Title:
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Option to Fund Open Space and Affordable Housing
If the Board wishes to fund $2.0 million for Open Space and $5.0 million for future Affordable Housing Task Force Recommendations, staff recommends the following:
* Create a $2.0 million PAYGO project within the Capital Projects Fund for the purpose of purchasing Open Space. Delay the $1.25 million Kino South Beach Volleyball PAYGO project and reduce the Canoa Ranch Campground Development PAYGO Project by $0.75 million.
* Create a $5.0 million reserve for Future Affordable Housing Recommendations within the General Fund.
* Eliminate the $3.0 million from the Contingency - Inflation, Fuel and Security reserve.
* Eliminate the $2.0 million operating transfer out to the Facilities Management Renewal Fund Project and the corresponding operating transfer in.
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