Council tables parks/riverfront capital fund and related budget measures to a later reading

Council on June 2 reviewed an ordinance to create a dedicated parks and riverfront capital improvement fund (Fund 407) and related appropriation and transfer ordinances, then moved to carry the measures to subsequent readings rather than adopting them immediately.

"The purpose of this fund is for capital improvements... it will allow the city to sustain ongoing capital investments to the parks and riverfront," Councilmember Sprag said, describing the fund as a way to allocate grant receipts and other special revenue outside the general fund and to improve transparency for taxpayers and auditors.

Finance staff provided a five-year projection showing when debt payments would decline and how transfers into the new fund could free up 403 capital funds for street resurfacing and other projects. "Once those [bonds] are taken care of, that frees up quite a bit of revenue," a staff explanation said.

Councilmembers noted the high cost of playground equipment and paving and discussed a target of increasing annual street resurfacing from historical levels toward $750,000–$1 million in years when revenues permit. After discussion the council made a motion to "let lie" (table) the parks fund ordinance and the related appropriation and monthly transfer ordinances so they can return for a third reading and final vote at the next meeting.

Motion to table the parks fund ordinance was moved by Mr. Corbin and seconded by Mr. Hancock; voice votes were recorded as "I." No final appropriations or transfers were approved at the meeting.

The measures will return to council for final consideration at the next scheduled meeting.