4.10. SR 04-03-2017 Eclty1� ,.,�� Request for Action
River
To Item Number
Mayor and City Council 4.10
Agenda Section Meeting Date Prepared by
Consent Aril 3, 2017 Lori Ziemer, Finance Director
Item Description Reviewed by
Pinewood Golf Course Start Up Funds Cal Portner, City Administrator
Reviewed by
Action Requested
Approve,by motion,funding for the startup of Pinewood Golf Course operations and internal loan
resolution.
Background/Discussion
On March 6,2017, the City Council approved the management agreement with Elk River Country Club
for the operations of Pinewood Golf Course through December 31, 2018.
In preparation for the 2017 golf season, Elk River Country Club has requested $20,000 of startup funds
for the prepping and maintenance of the course and facilities.
Financial Impact
It is proposed to cover these startup funds with an internal loan from the GRE Reserve Fund,with the
anticipation that the funds will be repaid from Pinewood Golf Course operations at the end of the 2017
season.
Attachments
■ Interfund Loan Resolution
POWERED 6T
Template Updoted 4/14 INAWRE1
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City of
Elk City of Elk River
Wver City Council
Resolution 17-
A Resolution of the City Council of the City of Elk River Authorizing an
Interfund Loan for Pinewood Golf Course Startup Funds
WHEREAS, the city owns Pinewood Golf Course and has determined that the continued
operation of the golf course would serve a public purpose and provide a benefit to its
residents.
WHEREAS, the city has approved a management agreement with Elk River Country Club
for the purpose of operating,managing and maintaining Pinewood Golf Course.
WHEREAS, it is deemed in the best interest of the community to approve the interfund
loan to provide startup funds for the operations of Pinewood Golf Course.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Elk
River,Minnesota, as follows: Authorize the interfund loan of$20,000 for the startup of
Pinewood Golf Course from the GRE Reserve Fund.
Passed and adopted this 3rd day of April 2017.
John J. Dietz,Mayor
ATTEST:
Tina Allard, City NATUREJ