CHICO — Trying to be financially wise, the Chico Area Recreation and Park District board is moving to pay down its debt.
But it also has an opportunity to construct something new, using the citys park development fees.
CARD landed an estimated $925,000 in annual pass-through funding to the special district by Butte County.
While figuring its 2012-13 budget, business manager Scott Dowell and General Manager Steve Visconti suggested the money be used to retire debt that would save the district the cost of interest.
Last week, the board supported the idea to further discuss paying off solar panels on the Community Park field house and Pleasant Valley Center, a large mower and of a payback program for a retirement fund program. The board also discussed setting aside $240,000 for operational funding as well.
Dowell noted other estimates, including what the state might do with special districts as well as what money may be due CARD as the redevelopment program is dissolved in Butte County, were questions for the future.
The amount from closing and disbursing the local RDA account, as mandated by the state, … is iffy, Dowell said.
Board members talked about retiring other debt, like payments at DeGarmo Community Park, but most of those have a prepayment penalty or are financially negligible.
Dowell will come back to the board with further details later this summer.
The board left the proposed $6.8 million budget as is, but will be taking comments