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AGENDA ITEM #10.7 <br />PeCity <br />qotI <br />TI� <br />Lakes - <br />REPORT TO CITY COUNCIL <br />Report Prepared by: Angie Duus <br />Date: February 5, 2024 <br />Subject: Bobber Tower, Park, and EDC — Franchise Fees <br />Report: The Pequot Lakes Chamber has offered to match $10,000 of funds if <br />the City puts aside $10,000 for the Bobber Water Tower. The <br />Chamber also offered to head up fundraising to go to paint and repairs <br />of the tower. <br />In the past few years the Council has designated the franchise fees <br />received from Crow Wing Power, MN Power and Xcel Energy to the <br />Park Commission. City Staff is requesting the franchise fees be split <br />between the Bobber Tower, EDC and Park Commissions. <br />Council Action Requested: Council motion to designate $10,000 of the 2024 <br />Franchise Fees to the Bobber Water Tower, and split the remainder evenly between <br />the EDC and the Park Commissions. <br />