JMRPWG agenda 052599 - Laserfiche WebLink

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5 / 18 / 99 2025, the County will need 3100 acres with a current projected deficit of 1265 acres. Details on how these projections were generated may be found in Appendix J. Based on the projected future need for 1 , 265 new acres of parkland , the Work Group has determined that the current critical need is to begin land banking . This concept is similar to any kind of bank - it essentially establishes a " savings account " of land . Once the savings account has been fully funded , land can be withdrawn and developed for specific parks and recreation needs . Simultaneous with the population increase , land in Orange County is rapidly increasing in value . Large tracts are being subdivided , and options for geographic locations of parkland in every township are diminishing . Funds should therefore be devoted to land banking rather than to developing recreational facilities . Land banking should be done based on projected size and location of parkland throughout the county . Based on the most commonly accepted standards , the county/towns will need the following new parks just to meet current deficits . • of Park NumberNeeded Acres District 1 or 2 countywide 1 @ 600 acres , or 2 @ 300 acre average Community 0 * 0 * Neighborhood 12 5 - 20 acres each * - The total acreage in community parks currently exceeds acreage needs, but the existing community parks (three in Chapel Hill, one in Carrboro and one at Efland-Cheeks) may not meet the geographic needs of the County. Community park needs appear to exist in Hillsborough, northern Orange County and southwestern Orange. The estimated cost of purchasing this acreage countywide , in 1999 dollars , is $ 10. 1 million dollars . Over time, the cost of purchasing land for parks will undoubtedly rise dramatically. 40