Item B - PROS Bond Measure - Laserfiche WebLink

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The staff materials for that work session indicated that a bond measure for a parks and recreation projects would be presented to voters in November 2006. Policy Issues Should the City wait until 2006 to prepare a bond measure, after completion of the Parks, Recreation, and Open Space Comprehensive Plan, or send a Parks, Recreation, and Open Space Bond Measure to the voters in 2004? Council Goal Action Priority This project relates to a number of council goals, including sustainable community development, healthy natural and built environment, accessible and thriving cultural and recreational opportunities, and fair, stable and adequate financial resources. Financial and/or Resource Considerations A PROS Bond would provide funding for development or acquisition of new assets and renovation of existing infrastructure. However, these new assets would likely increase maintenance and operation needs. Current and potential future gaps in maintenance and operation funding need to be addressed, and are a subject of future work products with the PROS Comprehensive Plan. Additionally, any new bond would have an impact on the City's debt capacity. If the council decides to proceed with consideration of a 2004 bond, staff will work to develop several funding options. Other Background Information The PROS Comprehensive Plan process has included extensive public outreach and involvement over the last 18 months. Staff, consultants, and members of the Mayor's PROS Committee have synthesized this information into common trends and issues. Completed Comprehensive Plan work products, including the newly drafted Parks and Open Space Analysis Report, are available on the City's Parks and Open Space website. Timing On July 14, the council will discuss the possibility of placing a bond measure on the November ballot for parks, recreation and open spaces. Continued discussion of a November ballot measure will occur on July 21. If a financing plan is adopted that requires a bond measure, the council will need to take final action on a resolution by August 9, 2004, to place a measure on the November 2004 ballot. The council agenda includes a meeting on July 26 for this purpose. OPTIONS The council has the option to support the completion of the Parks, Recreation, and Open Space Comprehensive Plan and preparation of a prioritized list of funding needs for 2006; or, to direct the City Manager to prepare a list of possible items for a Parks, Recreation, and Open Space General Obligation Bond to be presented to the voters in 2004. STAFF RECOMMENDATION Staff recommends the completion of the Parks, Recreation, and Open Space Comprehensive Plan and preparation of a prioritized list of funding needs for 2006. L:\CMO\2004 Council Agendas\M040714\S040714B.doc