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7.2 PRSR 09-09-2020 The Elk River Vision A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community engagement that encourages and inspires prosperity Request for Action To Parks and Recreation Commission Item Number 7.2 Agenda Section Discussion Meeting Date September 9, 2020 Prepared by Michael Hecker, Parks and Recreation Director Item Description 2021-2022 Park Improvement Fund Reviewed by Cal Portner, City Administrator Reviewed by Action Requested Discussion of the 2021 and 2022 Park Improvement Fund projects. Background/Discussion Attached is a list of capital improvement projects scheduled for 2021. The funding availability is based on Liquor Store Fund transfers of $250,000 per year are pending per final approval by the City Council. The project costs are 2019 estimates and will be updated for the October meeting. Projects recommended for 2021 are:  Country Crossing Basketball Court Replacement - $50,000  Fresno Park Court Replacement- $30,000  Trott Brook Tennis Court Replacement - $150,000 Financial Impact $230,000 – Park Improvement Fund for 2020 Attachments  Park Improvement Fund Spreadsheet 2020-2025 City of Elk River Park Improvement Fund 2020 2021 2022 2023 2024 2025 Future Estimate Estimate Estimate Estimate Estimate Estimate Projects Cash Balance - Beginning $474,896 $28,812 $75,684 $103,556 $222,972 $322,472 $322,472 Revenues: Other Revenue Interest Income 2,500 500 1,500 2,000 4,500 6,500 6,500 Youth Baseball Association - Dugouts - 11,540 11,540 - - - - Youth Football - Oak Knoll Lights 7,416 7,416 7,416 - - - - Lacrosse - Oak Knoll Lights - 7,416 7,416 7,416 - - - Grants - - - - - - - Transfer In-Liquor Fund 200,000 250,000 250,000 250,000 250,000 250,000 250,000 Donations - - - - - - - Total Revenues 209,916 276,872 277,872 259,416 254,500 256,500 256,500 Expenditures:Notes Country Crossing Basketball Court Replacement - 50,000 - - - - - Country Crossing Playground Replacement - - - - 100,000 - - DAAC Field Improvements - - - - - - 510,000 Deerfield Basketball Court - - - - - - - Deerfield Park Basketball Court Replacement - - - - 25,000 - - Fresno Park Court Replacement - 30,000 - - - - - Reduce to Half Court Heritage Landing/Country Crossing Trail - - - - - 120,000 - Houlton restoration (FMR match)10,000 √- - - - - - Lions Park Master Plan - - - - - - - LJWP Park Playground - - 250,000 - - - - LJWP Basketball Court Replacement - - - - - - 75,000 Meets replacement age, continue to assess LJWP Trail Reconstruction - - - - - 203,000 - Mississippi Road Trail Reconstruction - - - - - 120,000 - Orono Park Trails Reconstruction - - - - - - 166,000 Seek alternate funding source Orono Park Plat 14,000 √- - - - - - Park Property Lines - - - - - - - Ridgewood Park Basketball Court Replacement - - - - 30,000 - - Rivers Edge - flagpole/dock - - - - - - - Sport Court Resurfacing - - - 40,000 - - - Trail Repairs & Connections - - - - - - - Trott Brook Tennis Court Replacement - 150,000 - - - - - Volleyball Nets 5,000 - - - - - - Woodland Trails Design Services - - - - - - - Woodland Trails Garage - - - 100,000 - - - Woodland Trails Grant/Match 387,000 - - - - - - Woodland Trails Survey - - - - - - - Woodland Trails Well/Concrete/ Shelter/Amenities 90,000 - - - - - - YAC Dugouts 150,000 - - - - - - Total Expenditures 656,000 230,000 250,000 140,000 155,000 #443,000 751,000 Revenues over/(under) Expenditures (446,084) 46,872 27,872 119,416 99,500 #(186,500) (494,500) Cash Balance - Ending $28,812 $75,684 $103,556 $222,972 $322,472 ##$135,972 ($172,028) 8/28/2019