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Show The Newspaper Thursday, July 22, 1982 Page A5 Redevelopment Agency gets loan from city coffers Because of a comDutation error made by county officials of-ficials in Coalville, and an unbudgeted payment for the purchase of the Marsac School, the Redevelopment Agency has borrowed $327,084 from the city. City Manager Arlene Loble told the City Council that, by agreement, a third installment payment was made to the Park City School District for the purchase of the Marsac School prior to June 30 so that the revenues could show in the district's 1981-82 fiscal year budget. That $150,000 payment was not included in the Redevelopment Budget adopted last year. In addition, ad-dition, said Loble, the agency agen-cy experienced another shortfall because of an error by the county in computing the distribution of tax revenues. The county, she said, incorrectly assumed a tax collection rate of 87 percent per-cent and gave the Redevelopment Agency only 87 percent of the amount budgeted for last year. She said that the State Tax Commissioner's office has indicated that the county was in error, and that the agency is entitled to the full amount budgeted. Because the agency has committed debts it must pay, primarily for land purchases pur-chases such as the Marsac School, it requires a loan from the city to cover the 1981-82 budget deficit, said Loble. "Although it may seem inappropriate that the Redevelopment Agency operates in the red, in fact, the intention of a Redevelopment Agency is to incur debt, to be responsible for making payments that are then to be repaid from tax increment revenues that will be generated in the upcoming up-coming year," said Loble. "But since these are debts that have been due and payable, primarily for land purchases, and most specifically for the purchase of the Marsac School, it would be appropriate for the Redevelopment Agency to request a loan in the amount of the deficit." That loan, said Loble, will be repaid to the city with interest in-terest and on a time schedule much like any other loan. Loble also told the council that an additional loan will have to be negotiated by the Redevelopment Agency with the city later this year. She explained that state law requires all taxing entities to set their mill levies by June 15. However, the current valuation figures were not available from the county by that date, and the tax increment in-crement to be collected by the agency was un derestimated by the county, the Sewer District and the Fire District in their budgets. Loble said that to eliminate hardship to those taxing entities and to avoid readopting mill levies, she suggested lowering the agency's tax increment budget for 1982-83 by $52,000. Loble went on to say that the total budgeted expenditures expen-ditures of the agency would remain at $1,406,390, resulting in a shortfall that will require a loan. "Again, to cover the debt for obligations on lands being purchased, the installation in-stallation of sidewalks on the east side of Main Street, and the completion of the Redevelopment Agency's Swede Alley plan, (the agency) agen-cy) will require an additional ad-ditional loan from the city sometime later in the year when that debt is actually incurred," said Loble. Loble said she anticipated that the loan would be for about $100,000 to cover expenditures ex-penditures already committed commit-ted in this fiscal year. The total loans, then, that would be needed from the city would be about $427,000 in 1982-83. The council approved the first loan as well as the adoption adop-tion of the reduced tax increment in-crement budget of $975,000. (CdptunmcM Capsules State helps fund local sidewalks The Utah Department of Transportation announced this week that Park City is to receive $5,000 of the $1 million appropriated by the Utah State Legislature as part of the Safe Sidewalk Program. UDOT representative Tim St. Clair said Monday that the monies are to be used for sidewalk projects in areas around state highways that are considered potentially dangerous to pedestrians. Areas around schools are often of-ten selected as project sites, said St. Clair, and UDOT officials of-ficials work with local PTAs to determine needs. While Park City is to receive the funds this year, the money actually will be used to offset a sidewalk project that has already been completed near the Middle School. City Manager Arlene Loble said the request for the state funds was made before construction construc-tion began on the sidewalk between 8th and 15th Streets on Park Avenue more than two years ago. Last year, Park City received about $2,000 under the same program. To construct the project, the city used general fund monies, which the state funds now will help offset. Loble estimated the total cost of the project at $10,000. According to St. Clair, the state annually appropriates between $1 million and $1.5 million for the Safe Sidewalk Program. The money is then dispersed to the counties in the state based on a formula that analyzes the population of the county, the school enrollment and the number of pedestrian accidents. "Then we figure out a guidepost budget and match it against the request," said St. Clair. Although the money is made available to all counties, coun-ties, not every one requests aid, said St. Clair, so that a larger share of the funds may be forwarded to other areas. Parks Master Plan approved The City Council last Thursday adopted the Parks Master Plan prepared by Gage Davis Associates, which addresses the development of seven parks, the refurbishing of the Memorial Building, and possible additional public recreation facilities to be developed in cooperation with the school district and private