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Finance Commission Minutes June 13, 2017 – Draft Minutes Page 3 of 6 Finance Director Miller stated the City receives about $1 million in State Aid Funds and special 91 assessment revenue. He explained that the City Council has not acted on the Commissions’ 92 recommendation to utilize $400,000 from the Park Dedication Fund and 2/3 of future park 93 dedication fees. 94 95 Chair Schroeder asked if the Commission should discuss their recommendation for the park 96 dedication fees with the City Council. 97 98 Commissioner Bachhuber asked if the City had made any funding decisions for the new club 99 house at the Golf Course. 100 101 Finance Director Miller the City Council has not made any final decisions on the funding for the 102 club house and the club house would not be included in the CIP because it is a new building. 103 The City had discussed utilizing the reserves in the Golf Course Fund, the remaining funds from 104 the Park Renewal Program, using the Park Dedication Fund, and issuing new obligation bonds 105 that would be repaid with tax levy dollars. 106 107 Chair Schroeder stated it would be more likely that the City would use the Park Dedication Fund 108 for the new club house versus adding it to the Park Improvement Program CIP. 109 110 Commissioner Bachhuber stated if the Park Dedication Fund was utilized for the new club house 111 then the City will have to look at what the levy would have to be in order to support the Park 112 Improvement Program CIP. The Commission could present the scenario that uses the park 113 dedication fund for the CIP as the best scenario for the City and suggest the City look at other 114 alternatives for the club house or the City will have to find other means of funding the CIP. 115 116 Chair Schroeder stated the current recommended scenario does not include the Oval and if they 117 need to include this the outlook would change dramatically. The total costs for the Oval and the 118 club house is about $5.3 million and there are no definite funding strategies for these items. 119 120 Commissioner Zeller stated until the City Council makes a decision on the use of the Park 121 Dedication Fund the Commission should continue to present the current scenario as their 122 recommendation for the Park Improvement Program CIP Fund. 123 124 125 Continue Discussion on the CIP Document Format & Priority-Ranking (Scoring) 126 Methodology 127 128 Chair Schroeder stated the City Council had adopted the Commissions’ recommendation for 129 establishing a CIP priority ranking system. Those rankings were incorporated into the City’s 130 Capital Improvement Policy. The Commission may want to consider how these rankings might 131 be assigned to individual items contained in the CIP. 132 133 Finance Director Miller stated the City is in the process of assigning condition ratings to all of 134 its’ assets but this has not been completed. Staff did prepare project/initiative summaries for 135 Item #3: Attachment A