Agenda - 05-17-2005-5p - Laserfiche WebLink

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3 Soccer Superfund. $375,000 of that amount, for construction of two fields, will be added to $975,000 in Soccer Superfund money already approved for the West Ten Soccer Park, bringing the total of that capital project ordinance appropriation to $1,350,000. The BOGG also decided to allocate $6,50,000 towards the development of soccer fields at Twin Creeks Park, The accompanying capital project ordinances will appropriate these new funds to the two respective soccer field projects, The existing Soccer Superfund Capital Project Ordinance will be closed out as of June 30, 2005. (See Attachment #3, Soccer Superfund Capital Project Ordinance, Attachment #4, West Ten Soccer Complex Capital Project Ordinance, and Attachment #5, Twin Creeks Park Capital Project Ordinance) Triangle SportsPlex 6. This past winter, the Board authorized the Manager and staff to expend up to $40,000 in funds appropriated for the County's facilities/services agreement with Eaton Vance to conduct due diligence assessments of the financial and physical condition of the SportsPlex operation and facilities. These assessments were considered by the BOGC in their decision to enter negotiations with Eaton Vance regarding the County s proposed purchase of the SportsPlex property, The County's contractual obligation with Eaton Vance ended on March 31, 2005, and therefore, there were sufficient funds remaining in the 2004-05 budget for the professional services associated with the due diligence assessments, One outcome of the BOCC's decision to try to reach agreement on the acquisition of the SportsPlex was an interim agreement between the County and Eaton Vance to generally continue the existing agreement through the end of June 2005, at the same monthly rate of $33,333,33, while bath parties are pursuing good faith negotiations on the sale of the property, The accompanying budget amendment would restore the $40,000 previously designated for due diligence assessments to enable the County to meet its contractual arrangements through the end of FY 2004-05. Funding for this $40,000 transfer would come from savings on lower than expected debt service payments already appropriated in the original FY 2004-05 budget, (See Aftarhment 6, Triangle SportsPlex Capifal Project Ordinance) FINANCIAL IMPACT: Financial impacts are included in the background information above. RECOMMENDATION(S): The Manager recommends that the Board of County Commissioners approve the attached budget ordinance and capital project ordinance amendments,