developers. The $3 million worth of projects would include the upgrading of City Park, Prospector Park, Rotary Park, the old sewage treatment plant site, the Glenwood Cemetery, the City Cemetery and Gambel Oak Park. Based on studies of existing recreational facilities and city-owned land, and with the help of citizen input at planning workshops, it was determined deter-mined that residents wanted better playing fields for team sports, usable green space in town, bike and equestrian trails, improved indoor sports areas, and indoor or outdoor areas for various types of events. Currently, the city Council is discussing capital improvement im-provement projects that will be initiated or completed within the next fiscal year, including parts of the Parks Master Plan. City Manager Arlene Loble has recommended that during this construction season, the Miners Hospital library area landscaping and road improvements (now under construction) con-struction) be completed, as well as the Prospector buffer strip along Kearns Boulevard, and rough grading and parking lot improvements to Prospector Park. Loble has recommended that next spring and summer additional ad-ditional Parks Master Plan projects include the completion of Prospector Park and the beginning of Phase I of City Park, which will see new softball fields, bleachers, a rugbysoccer field, three tennis courts, 10-station fitness course, basketball and volleyball courts, picnic area, restrooms and a children's play area. The cost of the Parks Master Plan improvements does not take into account other recreational facilities the public may want, such as a swimming pool or convention centerioe arena. Legal action against timeshare company authorized The City Council unanimously approved zoning enforcement enforce-ment action against the Kilburn Vacation Home Share company com-pany for violating the city's timeshare ordinance. City Attorney Attor-ney Tom Clyde has alleged that Kilburn is timesharing at least four single-family homes in Prospector Square, contrary con-trary to an ordinance passed last January forbidding that use of residential homes. One Prospector Square resident said he intends to file a civil suit against the builder of his home, since he feels it was misrepresented as being in a single family neighborhood and he now says he's "living next to a hotel." City Manager Arlene Loble said it may cost the city as much as $30,000 to defend its ordinance, but added that she felt the expenditure was necessary to enforce the city's laws and to protect single-family home owners. How the City Council WDTO Thursday, July 15 MOTIONS Alvarez INK I Lewis Coleman urn w r-r Wo. Shi'llciibergei Wells Plat approval for Skier's Lodge condominiumization. Plat approval for Heber Ave. condos condominiumization. Table ordinance regulating use of electronic burglary alarms. yes yes Approve ordinance establishing estab-lishing beer and liquor regulatory licenses. Approve resolution adopt ing Parks Master Plan. Approve zoning enforcement enforce-ment action against Kii burn timeshare operator. Approve waiver of building related fee for Chamber Bureau information bus. Approve loan from City to Redevelopment Agency to cover debt service for FY 82. yes yes yes yes yes yes yes yes yes yes yes yes abstain yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes yes AUCTION 13 REMAINING SKI CONDOMINIUMS PARKCITY UTAH MINIMUM BIDS FROM $145,000 AN INTERNATIONAL FOUR-SEASON RESORT Just a few hours Hying time for half of the country's population. Park City's three magnificent ski facilities (Park City Resort, Deer Valley and Park West) offer an annual 300 inches of perfect powder, hundreds of miles of cross country and alpine trails with breathtaking breath-taking vertical drops, over 650 acres of open bowl skiing and no lift lines. With magnificent views of all three ski areas, the Saddle's unique location and southern exposure make it one of Park City's most desirable residences. These dramatic tri-level 3 bedroom, Vi to 4 bath flexible floor plans accommodate diverse use of the spacious 2,200 to 3,200 square feet. Luxurious master suites feature jacuzzis as well as fireplaces in most units. Wet bars, lofts, decks and patios are ideal entertainment features. Residents of the Saddle are close to all of Park City's year-round resort facilities. Golfing at two magnificent courses, tennis courts, hiking and windsurfing are just some of the many summer events. DRASTIC PRICE REDUCTIONS The substantially reduced prices of these beautiful luxury homes are reflected in the following table: PREVIOUS AUCTION MINIMUM ASKING SEQUENCE PLAN BID PRICE 3 C-2 (3 br, 3 V2 ba) S 1 95,000 $320,000 6 B (3br, 4ba) 175,000 275,000 13 A (3 br, 4 ba) H-5,000 265,000 Minimum bids are up to $125,000 off previous asking prices. EXCELLENT FINANCING AT I2'2 (13 APR) AS LOW AS 10 DOWN For details, obtain the Auction Catalogue. ONLY 40 MINUTES FROM THE SALT LAKE CITY AIRPORT From Salt Lake City, take Interstate HO east to State I hghway S224. Turn south on 224 to Saddle View Road (just before the Conoco Station). Turn left and continue to the site. TO OBTAIN I I IF. AUCTION CATALOGUE, CALL (S01) 649-3230 DAILY BETWEEN 10 AM and 6 PM The Auction will take place on Saturday, August 7th, 1(AS2. The site open for inspection daily between the hours of 10AM and 6PM liivkcv C i u''i iiiiui AUCTION C( )NI)UCI 1.1 ) BY KCNNI.DYAYll Si )N. INC. SANTA MONICA. CAI II ORNIA in o)ovntmn with SKY! INI. I AND COMPANY PARK CI I Y. i: I AI I C MKT Vnhl wlk'IY pi i illll'lU'll hv I.IU. Mini llUK W lli lii 'I Iv IIUlli'il In lolili'llts ot Hl sl.iU' 111 hu h this roil oUtr i itk tiiil; is not in i mnpluiuv n li (lir tv.il ot.iti' m "(In i l.iws "t tli.it m IvsJ Ki'iiin.'J- iIm'h. IS iu in . |