposed. The increased costs of the projects, particularly Huber Park, only complicates the funding issue. /' Finance Director Voxland has provided the following overview of city funding sources that could be considered for ark ro'ects: Source Eli ible? Comments General Fund Fund Balance Yes Currently at target balance, excluding an 2004 unders end Interfund Loan Yes Voxland recommends 5 year payback plan from any of the following sources: . General levy . Park reserve Sanitary Sewer Fund Yes Has only been used for sanitary in the past. Using it for riverbank work would be a chan e in hiloso h . Storm No Not Ie al CIF No Not Ie al Buildin No Inade uate resources REQUESTED ACTION With the additional funding options being pursued for Huber Park and the Shutrop property, the funding picture could change substantially, so it is difficult to prOVide you with any further clarification on the CIP. Please provide direction as you deem appropriate. Shutrop Update - ADDITIONAL INFORMATION Page 1 of3 Mark Themig From: McElhatton, Shaun [shaun.mcelhatton@leonard.com] Sent: Tuesday, February 22, 2005 4:37 PM To: Mark Themig; Greg IIkka Cc: Mark McNeill; Bonnie Wilkins; Matt Weiland; Vermillion, Lezlie; dunmacht@co.scott.mn.us; Naples, David Subject: RE: Shutrop Update - ADDITIONAL INFORMATION Mark--thanks for copying me. Your email accurately describes our conversation, but I want to make it clear that if the closing is delayed, the Shutrops will reevaluate their options for the property and may decide not to sell to the City. The 1.5%/month price increase would be the minimum increase that the Shutrops would be willing to consider in connection with a delayed closing, and they reserve the right to add additional costs (such as financing expenses) to the purchase price, or to sell to a third party. If we can close now, the Shutrops are willing to stick with the original deal, even though the closing is later than originally agreed. If closing is delayed further, all bets are off, and the Shutrops will have to reevaluate their options. Please call with any questions. Shaun McElhatton Leonard, Street and Deinard 150 South Fifth Street, Suite 2300 Minneapolis, MN 55402 Phone: (612) 335-7086 Fax: (612) 335-1657 Email: shaun.mcelhatton@leonard.com -----Original Message----- From: Mark Themig [mailto:MThemig@ci.shakopee.mn.us] Sent: Tuesday, February 22, 2005 3:48 PM To: 'Greg I1kka' Cc: Mark McNeill; 'Bonnie Wilkins'; 'Matt Weiland'; 'Vermillion, Lezlie'; 'dunmacht@co.scott.mn.us'i McElhatton, Shaun Subject: Shutrop Update - ADDmONAL INFORMATION Importance: High I heard back from Shaun McElhatton, the Shutrop's attorney. The Shutrop's position is that they want to close on the property as a single transaction, and the closing needs to happen as planned in March in order for the terms of the sale to remain the same. If there was to be a delay in closing, the sale price would raise 1.5% of the appraised property value {$7, 725,000) for each month that the closing is delayed. This increase would be retroactive to the date of the appraisal, which waS November 2004. (I've cc'd Mr. McElhatton on this email for his review to be sure that I reflected the Shutrop's position accurately.) If we did not close as planned in March, here is what the new purchase price would be assuming a closing at the end of April: . Asking Price: $6,375,000 . Monthly increase: 1.5% X $7,725,000 = $115,875/month . Delay in closing until April: 6 mos X $115,875/month = $695,250 increase . New asking price: $7,070,250 2/22/2005 Shutrop Update - ADDITIONAL INFORMATION Page 2 of3 I don't think the city will be in a position to assume additional costs for the overall acquisition, so unless the County can assume the increased costs, it's looking like waiting for the federal funding is less of an option. City Council has a Park CIP work session tonight, and this acquisition is part of the discussion. City Council seems to be willing to "cash flow" the right-of- way amount. If there is anything that the County would like me to relay to Council, I'd be more than happy to, or if someone from the County would like to