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HomeMy WebLinkAbout06/19/2003 CDC MINUTES THE COLONY COMMUNITY DEVELOPMENT CORPORATION REGULAR SESSION JUNE 19TM 2003 PRESENT: Vicki Briggs President Staff: Pam Nelson Richard Boyer Vice President Sam Fitzgerald Sue Walden - Treasurer Kathy Neal Don Beckel - Secretary John Sanders - Member Susan King - Member Bunker Hill - Member 1. CITIZEN'S INPUT - None. 2. APPROVAL OF MINUTES OF THE REGULAR SESSION HELD MAY 22r~D 2003 AND THE SPECIAL SESSION H ELD ON MAY 29TM 2003 - Motion to approve - King; Second - Beckel; motion carried. 3. REVIEW AND CONSIDERATION OF PRELIMINARY 03-04 BUDGET - Motion to table - Walden: Second - King; motion carried. 4. REVIEW AND CONSIDERATION OF FUND BALANCE PERCENTAGE ALLOCATIONS - All of the $200,000 allocated for existingpark improvements in 02-03 has not been spent. If no more money is spent out of this budget year, the board can decide to add the remaining balance onto next year's budget or authorize staff to transfer the full or partial amount into a specific project or, you can roll it into the fund balance and reallocate it for next year. The board wants to add a New Parks -Trail line. We would have to set up another fund for Trails and give it a separate number; it would become a separate financial accounting. It was also suggested that a five-year plan for the arts and the trail plan be developed, especially for the arts. If we allocate funds on a yearly basis to these, we should also have a plan of expenditures, and it should be done within the next fiscal year. We also need to find out what the City is going to contribute to the arts; this will make it easier to set up our allocations. The money allocated for the arts does not have to go to the arts board, it could go toward beautification. The fund balance we are projected to carry into next year may be higher because we're ahead on our revenue projections, we always come in under budget on our operational budget and we may not spend $33,000 on the bridge. Motion to change the percentages distribution of fun& to 17% to new parks and the reduction of 5% to other projects and at the end of this fiscal year transfer any remaining funds in new parks into the trail fund Sanders; Second- Beckel Motion to amend the original motion to include the transfer of Five Star funds - Sanders; Second- Beckel; motion carried 5. UPDATE FROM DIRECTOR / ASST. DIRECTOR - Financial Statements - The amount of sales tax revenue collected this quarter is better than we anticipated. Five Star - All the shade structures are up. There are 3fields and some common areas that still need to be hydro mulched. There is a drainage problem between the football and soccer fields. The veteran's will install the bricks at the memorial. They have sold over 300 bricks. They will be present for the grand opening event. They have expanded the sale of the bricks to surrounding communities. Skatepark - We have recommended Ozone to City Council. Pam and Sam visited a stakepark in Las Vegas that use their products, and thought the equipment was top quality. We now have to decide on the colors, and when that is complete, it should take 3 5 weeks for the equipment to arrive and they will install it. We have not determined a grand opening date. Trail Master Plan - Para and Sam went to look at a trail surface made from crushed limestone that was mixed with concrete. Runners liked it a lot and bikers were fine with it, but there was some loose rock in some places. We can't do a hard surface trail on the shoreline but we could on the greenbelts. a~, Recordin~ Secretary '~' ~ Ka ~~' Vi~k/-Brigg~s, Pres~ ~nt