HomeMy WebLinkAbout2011-12-06; Public Financing Authority; Resolution 57Exhibit 1
1 RESOLUTION NO. 57
2 A RESOLUTION OF THE BOARD OF DIRECTORS OF
THE CARLSBAD PUBLIC FINANCING AUTHORITY
3 APPROVING THE 2012 BUDGET FOR THE CROSSINGS
AT CARLSBAD AND APPROPRIATION OF FUNDS FOR A
PLAYER'S LOUNGE
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6 WHEREAS, the Carlsbad Public Financing Authority, hereafter the "Authority," has
7 previously entered into a contract with Kemper Sports Management Incorporated for the
8 operation and maintenance of the Carlsbad City Golf Course, The Crossings at Carlsbad Golf
9 Course, hereafter referred to as "The Crossings;"
10 WHEREAS, Kemper Sports Management has developed a proposed 2012 Operating
11 and Capital Budget for The Crossings; and,
12 WHEREAS, at a workshop conducted on October 18, 2011, the Authority received a
13 report which outlined options for improving revenues and golfer customer satisfaction at The
14 Crossings by adding a player's lounge; and,
15 WHEREAS, the Authority directed staff to proceed with the option which would locate a
16 player's lounge in a portion of the area currently occupied by the pro shop, at a one-time cost of
17 $127,000 to be funded with Golf Course Capital Reserve funds;
18 NOW, THEREFORE, BE IT RESOLVED by the Board of Directors of the Carlsbad
Public Financing Authority (CPFA) of the City of Carlsbad, California, as follows:
20 1. That the above recitations are true and correct.
21 2. That the proposed 2012 Operating and Capital Budget for The Crossings is
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approved as set forth in Exhibit 3.
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3. That the Authority does hereby authorize the Finance Director to appropriate
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$127,000 from the Golf Course Capital Reserve account, to pay for costs associated with the
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addition of a Player's Lounge.
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4. That the CPFA Executive Director at his/her discretion is authorized to approve
expenditures above the 2012 Operating Budget provided there are sufficient revenues
1 generated above the 2012 Operating Budget to cover these additional expenditures. In
2 addition, if the Food and Beverage Operation revenue is higher than the 2012 Food and
Beverage Budget, the CPFA Executive Director is authorized to approve expenditures
4 within the Food and Beverage Program up to that additional revenue generated over the
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2012 Budget estimate.
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PASSED, APPROVED AND ADOPTED at a Joint Special Meeting of the
Carlsbad Public Financing Authority and the Carlsbad City Council, held on the 6th day
of December 2011, by the following vote:
AYES: Board Members Hall, Kulchin, Blackburn, Douglas, Packard.
NOES: None.
ABSENT: None.
MAT/T RAL'L, Chairman of the Board
ATTEST:
JRRAINE)M. WOOD, Secretary
(SEAL)
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