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Why is it important? <br />Such tracking of our assets allows the City to <br />120 <br />o <br />predict and plan for funding to maintain high quality services. <br />121 <br />Where can I find out more about it? (URL) <br />122 <br />o <br />123 <br />PIP (Park Improvement Projects) <br />124 <br />What is it? <br />125PIP is part of the Capital Improvement Plan (CIP) and are <br />o <br />126mid-range project items that can be scheduled and planned for but need to <br />127be more closely prioritized than daily maintenance items that are more <br />128definite.These items are system wide (mulching of trees, ag-lime <br />129replacement,fence section replacements…), requires a budget more than <br />130daily maintenanceitems, addresses safety concerns (playground safety <br />131surface replenishing, field upgrades …..) helps to maintain community <br />132expected standards (amenities, sign maintenance, color coating of tennis <br />133courts…) and allows for more ongoing discussion. <br />134 <br />Why is it important? <br />135 <br />o <br />136This account is currently managed as a “Roll over Account” allowing a <br />137more strategic approach with projects and budgeting. This fund and the <br />138flexibility it allows is important to operations. <br />139 <br />Parks and Recreation Renewal Funds <br />140 <br />What are they? <br />The park renewal program has been going on for <br />141 <br />o <br />4-5 years. The project kickoff date was May 31, 2014. It was funded <br />142 <br />using a $19 million bond. Although nearing its end, there is about <br />143 <br />$400,000 left in the park renewal fund account and some of this will <br />144 <br />be used for ongoing projects. <br />145 <br />Note: There are outside restrictions on borrowing money for city <br />146 <br />use. You should spend borrowed money within about 3 years (rule <br />147 <br />of thumb for generally accepted practice). In the case of current <br />148 <br />park renewal funds, we are past the 3 year mark with the ultimate <br />149 <br />goal of making the funds go far, using the money wisely and not be <br />150 <br />overly rushed just to use it. Internal talks have been ongoing on <br />151 <br />how to spend this money to the IRS approval. (Southwest Roseville <br />152 <br />pocket park at Cleveland and Co Rd. B and 1716 Marion Street <br />153 <br />pocket park) <br />154 <br />Why is it important? <br />This was a major financial commitment by <br />155 <br />o <br />the City Council and Roseville citizens to maintain and upgrade our <br />156 <br />parks. These funds have been used for the Parks and Recreation <br />157 <br />Renewal Program thatis described in a section below. <br />158 <br />159 <br />Park Dedication Fees <br />160 <br />Parks and Recreation Primer draft January 23, 2018 <br />11 <br /> <br />