M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals, Town Manager
Date: January 15, 2014
Re: Authorize General Fund reimbursement from Park Impact Fees
REQUESTTitle
A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, PROVIDING FOR THE REIMBURSEMENT OF THE GENERAL FUND FROM PARK IMPACT FEES FOR EXPENDITURES MADE FROM THE GENERAL FUND FOR PARK LAND ACQUISITIONS; AUTHORIZING THE TOWN MANAGER TO DO ALL THINGS NECESSARY TO CARRY OUT THE PROVISIONS OF THIS RESOLUTION; AND PROVIDING FOR AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
The Town recently acquired additional park open space via the acquisitions of Lakes by the Bay Park and Lakes by the Bay Linear Park. Certain expenditures were made related to these acquisitions, such as for legal fees, surveying and testing, which were paid for from General Fund monies, but which qualify to be paid with Park Impact Fees.
Staff recommends that the General Fund be reimbursed for the expenditures it made related to the park land acquisitions. The total reimbursement requested is $79,805.76, and is detailed in Exhibit "A". It is recommended that the reimbursement to the General Fund from Park Impact Fees be made using $58,125.57 of park impact fees specifically designated for "open space" and the balance of $21,680.19 from other non-open space designated Park Impact Fees that may be used for any eligible park purpose.
RECOMMENDATION
Staff recommends Council adopt the attached resolution authorizing the reimbursement of the General Fund from Park Impact Fees for eligible park acquisition costs previously paid from the General Fund and that such funds be transferred from the Town's Park Impact Fee account at Sunstate Bank to the Town's Main Operating account at Sunstate Bank.