APPROPRIATIONS FOR HERMOSA BEACH YOUTH BASKETBALL LEAGUE ($5,000) AND NEW YEARS EVE CONCERT ON THE PLAZA ($20,000)

Recommendation

Staff recommends that Council appropriate:

1. $5,000 from the Park and Recreation Facility Tax Fund to parks and beach improvements (CIP #506) to be allocated to the Youth Basketball League.

2. Up to $20,000 as required from the Downtown Enhancement Fund to City Council special events budget (# 4319) for a New Year's Eve celebration.

Background

At the October 13 meeting, Council approved a request from Youth Basketball for $5,000 to pay for improvements in the Community Center Gym.

At the same meeting, Council authorized staff to supplement merchant donations for a New Year's Eve celebration (estimated cost of $25,000) on the Plaza with City funds.

Analysis

Although Council approved both of these items at the last meeting, this action is required to appropriate funds for each project to the FY 98-99 budget.

The Park and Recreation Facility Tax Fund is typically where the City would expend funds for improvements in the gymnasium. As such, an allocation from this fund for the Youth Basketball request would be fitting.

Similarly, Council typically spends money from the Downtown Enhancement Fund for special events located in the downtown area. With the New Year's band scheduled for the Pier Plaza, an appropriation from this fund would be in line with previous Council actions.

Fiscal Impact:

$5,000 expenditure from Park and Recreation Facility Tax Fund.

Estimated fund balance at 6/30/99 is $583,351.

Up to $20,000 expenditure from the Downtown Enhancement Fund.

Estimated fund balance at 6/30/99 $403,953.

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