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It is recommended that the $74,213.33 be taken from the $300,000 earmarked in the
School District #43 agreement with the City. This money is to be used for the
development of lands to the west and south of Hazel Trembath School, including Parksite
No.5. Should Genstar not spend the full $986,250, which is the contribution towards the
design and construction of Parksite #5, then the unexpended money will be put towards
the $74,213.33. Also, the City is still pursumg, with the School Board, some financial
contribution towards the $74,213.33, the City feels the School Board shares some of the
responsibility for this cost.

Attached to this report is the appropriate documentation.

There are sufficient funds in the
reserve.