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The Park Dedication Fund has a current balance of approximately $1.23 million. Prior to <br />2005, the Fund had a negative cash balance due to the acquisition of parkland adjacent to <br />Langton Lake Park which was eventually financed by Park Dedication fees. <br />I have included a draftCapital Funding Policy provided by Mayor Roe for discussion <br />purposes. The City Council has suggested that you providea recommendation on how you <br />think the Park Dedication Fund should be earmarked/allocated. <br />For additional guidance, please refer to the goals and policies from the previous Park <br />Dedication item. <br />Requested Commission Action: <br />Discussion. <br />Update on Cedarholm Golf Course Review <br />7. <br />Commission committeerepresentatives Chair Stoner and members Holtand Gelbach <br />continue their work on the Golf Course review. They met with representatives of the <br />Finance Commissionon August 19, 2015 (agenda attached)and plan to meet again in <br />September.They alsoplan to discuss the use of Park Dedication Fundswith themas <br />suggested by the City Council.They will be prepared to provide you with a verbal update at <br />the meetingand ask for your continued thoughtsand input. <br />Please be prepared to provide your input and guidance as they are representing the <br />Commission at thesemeetings. <br />Requested Commission Action: <br />Update, discussionandguidance. <br />Parks and Recreation Renewal Update <br />8. <br />Staff will be prepared to provide to you a facility virtual tour and status of projects. Included <br />in your packet is a photo map that will be presented as a PowerPoint at your meeting as <br />well as a status update matrix of all projects. <br />Staff Report <br />9. <br />Other <br />10. <br />Adjournment <br />11. <br /> <br />