Item 4 - Lands Legacy 083104 - Laserfiche WebLink

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5. Parlo and Open Space — Subdivision Payment-in-Lieu Funds Funds Collected to Dates : $873,672 '7 —does not include expenditures paid out before April 2001 (Little River Park, other) ditures Since April 2001 from this Source Seven-Mile Creek Preserve (Mayes Hill Ltd.) $260,000 Installments FY01-02 thru 05-06 Twin Creeks (MonieseNomp) $50,000 FY 01-02 Blackwood farm (future New Hope Park) $117,000 FY 01-02 Northern Park (NHSQ additional lands $11,481 FY 03-04 Little River Park facilities $40,000 FY 03-04 TOTAL $478,481 prior to April 2001. Encumbered Funds /Acquisitions Unde New Park – southern $30,000? 1 FY 04-05 Available Unencumbered Funds: Funds are collected and must be expended by district. The following is the estimate of available funds for each district park district as of July 1: Northern District $120,147 Cheeks/Hillsborough District $122,159 Bingham District $118,336, Chapel Hill Township District $16,030 6 - Available funds and expended/encumbered funds show a differential of $12,000, reflecting funds used prior to April 2001. Projected Future Expenditures The Parks and Open Space Subdivision Payment-in-Lieu program is designed to provide funds to help purchase lands and provide park facilities for different areas of the County. Each new subdivision pays an amount based on number of lots created. The funds are paid into accounts for 4 geographic districts, and these funds must be expended in that district for parkland acquisition or facilities to serve the residents in the district. It is anticipated that this funding source would in part help to pay for the acquisition of lands for the future North-Central, Southwest Orange and Eno Township parks, as well as helping to pay for facilities at existing parks such as Efland-Cheeks, Fairview, or other parks.