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Regular City Council Meeting <br />DRAFT Monday, March 12,2007 <br />Page 11 <br />� Mr. Brokke noted that the total State bond funds were $500,000, with <br />:� $40,000 reserved for archit�ctural/engin�er�ng fees, leaving $460,000; with <br />� $89,000 allocated from the City Building Replacement Fund. <br />� <br />� Mayor Klausing sought clarification on how use of these City Funds would <br />�� impact the fund itself and future needs for City facilities. <br />� <br />�� Finance Director Miller advised that staff had anticipated the need to draw <br />��� from these funds for this proj ect; and noted that there was currently ap- <br />1 l proximately $800,000 in funds at this time, with anticipated major refrigera- <br />l� tion proj ect funds required in the near future, in addition to any additional <br />1� facility improvements, none of which were anticipated at this time or within <br />1� the next five years, with the exception of the refrigeration project. Further <br />1� discussion included the anticipated need to replenish the fund over the next <br />1� 10-20 years; and how the only funding source was through annual interest <br />t� earnings at this time. <br />F� <br />1� <br />� <br />�] <br />�� <br />Further discussion included how priorities were established for use of these <br />funds, with staff advising that there was no established methodology at all, <br />with staff discussing some priorities and needs. <br />�� It was Council consensus, and Mayor Klausing directed staff to include dis- <br />�4 cussion of this Building Replacement Fund as part of the upcoming budget- <br />�� ing process, specifically as part of the structural budget requirements. <br />�E�} <br />�� Mr. Brokke noted that staff was in the process of seeking Requests for Pro- <br />�� posals (RFP's) for a geothermal study for the Skating Center. <br />�� <br />:�� Further discussion included the projected revenue sources to be realized <br />� 1 through updating and expanding the restroom facilities, specifically as it re- <br />�� lated to wedding and banquet rentals. <br />�� <br />� <br />�5 <br />� <br />37 <br />32� <br />�� <br />Mr. Brokke noted that the 2006 season had been an exceptional year for the <br />facility; recognized staff for their work; and expressed staffs desire to make <br />the facility become more effective and well-managed. <br />Roe moved, Pust seconded, authorizing the acceptance of the base bid (south <br />entry additior�lremodel) in the amount of $403,000; authorizing the accep�- <br />