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2 <br />The Board discussed the proposed policy and guidelines on February 3'd, February 16th and <br />on March 4th. At the March 4th meeting, the board voted to approve the draft as revised and <br />to include "alternate section 2", which would provide the opportunity for facilities to be <br />constructed through matching grants to public entities. <br />Based on this feedback, staff has prepared final revisions to the policy and incorporated <br />them into the attached document. <br />FINANCIAL IMPACT: This policy and guidelines would govern the types of expenditures <br />made from the Soccer Superfund, at the Board's discretion. There is no provision that <br />requires funds to be appropriated, as such decisions would be up to the legislative decision- <br />making of the Board, <br />The Soccer Superfund had $500,000 appropriated in FY 2002-03. According to the 2002 <br />Bond and Alternative Financing Timetable, $600,000 was to be appropriated in the current <br />FY 2003-04 fiscal year, with a like amount in FY 2004-05. The proposed FY 2005-06 <br />allotment is $300,000. <br />RECOMMENDATION(S): The Manager recommends that the Board adopt the attached <br />Soccer Superfund Policy and Guidelines.