Title
Resolution Regarding Greenspace Acquisition Fund (B)
Resolution No. 150605
A resolution of the City of Gainesville, Florida, regarding the Greenspace Acquisition Fund; providing for the renaming of the fund; providing for expanded uses of the current and future fund balance; authorizing the City Manager or designee to take all necessary action; providing an effective date.
Explanation
The City of Gainesville has maintained a Greenspace Acquisition Fund (the “Fund”) since 1983. The City has historically used the Fund solely for acquisition of land for conservation, greenspace and park purposes, although the Fund is an “unrestricted” fund (meaning it has no external or legal constraints on how the Fund balance may be expended).
At its meeting of December 17, 2015, the City Commission held discussion regarding the Fund, the Fund balance and historical use of the Fund. The City Attorney was directed to prepare a resolution renaming the Fund the “Greenspace and Community Improvement Fund” and expanding the purposes for which money in the Fund may be spent to include quality of life improvement priorities throughout the City.
Recommendation
The City Commission adopt the proposed Resolution.