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HomeMy WebLinkAboutItem 03.gCity of Lakeville Parks & Recreation Memorandum To: Mayor and City Council Justin Miller, City Administrator From: John Hennen, Parks & Recreation Director Copy: Jerilyn Erickson, Finance Director Date: March 24, 2016 Subject: Land of Amazement 2.0 Fundraising Update Background At the October 26, 2015 Work Session, Staff proposed a fundraising campaign for Land of Amazement 2.0 that would run through March 31, 2016 at which time staff would update the Mayor and City Council on the fundraising progress. At that meeting, Staff also informed the Mayor and City Council that Staff applied for a grant through GameTime (Playground Manufacturer) for the project. The grant saved the City $36,531 on the total estimated cost of the project. However, as per requirements of the grant, the City had to submit a check in the amount of $220,917.76 no later than November 13, 2015 for the purchase of the main playground structure, which did occur. Staff has contacted potential corporate donors, civic groups, applied for grants, appealed to individuals and families, and has worked with Lakeville Liquors in attempt to reach the fundraising goal of $271,627. The total estimated project cost is $356,627. To date $100,615.83 has been received or verbally committed to the project leaving a remaining balance of $171,011.17 as noted below: Fundraising Goal: $271,627.00 Collected/ Verbal Commitment: $100,615.83 Remaining Balance: $171,011.17 In addition to continuing to seek donations, future fundraising efforts scheduled or being considered include “Taste of Lakeville Wine Preview & Judging Party” to be held in April, Lakeville Liquors and Lakeville Lions “Brew Battle” proposed to be held as part of Pan-O-Prog along with donations that will be accepted in July at the Lakeville Liquor stores. Funding Options Considering we have not reached our fundraising goal at this time, there are a couple number of funding options the Mayor and City Council can consider which are as follows: 1. Continue to fundraise and look for funding sources as we move forward with the construction of the project. 2. Utilize some of the 2015 unencumbered general fund balance for the project. However, the total unencumbered balance for 2015 will not be known until later in April. Preliminary Construction Timeline If the Mayor and City Council direct Staff to continue to move forward on the project, the preliminary construction schedule would be as follows: • Commence the removal of the existing play structure, grading, and site preparation at the end of July/ August; • Installation of concrete border, new access path(s), drainage work and grading in August; • Dig and pour footings and concrete slabs, and install poured in place material; • Playground Volunteer Build - September 16 & 17 • Grand opening in early October Request Staff is requesting direction from the Mayor and City Council regarding moving forward with the construction of Land of Amazement 2.0 project.