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Park Fund Balance(#2271 <br /> As of December 12, 1995 $522,420 - <br /> Estimated Interest Allocation 4th quarter 1995 $9,000 <br /> $522,420 + $9,000 = $531,420 <br /> Veit Payment#3for Perry Park Improvements=$70,702.06 <br /> $531,420 - $70,702.06= $460,717.94 <br /> Remaining amount retained(bills) from the Perry Park Project is approx. S15,000 <br /> This does not include the play structure <br /> Estimated fund balance in 1995 after 4th payment is $460,717 - $15,000= 445 717 <br /> 1996 Estimated Revenues <br /> Park Dedication Fees <br /> Town homes of Lake Valentine (Dan Ogren) $8,012.52 <br /> Control Data/Danamark <br /> Belfany Housing Development <br /> Amble Housing Development <br /> -Control Data is splitting off some of their property. Some park dedication fees may be generated <br /> from this development. It may be in the City's best interest to obtain property for a parking lot at <br /> Cummings rather than cash in lieu. I will keep the Committee updated as the project continues. <br /> -The Amble and Belfany developments will be small. I would expect to recommend cash in lieu <br /> of land. I do not have an estimate at this time. <br /> Confirmed Perry Park Contributions <br /> Light Brigade $24,000($2,000) each month <br /> St. Mary's Romanian Orthodox Church $10,000 <br /> Little Lakes Little League $ 2,500 <br /> Burlington Northern Foundation $ 2,000 <br /> $38,500 <br /> Estimated 1996 Revenue should be $38,500 + $8012.52 =$46,512.52 at a minimum <br /> Park Fund Balance after Perry Park improvements in 1996 $445,717 <br /> 1996 Estimated Revenue + 46 512 <br /> $492,229 <br /> 1996 Expenditures <br /> 1996 Park Fund Budgeted Improvements $40,000(trails) $3,000 (gardens)=$43,000 <br /> Estimated year end 1996 Budget without interest allocation is 44$ 9,229 <br />