HomeMy WebLinkAboutItem No.SA6CITY OF LAKE ELSINORE
REPORT TO THE CITY COUNCIL AND REDEVELOPMENT AGENCY
TO: MAYOR AND CITY COUNCIL AND
REDEVELOPMENT AGENCY CHAIR AND BOARD
FROM: RON MOLENDYK, CITY MANAGER AND EXECUTIVE DIRECTOR /RDA
DATE: APRIL 27, 1993
SUBJECT: LAKE PARK AND RECREATION ENTERPRISE FUND
BACKGROUND
The City of Lake Elsinore is currently finalizing plans to accept
the Lake Elsinore State Recreation area, the lake, campground and
day use areas, from the State of California Department of Parks and
Recreation.
DISCUSSION
The City has been actively working with the State Parks staff to
develop a public launch facility in an effort to provide a means
for boaters to regain access to the lake.
The boat launch facility, along with a number of other issues;
insurance, promotion, lake edge clean up and public parking and
access have created the need to establish a fund that these
expenses may be drawn against.
Staff is recommending the Redevelopment Agency loan the -City
$175,000 to establish this fund and the City will return the loan
to the Redevelopment Agency from the $1.5 Million the City is
receiving from the State with the transfer of the lake.
FISCAL IMPACT
The impact to the City's General Fund will be the cost to develop
the launch, purchase insurance and resolve the other issues that
will arise before the 1993 -94 Fiscal Budget is adopted.
On or before July 1, 1993, the loan will be repaid to the
Redevelopment Agency from the proceeds of the lake transfer.
RECOMMENDATION
It is recommended that the Mayor and City Council authorize the
establishment of the Lake Park and Recreation Enterprise Fund and
the Redevelopment Agency Chairman and Boardmembers authorize the
loan of $175,000 to the City to establish the fund, conditioned on
the repayment of the loan upon the transfer of the lake and the
$1.5 Million from the State to the City.
Prepared by:
Approved for
Agenda Listing
AGENDA ITEM NO.
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