02-22-07 PTRC - Laserfiche WebLink

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• Partnership Opportunities: Eagan Parks and Recreation has historically welcomed sponsorship and partnership opportunities. In recent years, a sponsorship policy has been developed to guide the City on its dealings with external sponsors. The APrC is currently working on a donor recognition policy that will help with those opportunities. While partnerships are always welcome and a valuable part of the Parks system, they tend to be project or amenity specific rather than supportive of general parks operations or CIP lists. As such, they are typically not perceived as a revenue stream to fund CIP projects. COUNCIL CHARGE: SET GOALS FOR FUTURE FUNDING INITIATIVES AND DETERMINE FUNDING SOURCES FOR SPECIFIC GOALS The APrC met in September of 2003 to discuss future steps to supporting UP funds. They reviewed the annual cost of maintaining the parks system as-is, with no new development and no additional amenities. They determined that to maintain the status quo of the parks system_, it seemed reasonable to depreciate current Park Site Fund assets at $245,000 per year. Hypothetically, if no additional funds were added, the Park Site Fund would run out in 12 years just on holding the current park system, replacing depreciated amenities and regular replacements such as playground equipment, tennis courts, etc. Park Site Funds are used for CIP park development projects only, and by statute are not to be used in the general maintenance of a park or its amenities. Of course, there will likely be some income from parks dedication, so the estimated 12 years may be conservative. On the other hand,maintaining the status quo has not been the only function of the Park Site Fund. It is also used for acquisition,park development, Master Planning,new amenities, and the like. The status quo of expenditure actually reduces the 12- year estimate for depletion of existing Park Site Fund. Therefore, as revenue from parks and trails dedication decreases, it becomes urgent that a solid, identifiable source of revenue be identified before Park Site Funds can not support a conservative CIP. The APrC came up with three recommendations for Council to consider. RECOMMENDATIONS After over a year of research, workshops, discussion, and analysis, the Advisory Parks Commission has compiled its findings pertaining to alternative funding streams for City of Eagan parks. • Short-term: Discuss the logistics of a referendum to be used for acquisition and development projects. Also, use the existing park site fund for renewal/replacement, at approximately $245,000 per annum. • Long-term: Consider raising the levy, within the boundaries set by the state legislature. Consider a dedicated fund for renewal, development, and purchase of park amenities. • Continuous: Grants,donorships,and sponsorships will be pursued whenever possible. Grant funds tend to be project-specific and can not be considered a replacement to a continuous funding stream,but they are a very welcome supplement.