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Funding for Acquisition <br /> <br />Thc Capital Improvement Program includes $1,490,990 to acquire an unidentified site in South <br />Pleasanton for a neighborhood park. This project was placed in thc CIP in 2000. For a number <br />of years staff attempted to identify a suitable site but one has not yet been identified. Further, <br />with the development of the Callippc Preserve Golf Course and Open Space project and the <br />proposed development of the Bernal Property including the Phase I of the Bernal Community <br />Park, this area of the City will have significant recreational amenities not anticipated when this <br />project was first included in the CIP. Approximately $1,040,990 of thc money in this project <br />reserve is derived from In Lieu Park Dedication fees which can bc used for acquiring parkland. <br />Of this amount, $253,605 is derived from pre-1998 In Lieu Park Dedication fees that can bc <br />used to either acquire or improve parkland. Considering thc recreational amenities planned for <br />South Pleasanton, the unlikelihood of identifying a suitable site for a neighborhood park in thc <br />area, and the expectation that 4254 Vervais will ultimately be used to carry-out the park <br />concepts included in thc Downtown Parks and Trails Master Plan, staff recommends using this <br />revenue to acquire and ultimately improve thc site. Thc current South Pleasanton Park project <br />reserve will remain in the CIP pending further decisions regarding thc use of 4254 Vervais. <br /> <br />Site Usage <br /> <br />As indicated, staff anticipates that this site will be used consistent with the plans included in thc <br />Downtown Parks and Trails Master Plan. However, staff needs to further study options for <br />short-term use and identify options for phasing and funding the park improvements. Staff <br />anticipates a report to thc Council by August 31 on this matter. <br /> <br />FISCAL IMPACT <br /> <br />The purchase price is $750,000 and staff estimates approximately $10,000 for site inspections <br />and closing costs. As indicated previously, funding for this project will come from transferring In <br />Lieu Park Dedication Fees from the South Pleasanton Park Site Acquisition Reserve (017042). <br /> <br />Rest, <br />Nelson Fialho <br />City Manager <br /> <br />SR 05:133 <br />Page 3 <br /> <br /> <br />