§ 1. Background; findings.

1.01.

Section 8.04 of the Richfield City Charter requires that any capital improvement on City-owned property that has an estimated cost exceeding $500,000.00 or expenditures for design or engineering costs exceeding $75,000.00 must be approved by Ordinance after a public hearing.

1.02.

It is proposed that the City Council approve a capital improvement project on property currently owned by the Minnesota Department of Natural Resources but that the City would acquire.

1.03.

The capital improvement project consists of improvement of the City owned property with a 9-hole public golf course and related facilities, including without limitation a driving range and clubhouse (the "Project").

1.04.

The estimated construction cost of the capital improvement, excluding design and engineering costs, is $2,500,000.00 to $3,000,000.00. The design and engineering costs are estimated to exceed $75,000.00.

1.05.

A public hearing was held on January 10, 2000, after due notice as required by Section 8.05 of the Richfield City Charter.

1.06.

For the reasons specified in the following sections, the Council finds and determines that it is in the best interests of the City and its inhabitants that the Project be approved.

1.07.

As the result of airport expansion, the City has been forced to close the Rich Acres Golf Course.

1.08.

The Rich Acres Golf Course was the only golf course located within the City and was an important recreational asset for the residents of Rich Acres and surrounding communities. The Council finds it to be in the public interest to replace that recreational asset.

1.09.

The Rich Acres Golf Course generated significant revenue for the City. The Council deems it to be in the public interest to replace that source of revenue.