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., . . . ! . II . .1 D- REPORT To the Honorable Mayor and City Council ~ From the City Manager ~ April 12,2004 Subject Acceptance of the final distribution of the Estate of G.R. Cress and the establishment of the "G. R. Cress Bird Bath Fund" for use in the Redwood City Park System Recommendation It is recommended that Council, by motion, agree to accept the final distribution of the proceeds from the estate of Gene Robert Cress and use the funds to establish the "G. R. Cress Bird Bath Fund" in Redwood City. Background The San Mateo County Public Administrator's Office notified us that they were administering the estate of Gene Robert Cress and that Mr. Cress's will established the Redwood City Park System as his sole beneficiary. The terms of his will dated May 27, 1976 further required the establishment of a "G.R. Cress Birdbath Fund" which would provide for bird baths and food within the Redwood City park system particularly in the winter months. As a condition of our receipt of these funds a special deposit fund must be established so that '- monies are held and accounted for separately. The City Finance Director has been consulted and is able to meet this requirement. In addition, the Department has proposed the installation of four (4) bird feed/water stations in Andrew Spinas, Garrett, Wellesley Crescent and Stulsaft Parks with appropriate recognition of Mr. Cress. Our letter to the Public Administrator with respect to these conditions is included as Attachment I of this report. We also indicate that the architects and neighborhood groups involved in new park development or park remodels would be notified of the existence of the fund so that other feed and water stations might be developed. The documents submitted to the Superior Court for final distribution indicate the total value of the estate at $1 ,338,730, less the statutory administrator's commission and attomey's fees of $26,387. The San Mateo County Public Administrator is requesting that $30,000 be held back for any as yet unknown claims against the estate. A hearing has been scheduled for April 2, 2004 in Superior Court in Redwood City to approve the recommended final distribution. Alternative The Council could choose to decline to be the recipient of the final distribution of the estate of Mr. Cress. Fiscal Impact The receipt of these funds brings more than $1 ,200,000 in additional one time revenue into the City park system. (J¡~- ~n~ "- l-' Ëd Everett Parks, Recreation and Community Services Director City Manager Attachment: Letter to Deputy Public Administrator, 12/22/03