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5. Parks and Open Space - Subdivision Payment -in -Lieu Funds <br />Funds Collected to Date (July 1, 2010): <br />$1,286,552 <br />.G.d ::.�,.' �`a�.'l:, sz k',,,.., �' "� a,. �>��a:' r , •� ...''�..L�✓ K� � ;�^� .. ;° ��S> �.��.� A - w.�„�,,� -„ ,.� �;'..c€�.. '�' �'� -�s"� � `''�'';� Fks . - a3,��'.. <br />Expenditures April <br />Acquisition <br />Amount <br />Fiscal Year <br />Sevenmile Creek Preserve (t of Cheeks Dist Pk) <br />$ 260,000 <br />FY 02 -06 <br />Future Twin Creeks / Moniese Nomp Park <br />$ 50,000 <br />FY 02 <br />Future Blackwood Farm Park <br />$ 117,000 <br />FY 05 <br />Cedar Grove Park (Vincent) <br />$ 11,481 <br />FY 04 <br />Little River Park & Natural Area - facilities <br />$ 40,000 <br />FY 04 <br />Future Millhouse Road Park <br />$ 30,000 <br />FY 05 <br />Cedar Grove Park - facility construction <br />$ 148,000 <br />FY 08 <br />Fairview Park - facility construction <br />1 $ 175,023 <br />FY 10 <br />TOTAL <br />1 $ 831,504 <br />Encumbered Funds /Acquisitions Under Negotiation <br />Planned Acquisition /Construction JAmount (est. ) I Fiscal Year <br />TOTAL Is - <br />Available Unencumbered Funds: Funds are collected by, and must be expended by, four <br />individual geographic park districts. The following is the estimate of available funds for each district <br />as of July 1, 2010. <br />District <br />Amount <br />Northern Orange <br />$ <br />57,878 <br />Cheeks /Hillsborough <br />$ <br />96,866 <br />Bingham <br />$ <br />177,958 <br />Chapel Hill Township <br />$ <br />122,346 <br />TOTAL <br />$ <br />455,048 <br />Note: Some small expenditures from the Fund occurred prior to 2000 and are not reflected here. <br />Projected Future Expenditures: The Parks and Open Space Subdivision Payment -in -Lieu program is designed <br />to provide funds to help purchase land and provide park/open space facilities for different areas of the County based <br />on location of the subdivision. Each new land subdivision pays an amount based on the number of lots created (or <br />may dedicate land, in some cases). The funds are paid into four geographic district accounts, and must be <br />expended in that district for parkland or open space acquisition or facilities, to serve the residents of the district. <br />It' is anticipated that this funding source would in part help pay for the acquisition of lands for the future Northeast and <br />Bingham District Parks, as well as helping to pay for open space lands or facilities at existing or new parks. <br />3 <br />