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Attachment C <br />August 12, 2015 <br />At the August 11, 2015 Finance Commission meeting, the Commission discussed the utilization <br />of the City's Park Dedication Fees. The Commission concluded that in recognition of the City's <br />broader CIP needs, including the significant funding gaps that exists within the Park Improvement <br />Program; it is preferable that the Park Dedication fees be directed to replacing and improving <br />existing park system assets as opposed to acquiring new ones. <br />The Commission further recognized that any expenditure of Park Dedication fees must comply <br />with applicable State Laws. <br />