CITY COMMISSION AGENDA ITEM

Department:	Parks and Recreation		Commission Meeting Date:  March 6, 2018
Staff Contact:	Derek Rogers, Director Mark Hecker, Assistant Director
Recommendations/Options/Action Requested:
Adopt Resolution No. 7241, declaring the City’s intent to issue general obligation bonds in the amount $600,000.00 for the design, construction, reconstruction, repair, replacement and/or the equipping of certain City of Lawrence, Kansas., public buildings and facilities.
Executive Summary:		The 2018-2022 Capital Improvement Plan adopted by the City Commission includes the following Parks and Recreation facility renovation projects in 2018 and early-2019: Lawrence Indoor Aquatics Center renovations - estimated cost $100,000 Community Building renovations – estimated cost $100,000 South Park Playground renovations – estimated cost $100,000 East Lawrence Center renovations – estimated cost $50,000 Holcom Park Center renovations – estimated cost $125,000 Union Pacific Depot renovations – estimated cost $125,000 Funding for these projects was originally planned in the General Fund, not the Bond & Interest Fund. Adoption of the resolution will allow for the future issuance of general obligation bonds to pay for these improvements, if the Commission desires. This alternative is presented following recent Commission discussion of its desire to fund affordable housing projects that do not meet the economic development requirements for debt funding. Should the Commission determine to issue debt for these Parks & Recreation projects, $600,000 would be available in the General Fund for affordable housing funding requests.
Strategic Plan Critical Success Factor		Innovative Infrastructure and Asset Management Sound Fiscal Stewardship
Fiscal Impact (Amount/Source):		Adoption of Resolution No. 7241 will enable the City Commission to issue general obligation notes in the future for the named projects. This action has no immediate financial impact on the City. These projects are included the City’s approved Capital Improvement Plan.
Attachments:		Resolution No. 7241

Reviewed By: (for CMO use only)

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