HomeMy WebLinkAboutParks Department Fields District Park Property 3/26/2025 9:06AM City of Meridian FY2025 Budget Amendment Form
Personnel Costs Full Time Equivalent(FTE):
Fund# Dept.# G/L# Proj.# G/L#Description Total W IDIAN%-'
07 5290 41200 1 0 Wages C>
07 5290 41206 0 PT/Seasonal Wages
07 5290 41210 0 Overtime Please only complete the fields
07 5290 41304 0 Uniform Allowance highlighted in Orange.
07 5290 42021 0 FICA $ Amendment Details
07 5290 42022 0 1 PERSI I $ Title: Fields District Park Property
07 5290 1 42023 1 0 1 Worker's Comp $ Department Name: Parks and Recreation
07 5290 42025 1 0 1 Employee Insurance $ Presenting Department Name: Parks and Recreation
Total Personnel Costs $ Department#: 5290
Operating Expenditures Primary Funding Source: 7
Fund# Dept.# G/L# Proj.# G/L#Description One-Time On-Going Total CIP#:
07 5290 1 0 $ Project#:
07 5290 0 $
07 5290 0 $ Is this for an Emergency? ❑ Yes 0 No
07 5290 0 $ New Level of Service? ❑ Yes No
07 5290 0 $
07 5290 0 $ Clerks Office Stamp
07 5290 0 $
07 5290 1 0 $
07 5290 0 $
07 5290 0 $
07 5290 0 $
07 5290 0 $ 4-15-2025
07 1 5290 0 $ Date of Council Approval
Total Operating Expenditures $ $ $
Capital Outlay
Fund# Dept.# G/L# Proj.# G/L#Description Total Acknowledgement Date
07 5290 91000 1 0 Land Acquisition $ 4,250,000 3/26/2025
07 5290 0
07 5290 0 Department Director
07 5290 0 REVIEWED
07 5290 0 By Todd Lavoie at10:49 am,Mar 26,202s jflelds 3.26.25
07 5290 0 1 i i �Firaancjal Office
Total Capital Outlay $ 4,250,000
3 Revenue/Donations a4
Fund# Dept.# G/L# Proj.# G/L#Description Total n it Liaison
07 0
07 0 3-27-25
07 0 Mayor
Total Revenue/Donations $
Total Amendment Request $ 4,250,000
City of Meridian FY2025 Budget Amendment Form H:\Budget Amendment-Fields District Park Property
3/26/2025 9:06AM City of Meridian FY2025 Budget Amendment Form
Total Amendment Cost- Lifetime
Prior Year(s) Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Department Name: Parks and Recreation
Funding 2025 2026 2027 2028 2029 Title: Fields District Park Property
Personnel $ $ $ - $ - $ Instructions for Submitting Budget Amendments:
Operating $ $ $ $ $ >Department will send Amendment with Directors signature to Finance(Budget Manager)for review
Capital $ 4,250, 00 >Finance will send Amendment to Council Liaison for signature
Total $ - $ 4,250,000 $ - $ $ $
>Council Liaison will send signed Amendment to Mayor
Total Estimated Project Cost: $ 4,250,000 >Mayor will send signed Amendment to Finance(BudgetManager)
Evaluation Questions >Finance(Budget Manager)will send approved copy of Amendment to Department
Please answer all Evaluation Questions using the financial data referenced above. >Departmentwill add copy of Amendment to Council Agenda using MunicodeAgenda Manager
1. Describe what is being requested?
We have been working with the Mark Bottles team to acquire future park land in northwest Meridian,in the area also known as the Fields District. The land is comprised of approximately 40.8
acres from Owyhee Holdings and approximately 0.9 acres from Intermountain Gas. The total acreage will be approximately41.7 acres. The purchase price of the Owyhee Holdings land is
$4,014,995,which is approximately$3,100,000less than fair market value. The difference between the acquisition price and the fair marketvaluewill be treated as a donation. The purchase B
price of the Intermountain Gas property is$168,684 which reflects fair market value. The balance of the funds will be used for closing costs.
2. Why was this budget request not submitted during the current fiscal year budget cycle?
The partnership evolved afterthe budget process.
3. What is the explanation for not submitting this budget request during the next fiscal year budget cycle?
We would like to take advantage of this opportunity purchase for future park property. City Council approved the Letter of Intent in January 2025.
4.Describe the proposed method of funding? If funding is split between Funds(i.e. General,Enterprise,Grant),please include the percentage split. List the amounts and j
sources of anticipated additional revenue that will result from approval of this request.
The$4,250,000 is being requested from park impact fees.Park impact fees are being collected for this purpose.
5.Does this request align with the Department/City's strategic plan? If not,please explain how this request was not included in the Department/City strategic plan?
Yes
6. Does this request require resources to be provided by other departments? If yes, please describe the necessary resources to be provided by other departments.
No
7.Does this Amendment include any needed Equipment or Software that will utilize the Cit 's network? Yes or No o
777
8.Is the amendment going to result in the disposal of an asset?(Yes or No) �, No
(�9.Any additional comments?
lv/A
Total Amendment Request $ 4,250,000
Every effort should be made to avoid reopening the budget for an amendment. Departments will need to provide backup and appear before the City Council to justify budget amendments.
Budget amendments are intended for emergency or mandatory changes to the original balanced budget. Changes to the original balanced budget may cause a funding shortfall.
City of Meridian FY2025 Budget Amendment Form H:\Budget Amendment-Fields District Park Property