2021.06.01 WS Minutes - Laserfiche WebLink

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15 year life expectancy. Terri Heaton explained interest rates were very low at this time, noting 20 year bonds were at 1.6% at this time. She reported a lot of cities were taking advantage of this low interest rate to complete projects. She stated she was uncertain when these rates would begin to increase but anticipated rates would increase in the next two or three years. She commented further on how an increase in interest rates would impact an $8 million or $10 million bond issuance. She noted if the useful life is less than 20 years, the average life could not exceed the useful life of the asset and the majority of the bond would have to be paid off in 10 to 12 years. Councilmember Dunsworth questioned if a dog park was added to Creek View would the park have adequate parking and would this lead to additional costs. She asked if the pickleball courts would create a need for additional staff to reserve the space. She inquired if the hidden costs for the park improvements have been considered by staff. Fink stated having just gone through the Eagle's Nest improvement project, the proposed park improvements differed because they were not staffed amenities. She projected park popularity would increase initially and would then level off over time. She stated parking needs were being considered for each park, including the dog park. Councilmember Dunsworth recommended that unintended consequences be considered when looking at costs. Fink stated the neighborhood centers that have the most use was at Freedom and Hansen Parks. She explained this was what led staff to propose larger neighborhood centers which would assist in hosting programs and generating revenue during the summer months. Councilmember Dunsworth asked what size grant the City applied for for Hansen East. Fink stated if the City receives this grant, it would be for$250,000. Councilmember Axberg requested further information regarding the use of internal funding and why this was on the "con" side for bonding. Massopust explained internal funding was used for multiple purposes and if a large portion of internal funding was committed to parks, the City would not have these dollars available for other projects. Councilmember Axberg questioned if there was some level of internal funding the City likes to keep available. Massopust explained the City has to abide by its fund balance policy. Councilmember Abdulle commented this was a once in a lifetime investment in the community. He understood this was a lot of money, but he believed this was a timely and beneficial investment. He believed that many of the parks were coming to the end of their useful life and now was the time to consider improvements. He appreciated the fact that five or six parks would be enhanced in the next two years through the proposed plan. He stated the one thing he was not seeing within the Parks Comprehensive Plan was more attention paid to the environmental footprint for the decisions the Council was making. He believed it would be great to find ways to encourage residents to walk to parks versus drive. Fink thanked Councilmember Abdulle for his comments. She discussed how adding a parking lot at Totem Pole Park would assist in supporting the new amenities proposed for the park. She reported staff was working to consolidate the parking at Hansen Park and Sunnyside Park. Further discussion ensued regarding on street and off street parking around the City's parks. Mayor Niedfeldt-Thomas requested further information from staff on the prioritization of the park projects. Fink stated if the Council were to bond for $10 million this would include Hansen West with one of the larger neighborhood centers, along with replacing the picnic shelters at Sunnyside and Totem parks. She reported the consultant recommended completing full parks when possible so the impact is understood and enjoyed by residents. She explained the parks proposed for projects had the most need and were rated the lowest in the park assessments. She indicated the four existing neighborhood centers were installed at the same time and all four centers were in need of replacement.