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Modifications to 2009-2013 Park & Trail Acquistion and Development Capital Improvement Program CITY OF CHANHASSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN 55317 Administration Phone: 952,227,1100 Fax: 952,227.1110 Building Inspections Phone: 952,227,1180 Fax: 952,227,1190 Engineering Phone: 952,227,1160 Fax: 952,227.1170 Finance Phone: 952,227.1140 Fax: 952,227,1110 Park & Recreation Phone: 952,227.1120 Fax: 952,227.1110 Recreation Center 2310 Coulter Boulevard Phone: 952,227.1400 Fax: 952,227,1404 Planning & Natural Resources Phone: 952,227,1130 Fax: 952,227.1110 Public Works 1591 Park Road Phone: 952,227,1300 Fax: 952,227,1310 Senior Center Phone: 952,227.1125 Fax: 952,227.1110 Web Site www.ci.chanhassen.mn.us 3 MEMORANDUM TO: Park and Recreation Commission -4( FROM: Todd Hoffman, Park & Recreation Director DATE: March 24, 2009 SUBJ: Modifications to 2009-2013 Park & Trail Acquisition and Development Capital Improvement Program On February 24,2009, the Park and Recreation tabled this item to the March meeting. Staff has further reduced the projected park dedication revenues in years 2009 and 2010 to $200,000 per year. Looking forward, we conservatively estimate that the park dedication fund will generate in excess of $20,000,000 as the city fully develops. The actual cash generated may be substantially more or slightly less depending on how much land is eventually acquired in lieu of accepting park dedication fees. However, in our current economy it is important that the Commission adjust forecasted capital expenditures downward to match the performance in the fund. ATTACHMENT 1. February 25,2009 Staff Report. g:\park\th\cip\commission action february 2009.doc Chanhassen is a Community for Life - Providing for Today and Planning for Tomorrow CITY OF CHANIlASSEN 7700 Market Boulevard PO Box 147 Chanhassen, MN 55317 Administration Phone: 952.227.1100 Fax: 952,227.1110 Building Inspections Phone: 952,227.1180 Fax: 952.227,1190 Engineering Phone: 952,227.1160 Fax: 952.227.1170 Finance Phone: 952,227,1140 Fax: 952,227.1110 Park & Recreation Phone: 952,227,1120 Fax: 952.227.1110 Recreation Center 2310 Coulter Boulevard Phone: 952.227.1400 Fax: 952,227.1404 Planning & Natural Resources Phone: 952,227,1130 Fax: 952.227.1110 Public Works 1591 Park Road Phone: 952.227.1300 Fax: 952.227.1310 Senior Center Phone: 952.227.1125 Fax: 952,227.1110 Web Site www.ci.chanhassen.mn.us MEMORANDUM TO: Park and Recreation Commission FROM: Todd Hoffman, Park & Recreation Director DATE: February 24, 2009 SUBJ: Modifications to 2009-2013 Park & Trail Acquisition and Development Capital Improvement Program PROPOSED MOTION: "The Park and Recreation Commission recommends the City Council approve modification to the 2009-2013 CIP to eliminate or postpone twelve projects totaling $2,750,000 in order to preserve park dedication funds for improvements and lor land acquisitions that are deemed essential or time sensitive. The city's park dedication fund is currently the primary funding mechanism for park, recreation and trail improvements within the community. Historically, park dedication dollars have been supplemented by capital fund replacement dollars and funds derived from bond sales approved in voter referendums. Park dedication fund receipts have averaged $885,000 per year over the past eight years, or just over $7,000,000 for the same time period. With a tightening of all capital dollar funds at all levels, staff recommends that the commission look to eliminate or postpone planning for capital projects that are not deemed essential and that are not sensitive to the passage of time. For example, the construction of a concession building in an existing park facility would not be considered time sensitive. The park and the opportunity to build a concession building were present ten years ago and will still be present ten years from now. However, acquisition of additional parkland or trail alignments are opportunities that present themselves and, if not acted upon, may be lost. Nineteen park and trail acquisition and development items totaling $3,894,000 will remain after the elimination or postponement of twelve. Chanhassen is a Community for Life. Providing for Today and Planning for Tomorrow Park & Recreation Commission February 24, 2009 Page 2 Items proposed to be eliminated or