attend, that might be helpful. The meeting is at 6:00 p.m. at City Hall. I apologize for the late notice. I was not able to connect with Mr. McElhatton until today. Mark Themig, Director Parks & Recreation, Natural Resources, and Facilities City of Shakopee 1255 Fuller Street South Shakopee, Minnesota 55379 952-233-9514(p) * 952-233-3831 (f) -----Original Message----- From: Mark Themig Sent: Tuesday, February 22,20052:51 PM To: Greg Ilkka ec: Mark McNeill; Bonnie Wilkins; 'Matt Weiland'; Vermillion, Lezlie Subject: Shutrop Update - COUNIY INFORMATION NEEDED Importance: High I just spoke with Shaun McElhatton, theShutrop's attorney, about the proposal to delay the closing until late April. According to Shaun, the Shutrops need a "significant" amount of money by the middle of March. They are not able to delay closing on the entire parcel until April without some cash. Since it sounds like we can't enter into a purchase agreement and have the County still qualify for the federal dollars, we can't provide them earnest money. I asked Shaun if the city were to close on the portion that would be conveyed to Tollefson, would the $2.5 million be adequate until we were able to close on the remainder of the property. Shaun thought that that might work, but he needs to review the tax implications. He also needs to discuss this with the Shutrops. I spoke with Matthew Weiland from Tollefson this afternoon, and they are prepared to move forward with a closing. ( Greg... I left you a voice mail and wanted to follow-up by email. Were you able to get an answer on whether the property can be split into two transactions and still qualify for the federal funding? I have a workshop with Council tonight and the Shutrop property is an item for discussion so it would be helpful to know the answer for the meeting. Mark 233-9514 2/22/2005 - CITY OF SHAKOPEE MEMORANDUM To: Mayor and City Council Mark McNeill, City Administrator From: Mark Themig Date: February 21, 2005 Subject: Additional Information for Tuesday's Work Session. The way the modified CIP is structured in your packet, the only projects that are "delayed" are Huber Park, Prairie Village Neighborhood Park land acquisition and park development, and Horizon Heights. The remaining projects in the CIP progress mostly as planned, with some minor delays in timing of Providence Point/Westchester park and Greenfield/Park Meadows park. Project Reductions/Delays/Eliminations Council Lehman would like to see dollars available for Huber Park, and Councilor Menden has requested a list of projects that could be delayed, reduced, or eliminated in - order to move Huber Park forward. I have put together a list of projects for your consideration. These appear to have the least impact: Project/Comments Action Amount Prairie Village Park Delay 357,500 . Residents requested that the city work to locate a park on Beta Seed property to serve this neighborhood. Beta Seed is not in a position to sell at this time. O'Dowd Park Improvements Delay 210,000 . Temporary improvements made in 2004 have addressed many of the issues. Horizon Heights Park Development Delay 210,000 . Park area would remain natural and undeveloped. . Park development in future residential in the area could serve these residents. CR 79 Trail Delay 262,500 . No need to construct the trail with delaying O'Dowd park development. Prior Lake/Spring Lake Channel Corridor trail Eliminate 157,500 . Could work to construct trails as part of the development / process. South bridge Park Development Reduce 275,000 . Reduce funding for the MNDOT parcel 75 from $525,000 to $250,000, which better reflects the limited development proposed for the parcel. Total 1,472,500 Tahpah Park The one project that is not included on the list for reductions is Tahpah Park. The proposed improvements for Tahpah would prepare the park for the 2008 State Tournament, address fencing issues, and construct an additional full-size baseball field (paid for by donations). Huber Park With the proposed changes and a proposed $1.2 million interfund loan that would be fully paid back by 2008 from park reserve funds, there