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5/26/99 <br />B. Funding Sources <br />1. Alternative Sources <br />The means and methods of funding future recreation and parks needs <br />may involve a number of approaches and combinations. As discussed <br />in Section III, a coordinated approach for capital funding of <br />acquisitions might be desirable. Some possibilities for funding sources <br />might include: <br />• .Bond referenda from the County or Towns <br />• Grants from. programs such as the NC Parks and Recreation Trust <br />Fund, the Natural Heritage Trust Fund (via state agencies), the <br />Clean Water Management Trust Fund, Conservation Reserve. <br />Enhancement Program, and other sources (add examples) <br />• Allocations from local government general funds or special accounts <br />• Contributions from other agencies with interests <br />• Matching funds from local governments <br />• Payment-in-Lieu or New Program of funding through development <br />(see Sections VI and VII) or School/Park Reserve Fund <br />• Future Federal programs for open space and parks (Lands Legacy / <br />Better America Bonds Initiative) <br />• NC Conservation Corps (AmeriCorps/VISTA) <br />2. Local Funding of State Trust Funds: Parks and <br />Recreation Trust Fund /Natural Heritage Trust Fund <br />Two of these potential funding sources are funded through locally <br />collected revenue stamps. Currently, the County collects $2.00 per <br />thousand on the sale prices of houses. Of this money, 48% goes to <br />the State, while 52% ($1.04 of the $2 stamp) stays in the County. <br />Three-quarters (75%) of the State's portion goes to the Parks and <br />Recreation Trust-Fund established under G.S. 113-44.15. The money <br />collected under this fund is appropriated annually by the NC Parks and <br />Recreation Authority and used as follows:1 <br />1. Sixty-five percent (65%) for the State Parks System for capital <br />projects, repairs/renovations of park facilities, and land acquisition. <br />2. Thirty percent (30%) to provide matching funds to local <br />governmental units on adollar-for-dollar basis for local park and <br />recreation purposes. These funds. shall be allocated by the North <br />Carolina Parks and Recreation Authority based on criteria patterned <br />after the Open Project Selection Process established for the Land <br />and Water Conservation Fund administered by the National Park <br />Service of the United States Department of the Interior. <br />' Information on the Parks and Recreation Trust Fund is taken from the corresponding state statutes. <br />27 <br />