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zz <br />for future years. Based on this, in the year 2000, Orange County will need a total <br />of 2030 acres of park/recreation land in order to meet national adequacy <br />standards. With current park facilities (including projected acquisitions in the <br />next year), a deficit of 645 acres will exist in 2000. In 2025, the County will need <br />3100 acres with a current projected deficit of 1265 acres. Details on how these <br />projections were generated may be found in Appendix J. Based on the projected <br />future need for 1,265 new acres of parkland, the Work Group has determined that <br />the current critical need is to begin long-term. land acquisition ("land banking"). <br />This concept is similar to any kind ofbank -- it essentially establishes a "savings <br />account" of land. Once the savings account has been fully funded, land can be <br />withdrawn and developed for specific parks and recreation needs. <br />* -The total acreage in community parks currently exceeds acreage needs, but <br />the existing community parks (three in Chapel Hill, one in Carrbara and one at <br />Efland-Cheeks).may not meet the geographic needs of the Caunry. Community <br />park needs appear to exist in Hillsborough, northern grange County and <br />southwestern Orange. <br />The estimated cost of purchasing this acreage countywide, in 1999 dollars, is <br />$10.12 midlion. Over time, the cost ofpurchasing land for parks will undoubtedly <br />rise dramatically. <br />I. Recommendations for Use of Current Funds and Future Funding Needs _ <br />Simultaneous with the population increase, land in Orange County is rapidly <br />increasing in value. Large tracts are being subdivided, and options for geographic <br />locations of parkland in every township are diminishing. A priority for use of <br />future funds clearly must be land acquisition for long-term park needs, rather <br />than simply developing recreational facilities (which can be developed over time <br />as the population increases). <br />A program far land acquisition for long-term park needs should be developed <br />that identifies sites that could meet needs (including potential for siting active <br />and low-impact recreation), based on projected size and location of parkland <br />throughout the county. The availability of matching funds from the benefiting <br />jurisdictions should be an important component in future acquisition and park <br />development. The program should also identify an acreage threshold for co- <br />located schooUpark land acquisition and should be developed with the Parks and <br />Resource Lands Council and the Schools/Land Use Council. <br />22 <br />Based on the most commonly accepted standards, the county/towns will need the <br />following new parks just to meet current deficits: <br />