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Recreation Advisory Board <br />Minutes <br />January 27, 2025 <br />Page 2 of 5 <br />Introduction of Board Members — we welcomed to new members: Everett and <br />Dan <br />Approval of Posting Locations for Agendas <br />• City Hall <br />• Library <br />• PD/Court <br />• Recreation and Senior Center <br />• Website www.louisvilleCO.gov <br />Motion: Dick <br />Second: Angie <br />Election of Officers <br />• Chair: Lisa Motion: Angie Second: Dick <br />• Vice Chair: Michele Motion: Lisa Second: Dick <br />• Secretary: Douglas Motion: Michele Second: Lisa <br />Staff Updates <br />• Finance Presentation — Ryder Bailey and Mahyar Mansurabadi <br />Slide Presentation (included in RAB packet): City has 21 funds including Golf <br />Course fund as an enterprising fund supported by user fees. Recreation fund <br />is a special revenue fund supported primarily by user fees, dedicated sales <br />and use tax, and general and capital fund transfers. Fundraising for the golf <br />course could be done through establishing a charitable organization like the <br />library foundation. Golf course and recreation fund forecasts were presented <br />but do not reflect capital improvement projects. <br />Dick handed out a one -page spreadsheet (to be included with these minutes) <br />showing proposed golf course improvements (e.g., new clubhouse), annual <br />revenue, annual operating expenses, and financing through loan/bonds. He <br />worked with David Baril and Michele Van Pelt to develop these figures <br />projecting 2027/28 costs and revenue based on a consultant's feasibility <br />report. He requested feedback from Mahyar and Ryder who agreed to review <br />and respond to his proposal. To issue a debt with voter approval as an <br />enterprise fund would be subject to Tabor provisions and would not receive <br />city funds. Michele stated that the challenge is getting voters to approve this <br />funding. David B asked if this could be bundled with other projects that have <br />wider appeal? How about a special tax use district? This would still require <br />approval from voters within the proposed district. Lisa asked if Mahyar and <br />Ryder could provide the RAB with recommendations on the best approach, <br />