The South Billings Urban Renewal Association (SBURA) has asked the City Council to match $25,000 from the South Billings Boulevard Urban Renewal District (SBBURD) tax increment fund (TIF) to create a master plan for Optimist Park, located at Morgan Avenue and Hallowell. Although partly developed, the current master plan consists of only two maps. To ensure future improvements are suited to and appropriate for the park, a master plan needs to be created to control and limit further development, in accordance with the needs of the community and the limitations and constraints of the park site.

The City Council authorized a $10,000 contribution from the Fiscal Year 2014 (FY '14) Council Contingency Fund to the Parks, Recreation and Public Lands (PRPL) FY ‘15 budget. At a January 12, 2015, work session, the City Council unanimously approved an initiative to add an additional $15,000 from the FY '15 Council Contingency Fund to the PRPL budget. Approval of the attached resolution is necessary to complete the transfer, which is contingent upon the allocation of $25,000 of TIF from the SBBURD.

 City Council may:

• Approve the transfer of $15,000 from the FY '15Council Contingency Fund to the PRPL budget for the Optimist Park Master Plan, bringing the total City Council Contingency contribution to the plan to $25,000;
• Postpone action to another date; or
• Disapprove the contribution, which would mean a future master plan might have to be funded entirely by the City’s General Fund.

The FY '15 Council Contingency Fund has a balance of $62,752.96, leaving $47,752.96 in the fund if the proposed contribution is made.

Staff recommends that the Council approve a $15,000 contribution for the Optimist Park Master Plan be transferred from FY '15 Council Contingency to the PRPL budget to supplement the $10,000 contributed in the same way in FY '14 for a total of $25,000. The transfer is contingent on a $25,000 SBBURD match to help fund the study.