A. Life Cycle Care Fund. The city may require the establishment of the life cycle care fund to ensure that the city will care for the donation/memorial for the estimated life of the donation/memorial, or until such time the city determines the donation must be removed and/or relocated for unforeseen circumstances. The establishment of a life cycle care fund applies to all donated park elements installed after the adoption of this policy.

The fund is established with the intent of providing a regular revenue source dedicated and sufficient to reasonably maintain future donations for the duration of their expected life cycle. The cost of a donation will include the cost of purchase and installation, and the funds estimated to be sufficient, based upon the expected life cycle, for maintenance of the donated item. The expected life cycle, routine maintenance and element costs are identified in a separate schedule. This schedule is maintained administratively and may be modified from time to time to ensure that sufficient resources are available to maintain donations.

Accordingly, the city will determine the level of maintenance required for the donated property based upon available budget funding and the type of care needed to reasonably maintain the donation.

At the end of the life cycle term, the donor may choose to extend the life cycle term by paying for the current value of a new donation if deemed necessary by the board and its associated maintenance cost. The city reserves the right to seek a new donor for the donation at the end of the established life cycle should the original donor choose not to renew the donation, or if the city has not been able to contact the original donor. (Ord. 22-001 § 3, 2022)