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COUNCIL MEETING <br />MAR 8 1999 <br />CITY OF OHONO <br />REQUEST FOR COUNCIL ACTION <br />DATE: March 3,1999 <br />ITEM NO: / 3^ <br />Department Approval: <br />Name RonMoorse <br />Titk City Administrator <br />Administrator Reviewed:Agenda Section: <br />City Administrator's <br />Report <br />Item Description: Authorization to ^pend Funds for the Purchase of Saga Hill Open Space <br />Property <br />The City Council at its February 22,1999 meeting authorized a contribution of up to $48,300 toward <br />the total cost of $150,000 for the purchase of the additional open space property in the Saga Hill <br />area. Because the City will not receive the $75,000 grant amount for this property until after the <br />purchase is complete, the City needs to fund this $75,000 on an interim basis, in addition to the <br />City's contribution of $48,300. The City will be reimbursed for the $75,000 amount through receipt <br />of the grant proceeds. The interim $75,000 funding plus the City contribution of $48,300 requires <br />authorization to expend $123,300 at the time the purchase is finalized. <br />COUNCIL ACTION REQUESTED: <br />Motion to authorize the expenditure of up to $123,300 for the purchase of the additional 8.3 acres <br />of open space property to be acquired in the Saga Hill area, $75,000 of which is to be reimbursed <br />through the Natural and Scenic Area Grant; and to amend the 1999 Park Fund Budget to reflect this <br />expenditure.