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Consent 1.O.

Regular City Council Meeting

Meeting Date:: 03/28/2011
TITLE: SID 1392 and PMD 4040 Yellowstone Family Park Resolution of Intent to Create District and Set a Public Hearing
PRESENTED BY:: Mike Whitaker
Department:: Parks/Rec/Public Lands

Presentation:

Information

PROBLEM/ISSUE STATEMENT

The Yellowstone Family Park Master Plan was approved at the February 14, 2011 City Council Meeting. To complete the improvements identifed in the master plan, it was determined that a Special Improvement District (SID) will be formed to provide the funding. Landscape improvements to the park generally include trees, shrubs, turf grass, native vegetation, irrigation system , trails, sidewalk, playground, shelter and related equipment. The Park Benefit District includes 386 properties. If approved, design and construction of the park will begin this fall and be completed next spring. Along with the SID for construction, a Park Maintenance District (PMD) will also be created to fund the ongoing maintenance of the improvements.

ALTERNATIVES ANALYZED

Approve the Resolution of Intent to Create SID1392, PMD 4040 and set a public hearing for April 25, 2011; or
Do not approve the Resolution of Intent to Create SID 1392 and PMD 4040.

FINANCIAL IMPACT

The total estimated costs of the improvements are $1,260,000.00. The costs of the improvements are to be paid from the sale of Special Improvement District bonds.

The cost of maintenance for Yellowstone Family Park will be met by the property owners in the Park Benefit District through the creation of a Park Maintenance District.

RECOMMENDATION

Staff and the Parks, Recreation and Cemetery Board recommends that Council approve the Resolution of Intent to Create SID 1392, PMD 4040 and set a public hearing date for April 25, 2011.

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