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Amending the financing and spending plans in the Department of Parks and Recreation in the amount of $625,000 to reflect capital campaign funding to be received from Como Friends.
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WHEREAS, The Como Friends is a registered not-for-profit organization formed to promote, support, preserve and enhance the Como Zoo and Marjorie McNeely Conservatory; and
WHEREAS, the Como Friends has initiated a capital campaign, whereby it intends to raise $8,450,000 for the betterment of the Como Park Zoo and Conservatory; and
WHEREAS, through this capital campaign the Como Friends intends to contribute to the City $2,625,000 towards the design, construction and improvements to the Japanese Plant Collection Exhibits in Como Park's Marjorie McNeeley Conservatory, the first $2,000,000 of which has been approved and will be dedicated to design development and construction document preparation; and
WHEREAS, improvements to the Japanese Plant Collection Exhibits are consistent with the Como Zoo and Conservatory master plan; and
WHEREAS, there is great interest in the continuation of this project; and
WHEREAS, to allow design work to continue, Saint Paul Parks and Recreation requests that the budget be increased by $625,000 to reflect capital campaign funding to be received from Como Friends; and
WHEREAS, the Mayor, pursuant to Section 10.07.1 of the Charter of the City of Saint Paul, does certify that there are available for appropriation, funds of $625,000 in excess of those estimated in the 2007 Capital Improvement Budget; and
NOW THEREFORE BE IT RESOLVED, by the City Council of the City of Saint Paul, upon recommendation of the Mayor and the advice of the Long Range Capital Improvement Budget Committee, that $625,000 is available for appropriation in the 2007 Capital Improvement Budget, and said 2007 budget, as heretofore adopted by the Council, is here by further amended as follows:
Financial Analysis
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