postponed past 5 years include: Source Project # 2009 2010 2011 2012 2013 Total Park Dedication Fund Tennis Courts PK&T-072 125,000.00 125,000.00 2005 MUSA Park Acquisition & Dev. PK&T-078 400,000.00 400,000.00 Disc Golf Course Contribution PK&T-085 20,000.00 20,000.00 Lake Ann Park Amphitheater & Ball Field Shelter PK&T-086 900,000.00 900,000.00 Lake Ann Park Ball Field Safety Fencing #4, #5, #6 PK&T-087 100,000.00 100,000.00 Bandimere Park Ball Field Safety Netting PK&T-088 40,000.00 40,000.00 Bandimere Community Park Shelter/Restrooms PK&T-092 500,000.00 500,000.00 Skate Park Ramp Replacement PK&T-093 100,000.00 100,000.00 Recreation Center Ball Field Safety Netting PK&T-100 40,000.00 40,000.00 Lyman Blvd. North Park Acquisition PK&T-101 400,000.00 400,000.00 Manchester Park, Phase 1 Development PK&T-I02 250,000.00 250,000.00 Playground Accessibility Improvements PK&T-103 75,000.00 75,000.00 100,000.00 0.00 725,000.00 1,150,000.00 975,000.00 2,950,000.00 Items that would remain in the event the modifications are approved include: Source Project # 2009 2010 2011 2012 2013 Total Capital Replacement Fund Tennis Courts PK&T-072 125,000.00 125,000.00 Recreation Center Fitness Equipment PK&T-079 10,000.00 10,000.00 10,000.00 10,000.00 40,000.00 Recreation Center Picnic Shelter Concrete PK&T-094 24,000.00 24,000.00 City Center Park Electronic Sign PK&T-095 40,000.00 40,000.00 Capital Replacement Fund Total 74,000.00 10,000.00 135,000.00 10,000.00 229,000.00 Park & Recreation Commission February 24, 2009 Page 3 Source Project # 2009 2010 2011 2012 2013 Total Hwy 101 North/Pleasant View Rd Trail Connections PK&T-029 175,000.00 175,000.00 Picnic Tables/Park Benches PK&T-042 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 50,000.00 Trees PK&T-043 10,000.00 10,000.00 10,000.00 10,000.00 10,000.00 50,000.00 Hwy 41 Pedestrian Underpassrrrail Grant Match PK&T-069 125,000.00 125,000.00 Rice Marsh Lake Trail PK&T-074 375,000.00 375,000.00 Liberty at Creekside Trail PK&T-075 275,000.00 275,000.00 The Preserve Trail and Bridge PK&T-076 250,000.00 250,000.00 Lyman Blvd Trail Improvements PK&T-081 700,000.00 700,000.00 Bluff Creek Drive Gap Trail PK&T-083 350,000.00 350,000.00 Pioneer Boulevard Gap Trail PK&T-084 300,000.00 300,000.00 Lake Ann Park Stairway Project PK&T-089 90,000.00 90,000.00 South Lotus Lake Park Playground Refurbishment PK&T-096 35,000.00 35,000.00 Chanhassen High School Athletic Field Contribution PK&T-097 600,000.00 600,000.00 Pedestrian Trail to Arboretum PK&T-098 200,000.00 200,000.00 Chanhassen Native Preserve Trail, Final Phase PK&T-099 90,000.00 90,000.00 Park Dedication Fund Total 1,695,000.00 1,420,000.00 235,000.00 20,000.00 295,000.00 3,665,000.00 Grand Total 1,769,000.00 1,430,000.00 370,000.00 30,000.00 295,000.00 3,894,000.00 Attached is a park dedication fund history with year 2001 to 2008 showing actual numbers and years 2009 to 2013 showing projected numbers. Proposed park dedication revenues have been lowered to $400,000 per year to reflect the current market and the expenses modified to reflect the recommended elimination or postponement of the twelve projects. Based upon these projections, the city will retain a positive cash balance exceeding $1,000,000 for years 2010 through 2013. Through authorization of these modifications, the city will retain the ability to act upon opportunities that it deems in the best interests of the community into the foreseeable future. g:\park\th\commission\proposed modifications to 2009-2013 cip.doc City of Chanhassen Park Dedication Fund History Increase (Decrease) Year End Year Revenues Expenses In Fund Balance Fund Balance 2001 $435,167 $503,661 ($68,494 ) $1,735,991 2002 477,237 1,543,166 (1,065,929) 670,062 2003 1,165,011 1 ,269,639 (104,628) 565,434 2004 616,334 264,194 352,140 917,574 2005 930,450 79,854 850,596 1,768,170 2006 2,286,277 476,006 1,810,271 3,578,441 2007 741,294 731,736 9,558 3,587,999 2008 435,042 593,983 (158,941) 3,429,058 2009 200,000 1,695,000 (1,495,000) 1,934,058 2010 200,000 1,430,000 (1,230,000) 704,058 2011 400,000 235,000 165,000 869,058 2012 400,000 20,000 380,000 1,249,058 2013 400,000 295,000 105,000 1,354,058 Park Dedication Fund History and Predicted Future Performance $500,000 $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 __Revenues __Expenses __ Year End Fund Balance G:\PARK\TH\park dedication history-1 (2).xls