How is the Park District Planning on Paying for Sinaloa Park?
A. The District will be paying for the development of Sinaloa Park using net revenues from its Golf Course Enterprise Fund. This Fund accounts for the operation and maintenance of both Simi Hills Golf Course and the Sinaloa Golf Course properties. The net revenues in the Golf Course Enterprise Fund have traditionally been used to finance large District capital expenditures. For instance, this Fund was used to finance the original construction of Simi Hills Golf Course, Rancho Santa Susana Community Center, and the widening of Madera Road and realignment of Irvine Road at Sinaloa Golf Course. This funding plan represents a financially conservative approach. The District does not intend to borrow any money to pay for the construction of this facility. This approach gives the District the flexibility of developing the project in phases using net revenues in future years. This funding approach will also allow for other parks projects throughout the District to be completed in the ordinary
