HomeMy WebLinkAboutF-8a - Establishment of Amortization Fund for Oasis Multi-Purpose Room Maintenance and RepairIt
January 25, 1982
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,J A N5 198? CITY COUNCIL AGENDA
ITEM NO. $ (a)
By t ,, �;; � E:.UU�1C1l.
�3"� t•.;n�i�r�R�T BEACH
TO: MAYOR AND CITY COUNCIL
FROM: Parks, Beaches and Recreation Director
SUBJECT: ESTABLISHMENT OF AMORTIZATION FUND FOR OASIS MULTI -PURPOSE
ROOM MAINTENANCE AND REPAIR
RECOMMENDATION:
That an amortization fund be established which will set aside
30% of the funds received for the rental of the OASIS Multi-
purpose room. The monies deposited in the fund will be used
for major repairs and replacement of equipment in the OASIS
Multi -purpose room.
BACKGROUND:
The Friends of OASIS, Inc. recently requested that staff investigate the
feasability of establishing an amortization fund for the maintenance,
repair, and eventual replacement of equipment and facilities at the OASIS
multi -purpose room. The multi -purpose room is currently used for senior
citizen programs, PB & R recreation classes, Coastline classes, and outside
rentals (weddings and parties). An amortization fund would set aside a
percentage of rental, fees to be used for maintenance and repair.
Amortization funds are currently being successfully administered for our
tennis and surfing programs. In these programs 30% of class fees are
set aside for repairs and the purchase of new equipment. Staff feels that
a similar percentage of 30% will provide an adequate fund for major repairs
at OASIS. Routine maintenance would remain in the operating budget for
the center allowing daily maintenance to continue to occur.
The remaining 70% of the fees will be used to provide rental supervision
and administration. The Friends of OASIS, Inc. Board has approved the
concept of an amortization fund and agreed to the 70/30 percent split.
The Parks, Beaches and Recreation Commission at their meeting of January 5,
1982, unanimously approved the recommendation as presented. The establish-
ment of this fund will set up a long term plan for the preservation of one
of the City's finest facilities.
Ronald A. Whitley
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