ADOPTED BUDGET RESOURCE ALLOCATION PLAN - City of ...

Project: 821001 City Owned Properties - Adjacent to Parks
Origination Year: 2006-07
Planned Completion Year: Ongoing
Department: Public Works
Project Description / Scope / Purpose
Project Information Sheet
Type: Administrative Facilities
Category: Special
Project Manager: Michael Chan
Fund: 141 Park Dedication
Sub-Fund: 100 Subdivisions
Project Coordinator: David Lewis
The City owns six single family residences. Three of the houses are adjacent to Murphy Park and the other three are adjacent to Orchard Gardens Park. These properties were acquired to facilitate
future park expansion, and the houses need to be maintained until a decision is made as to whether or not to expand these parks. In the interim, the City will receive rental revenue from these
properties.
Project Evaluation and Analysis
The houses are currently projected to be maintained through FY 2010/2011 and sold the following fiscal year. During FY 2008/2009, a strategic plan will be prepared for all City park facilities that
will determine whether these two neighborhood parks will be expanded or the resources will be used for other park facilities.
Fiscal Impact
This Project is funded by rental revenue, which provides a net income to the Park Dedication Fund of approximately $90,000 annually.
Project Financial Summary
Financial Data Prior
Actual
Project Costs
Revenues
Total
Transfers-In
Total
Operating Costs
Current 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Y11-Y20
2009-10
Total
Project
Life Total
50,003 13,679 15,000 15,300 15,606 15,918 16,236 16,561 16,892 17,230 17,575 17,926 211,672 439,598
Long Term Rent City Owned Houses 101,118 104,152 107,276 110,494 113,809 117,224 120,741 124,363 128,094 131,937 1,647,407
301,934 104,595 101,118 104,152 107,276 110,494 113,809 117,224 120,741 124,363 128,094 131,937 1,647,407 3,213,144
0 0 0 0 0 0 0 0 0 0 0 0
0 0
0 0 0 0 0 0 0 0 0 0 0 0
0 0
City Owned Properties - Adjacent to Parks 821001