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. Through Measure X the community approved the Bernal Property Specific Plan with <br /> a 85.5% yes vote indicating a strong interest in completing planned improvements <br /> for the property. <br /> . Restricting the use of the In-lieu Park Dedication Fees to the Oak Woodland area at <br /> this time minimizes any conflict with the usage of the Public Facilities Fee which is <br /> focused on developing City facilities. The Oak Woodland area is planned for open <br /> space with trails and a minimal amount of park furniture such as benches and <br /> signage. <br /> • A significant portion of the of the In-Lieu Park Dedication Fee revenue that <br /> comprises the existing reserve were received from developments that will benefit <br /> from the Oak Woodland Area open space. <br /> . It is appropriate to make improvements to the Oak Woodland as part of Bernal <br /> Phase II to address water drainage and other matters. <br /> • There are no immediate City immediate parkland acquisition projects that are <br /> dependent on the existing fund balance but there is existing parkland, such as the <br /> Staples Ranch Community Park, that is in need of funding to construct <br /> improvements. <br /> • There is an existing funding gap to complete the Bernal Park Phase II (Currently the <br /> Bernal Property Improvement Reserve, Phase II Reserve balance is $4.3 million. <br /> Based on the above, staff has prepared the attached resolution approving the one-time <br /> transfer which will be reflected as part of the City's Mid-Year Financial report. Staff does <br /> not have a specific timeline for completing its review of longer term uses of the In-Lieu <br /> Park Dedication Fee but anticipates its completion within six months. The study will <br /> explore the long term impact of permanently amending the current practice of using In- <br /> Lieu Park Dedication Fees for only parkland acquisition and review the assumptions <br /> made as part of the Public Facilities Fee. <br /> Submitted by: Fiscal Review: Approved by: <br /> Steven Bocian Emily W finer &V Nelson Fialho <br /> Assistant City Manager Director of Finance City Manager <br /> Attachments: <br /> 1. CIP Approving Resolution <br /> 2. CIP Introduction and Financial Summary Tables <br /> 3. Current design of Phase II Bernal Park and the Bernal Oak Woodland Area <br /> Page 5 of 5 <br />