Item 4F
SPDC Matching Funds Request The Miracle League of Southlake
Item 4F
Requested Action
Approval of:
100% match of cash contribution towards Miracle League Field construction
Miracle Field
Background Information
Miracle League Southlake (MLS) pledged to raise funds to offset $485,000 Miracle League Field cost
Sept ‘12 – City Council approved $50,000 SPDC Matching Funds from MLS
Feb ‘13 – City Council approved the Texas Rangers Miracle League Field Naming Rights Sponsorship Agreement (Partnership of City, Rangers & MLS @ $100,000)
SPDC Matching Funds Policy:
CS Director & Park Board recommends project based on policy criteria
SPDC & City Council also considers funding aspects of the project
SPDC’s Recommendation should be based on…
Is the project consistent with the overall intended use of Bicentennial Park as per adopted Southlake 2030 PROS/CF Master Plan?
Does it meet SPDC Matching Funds Project Evaluation criteria?
Linked to City’s Strategy Map and Focus Areas
Related to current funded CIP project and 5-yr CIP
Benefit Southlake residents
Enhance current parks and recreation system asset
Assist with acquisition of a capital purchase
Has useful life of at least 5 years
Accelerates completion of CIP or PROS/CF Master Plan project
What’s the Overall Benefit to Southlake residents?
Return
SPDC Matching Funds Budget
Available Balance $379,506
(No matching funds FY13 to date)
MLS Request -$ 10,250
Balance $369,356
Financial Considerations
Board / Council Review
Park Board approved (5-0) April 8, 2013
SPDC & City Council to consider April 16, 2013
Questions?