would be adequate funds to complete the $1.4 million in improvements that Council agreed to commit to Huber Park in 2006. Instead of an interfund loan, the actual construction of Huber could be delayed or phased in with smaller amounts over the next few years. However, that means a park that is under ongoing development with more limited usability. Xcel Agreement The proposed funding from the Xcel agreement is shown as part of the revenue in both revised CIP's. Updated CIP The attached updated CIP sheet outlines the delays, project reductions, and project eliminations shown above. As you will see, it still shows a deficit in 2009, which would need to addressed in future CIP's. . . Revised 2005-2009 CIP with Proposed Modifications (2/21/2005) Cost Funding Project Task Estimate Source 2005 2006 2007 2008 2009 Land Acquisition Acquisition 2,000,000 Park Reserve 2,000,000 Additional Acquisition Funding 354,250 Park Reserve 354,250 17th Avenue Sports Complex Building, ADA Mods., Finai Site 480,000 Park Reserve 480,000 Skate Park Addition Construction 25,000 Park Reserve 25,000 Minnesota River Boat Landing Relocation Design and Construction 145,000 Grants 145,000 Whispering Oaks Park Construction 100,000 Donations 100,000 Church Addition Park Construction 215,000 Donations 215,000 Quarry Lake Reuse Project Acquisition 250,000 Park Reserve 250,000 Design 25,000 Park Reserve Construction 615,000 Grants 165,000 250,000 Donations 150,000 1,400,000 Park Reserve ilL 25,000 Assessments Park Construction 233,765 Donations 83,765 ;m~'i~iWjJf11&.'!~Ja.~'I')IF _, Design and Construction Park Reserve Design and Construction Grants Community Playground System Construction 150,000 Donations 150,000 T ahpah Park Redevelopment Design and Construction 313,500 Park Reserve 313,500 Design and Construction 375,000 Tax Levy 375,000 Construction 140,000 Donations 140,000 Greenfield West Park Development '. ..... Design and Construction 346,000 Park Reserve 346,000 Ifi'I!I111.gm!li!ll-)~jlibdl&;iM;!{iw._",,!..&!q, 'iJj Land Acquisition/Construction 357,500 Park Reserve Dean Lake Trail System Design and Construction 192,500 Park Reserve 192,500 Southbridge Community Park Development Design and Construction 525,000 Park Reserve 105,000 117,500 52,500 ;'9;1[1. improvement 20,000 Grants 20,000 j'l~.~.ill_,lJlllll1l~tqPl!l_1 Design and Construction 860,000 Park Reserve Wht'lD'1! _Ji_;~~C&;y!~eTent!~]%,;, ~:::g~ :~~ ~~::~~~::~~ 125,000 Donations 125,000 AL..... .............. !llL........ . !Iii g 210,000 Park Reserve River~icj;Fi.;lds Park Development Design and Construction 262,500 Park Reserve 262,500 ;;~il~,,,.."~il@lllli 'W Design and Construction 860,000 Park Reserve .w'il!l. . Design and Construction 210,000 Park Reserve ar.JIjrj'liiIi!!!1", ' JilIhh' Design and Construction 262,500 Park Reserve Kilamey Hills Park Development Design and Construction 367,500 Park Reserve 367,500 .,pi j.,fnI\J;l\~~l\'lPi1\wfilC~mw.. Design and Construction Park Reserve 10th & Spencer Park Development Design and Construction 50,000 Park Reserve Mound & CR 79 Park Development Design and Construction 50,000 Park Reserve 50,000 Community Park Deveiopment Acquisition 1,050,000 Park Reserve 1,050,000 Lions Park Improvements Construction 130,500 Donations 25,500 45,000 60,000 Small Projects Construction 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 100,000 Park Reserve 20,000 20,000 20,000 20,000 20,000 1,200,000 Park Reserve ~Q1QDi;Milllili_.ll1l 14,375,515 5,681,750 3,278,765 1,727,500 1,457,500 2,230,000 1/1 Beginning Balance 3,383,292.55 2,043 22,043 69,543 12,043 Park Dedication Fees $ 900,000 $ 900,000 $ 900,000 $ 900,000 Park Meadows $ 426,000 Countryside $ 238,000 Shutrop (Tollefson) $ 186,000 145,000 470,000 165,000 375,000 25,000 500,000 500,000 500,000 500,000 905,500 228,765 210,000 .i1111I1i Revenue Subtotal 5,683,793 3,300,808 1,797,043 1,469,543 1,412,043 Park Reserve Fund Expenditures 4,231,250 2,580,000 952,500 657,500 2,230,000 Expenditures (5,681,750) (3,278,765) (1,727,500) (1,457,500) (2,230,000) 12/31 Ending Balance 2,043 22,043 69,543 12,043 -817.957 projects with proposed changes.