25J - CENTENNIAL REGIONAL PARK - Laserfiche WebLink

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Amendment to agreement - Centennial Regional Park May 17, 2004 Page 2 PHASE OUT PLAN (3 YEARS) Both the City and County desire to amend gradual three-year phase out of the revenue of Centennial Regional Park and the ultimate with the County of Orange. the agreement to provide a and maintenance cost sharing termination of the agreement The City will continue to have sole responsibility of ownership, operations and maintenance of Centennial Park. As part of the three-year phase out plan, the amendment will require the County to provide a maximum annual three-year contribution of $230,000 to the City for the operations and maintenance of Centennial Regional Park site and Patricia Lane Park Improvements. The amounts identified below reflect the maximum contribution to Centennial Regional Park and an estimated amount to patricia Lane Park. FISCAL YEAR MAXIMUM CONTRIBUTION TO CENTENNIAL PARK PATRICIA LANE PARK AMOUNT FY 03-04 FY 04/05 FY 05/06 $150,000 $125,000 $100,000 $375,000 $ 80,000 $105,000 $130,000 $315,000 $230,000 $230,000 $230,000 $690,000 TOTAL FISCAL IMPACT Approval of this amendment agreement will provide for a gradual three- year phase out of the county's financial participation in Centennial Park maintenance cost and addi tional funding for patricia Lane Park Improvements. Funding to offset the county's financial obligation can be generated through increase soccer revenue on the new synthetic turf soccer fields. Jon ip" Ribble Executive Director Parks, Recreation Services Agency & Community APPROVED AS TO FUNDS AND ACCOUNTS: /inb æ. Cat ti/#tV I ) Rod R. Coloma ~- Executive Director Finance & Mgmt. Services Agency ~ 25J-2