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<br />Park Land Acquisition Fund (456) <br /> <br />Background: <br />The Park Land Acquisition Fund is used to account for park fees received from development. Per City Code <br />2101.060, the funds may only be used for the purposes of land acquisition, land development and capital <br />outlay for parks, playgrounds, public open space, storm water holding pond areas, and debt retirement in <br />connection with land previously acquired for such public purposes. <br /> <br />Source of Funds: Payments received during development for parks is the primary source of revenue in <br />the fund. The fee amount is identified in the City’s Fee Schedule. Revenues have been included at a <br />conservative amount of $10,000 per year <br /> <br /> <br /> <br /> <br />10