Orange County NC Website
r <br /> F . Orange County School / Park Reserve Fund <br /> In the early- 1990 's , the County established a capital fund equivalent to one cent <br /> on the tax rate for future school / park land acquisitions . The fund currently <br /> receives 1 / 3 cent of the County tax rate , and stands at $ 2 . 57 million . <br /> In the last 18 months, fostered by the work of the Schools/ Land Use Councils , <br /> the County, Towns and both school systems have adopted memoranda of <br /> understanding that address the desire to , co - locate, where feasible and <br /> appropriate , future schools and park sites . <br /> To clarify the use of the School / Park Reserve Fund , the Board of Commissioners <br /> in May of 1999 appointed a School/ Park Reserve Committee ( SPRC ) to address <br /> guidelines and criteria for use of the fund . The SPRC report ( including criteria <br /> and guidelines ) were adopted by the BOCC on December 7 , 1999 , and provides <br /> for additional flexibility in use of the funds and changes in allocation of future <br /> revenues : <br /> In general , the guidelines provide for the following uses of the fund . <br /> • When deemed appropriate , the fund may be used on a $ 1 : $ 1 matching basis <br /> to assist Towns in meeting parks needs <br /> • The land in question must be owned by a governmental entity before funds <br /> are committed <br /> • The fund should not be used for parks design or parks planning , unless the <br /> funds are used to complete the project <br /> • Accumulated interest in the fund may be tapped for facility development <br /> needs not addressed through bonds or other means . <br /> • The existing funds ( $ 2 . 24 million at that time ) should be retained for future <br /> land acquisition , with bond funds and other sources used for facility, <br /> development . <br /> • To provide flexibility, the school/ park co - location need not be readily <br /> apparent at the time of acquisition . <br /> G . Acquisitions via Development ( Land Dedication , Payments - in - Lieu ) <br /> Each jurisdiction has provisions in its development ordinances for the dedication <br /> of land for recreation and open space via new development . <br /> In general , the Town of Chapel Hill has . provisions for recreation and open space <br /> dedications for new projects . Land dedicated for these purposes by new <br /> developments may be used for recreation and open space uses , as agreed to by <br /> the developer and approved by the Town Council . <br />