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Plaza and theatre repairs, reserve fund and rising CAM fees flagged by Parks & Recreation
Summary
Parks and Recreation staff reported the Plaza’s new door installation will cost about $17,000 for the theatre portion, the creation of a taxable reserve fund for the mixed-use building, upcoming ERV work, and that CAM-related investments have grown from about $20,000 to roughly $100,000.
Sherri Proud, representing Parks and Recreation, summarized facility and operational developments for the Plaza and theatre spaces.
Proud said the theatre’s portion of a new door system is approximately $17,000 and that the department has started a reserve fund for the building; the commission learned the reserve will be taxable even though the department previously believed reserves were not permitted for mixed-use spaces. She also identified upcoming capital needs, including updates to ERV lines, and said the building’s camera system has helped reduce vandalism.
Proud highlighted a rise in CAM-related investments: the commission initially started at about a $20,000 investment in CAM fees and is now approaching $100,000 across lobby and second-floor space. Commissioners discussed recruitment timing for a 20-hour CCPA development position (applicants sought beginning July 1) and noted the implications of the reserve fund’s tax treatment for future budgeting.
