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2 <br />Cardio equipment: Technological advances during the three year lease period could <br />render this equipment obsolete by the expiration of the lease. In that instance, it is <br />prudent to preserve the option to trade out the equipment to that which would best <br />serve the membership at that time. For that reason, a lease is proposed for this <br />acquisition. The cost of the lease is approximately $2,170 per month fora 36 month <br />period, the funding for which is also included in the FY 2008-2008 SportsPlex budget. <br />FINANCIAL IMPACT: Funding for the $61,244 acquisition cost of the strength equipment and <br />$2,170 per month lease cost for the cardio equipment are included in the FY 2008-2009 <br />SportsPlex budget. <br />RECOMMENDATION(S): The Manager recommends that the Board ratify the actions taken <br />during the Board's summer break by staff and the Manager to acquire fitness equipment for the <br />SportsPlex. <br />