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lime replacementandfence and playground section replacement for example. <br />They address safety concerns like playground surface replenishing, and field <br />upgrades.Plus they also help to maintain community expected standards <br />such as repairing parkamenities, sign maintenance, and the color coating of <br />tennis courts. <br />Why is it important? <br />The PIPaccount is currently managed as a “rollover account” allowing a more <br />strategic approachby rolling thecumulative balance forward until the project <br />is compete.This fund and the flexibility it allows areimportant to operations. <br />Where can I find out more about it? (URL) <br />https://www.cityofroseville.com/768/Budgets-Annual-Reports <br />Parksand Recreation Renewal Funds <br />What are they? <br />The parkand recreation renewal programprojects began onMay 31, 2014. It <br />was funded using a $19 million bond. Although nearing the program’send, <br />there is about $400,000 left in the park renewal fund account and some of this <br />will be used for ongoing projects. <br />Note:There are outsidegenerally accepted accounting principles on <br />borrowing money for city use. Borrowed money should be spent within about <br />3 years (rule of thumb for generally accepted practice). In the case of current <br />parkand recreationrenewal funds, we havepassedthe 3 year markbut the <br />projects have been identified and in most cases contracted out with the goal <br />of making the funds go further,using the money wisely and not being overly <br />rushed just to spendit. Internal talks have been ongoing on how to spendany <br />remaining funds wiselyto meetthe principlesand the spirit in which it was <br />intended. <br />Southwest Roseville pocket park at Cleveland and Co Rd. B and 1716 Marion <br />Street pocket parkarebothbeneficiaries of this planning. <br />Why is it important? <br />The Parks and Recreation Renewal programwas a major financial <br />commitment by the City Council and Roseville citizens to maintain and <br />upgrade our parksand recreation system.These funds have been used for <br />the Parks and Recreation Renewal Program thatis described in a section <br />below. <br />Park Dedication Ordinance and Fees <br />What is it? <br />The City of Roseville and other communitiescommonlyrequirenew <br />residential, commercial or industrial development to either dedicate land for <br />park space,to pay a fee in lieu of dedicating landor a combination of each <br />6 <br /> <br />