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January 11, 2023 Meeting Minutes Continued -
<br />Board Updates
<br />City Sendces Facility (25%)
<br />McCaslinNUashington Underpass (50%)
<br />Trail Improvements
<br />Annual Tree Planting Program
<br />Trail Flood Damage Repair
<br />Trails Reconstruction Projects - Flood
<br />Lastoka Properly Conservation
<br />Open Space Zoning
<br />US36 Underpass at Davidson Mesa
<br />Wayfinding & Signs
<br />Davidson Highline Lateral Ditch
<br />New Equipment - Truck
<br />Machinery & Equipment
<br />Hecla Lake Reservoir Improvements
<br />Irrigation Controller Replacement
<br />Boundary Treatments
<br />Open Space Management Plan Updates
<br />Trail Counters
<br />Park Signs
<br />Renovation of Demonstration Garden
<br />Prescribed Bums
<br />Parking Lot Improvements
<br />Demonstration Gardens
<br />New Trail from Tennis Center
<br />Total Open Space & Parks Fund
<br />City of Louisville
<br />Five -Year Capital Improvement Program
<br />For the Years 2015 Through 2019
<br />Open Space & Parks Fund
<br />1,337,500 1,337,500
<br />432,630
<br />432,630
<br />27,500
<br />27,500
<br />7,500
<br />7,500
<br />9,950
<br />9,950
<br />600,000
<br />462,880
<br />19,500
<br />19,500
<br />162,500
<br />162,500
<br />-
<br />32,340
<br />72,000
<br />72,000
<br />120,000
<br />120,000
<br />34,490
<br />34,490
<br />1,612,500 (2015 Cost = $6,450,000, Less Grant = $1,000,000) 1,612,500
<br />(Removed $35,000 in 2015 and $55,000 in 2016)
<br />- 55,000 55,000 55,000 165,000
<br />15,000 15,000 15,000 15,000 15,000 75,000
<br />7,000
<br />162,500
<br />25,000
<br />125,000
<br />20,000
<br />15,000
<br />Gloved Fonnaid One Year)
<br />4,091,570 4,107,790
<br />5,000 10,500 22,500
<br />14,000 14,000 28,000
<br />- - - 162,500
<br />15,000 15,000 15,000 70,000
<br />75,000
<br />75,000
<br />75,000
<br />75,000
<br />425,000
<br />-
<br />-
<br />-
<br />-
<br />20,000
<br />50,000
<br />50,000
<br />50,000
<br />50,000
<br />215,000
<br />15,000
<br />13,000
<br />26,000
<br />6,000
<br />60,000
<br />40,000
<br />-
<br />-
<br />-
<br />40,000
<br />15,000
<br />-
<br />-
<br />-
<br />15,000
<br />15,000
<br />15,000
<br />15,000
<br />15,000
<br />60,000
<br />34,200
<br />-
<br />-
<br />-
<br />34,200
<br />7,000
<br />8,000
<br />8,000
<br />23,000
<br />-
<br />17,500
<br />-
<br />17,500
<br />(1Vbved Beyond
<br />Five Years
<br />Annual tax revenue to the Open Space and Parks Fund is about $1.6 million, not
<br />including transfers from the General Fund or other sources. However, annual
<br />operations and maintenance costs for all of the City's Open Space and Parks
<br />related activities (excluding land acquisition and capital outlay) is just over $2.0
<br />million annually. Consequently, it is necessary to either transfer funds from the
<br />General Fund to the Open Space and Parks Fund to cover these expenses and
<br />to maintain or increase Open Space and Parks Fund reserves, or it is necessary
<br />to reduce expenditures.
<br />Draft Policy on Open Space and Parks Fund Expenditures and Reserve
<br />To ensure there are sufficient funds to acquire Candidate Open Space properties when
<br />they become available, and to ensure there is sufficient funding to appropriately
<br />maintain the Open Space and Parks properties the City already owns, staff
<br />recommends Council adopt a fiscal policy concerning Open Space and Parks Fund
<br />(OSPF) expenditure priorities, the target reserve to maintain in the OSPF, and the
<br />actions to take in the event City purchase of a Candidate Open Space property would
<br />cause the reserve balance to be lower than the target reserve. For discussion purposes,
<br />which staff recommends take place first with the Open Space Advisory Board and then
<br />with the City Council Finance Committee, before final consideration by the City Council,
<br />staff suggests the following draft policy:
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