Parks administration is seeking approval for allocation of the above Parks Redevelopment costs as follows:

Description	Amount of Funding	Funding Source Allocation
Funding received from WUC for Parks Redevelopment	$568,000	Reserve Fund 151-Parkland Acquisition
Multi Use Pathway	$49,786	PFO-012-12: Park Trails (2020)
Benches Replaced in Park Development	$10,000	PFO-010-20: Park BenchReplacement Program(2020)
Lighting for Park Development	$52,000	PFO-003-19: Park LightingInstallation andReplacement (2020)
Total Capital FundingRequest For ParkRedevelopment	$679,786

In addition to the parks development costs noted above a playground with an estimated installation cost of $340,100 has been approved by Council (CR539/2017), has been purchased, and is currently available to be installed during the park redevelopment.

The new assets noted above will add to the overall asset portfolio. These, along with any other new assets added since 2018 will be factored into the 2023 Asset Management Plan (AMP) to determine what, if any, impact they will have on ongoing capital funding levels to sustain current service levels. Further, as these assets are introduced into service, Administration will be able to better understand what, if any, impact they may have on operational costs. While individually a new asset may not result in an increase to operational or capital costs, the totality of all new assets may, and will be reported through the annual budget process. In the case of larger scale master plans, given the volume of assets typically recommended, some level of