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7 <br /> <br />Appendix A <br />Determining Park Improvement Costs and Funding Sources <br />Stage refers to what stage each park falls under according to the 2040 Utility Staging Plan. The <br />Percent Developed is determined by evaluating each park and identifying what is missing or still <br />needs to be built. Improvements are those that are listed out in the Park Evaluation section of <br />the 2040 Comprehensive Plan. These improvements include both repairs or replacements and <br />new development. <br />Expenditures break down costs into four categories: Replacement Cost, New Development <br />Cost, Land Acquisition, and Trail. Costs for replacement and new development come from 2040 <br />Comprehensive Plan. For purposes of this study only new development costs are used. When <br />a range of costs is listed in the 2040 Comprehensive Plan, the midpoint/average is used. Land <br />Acquisition is mainly relevant to future parks, but is based on land cost value of $50,000 per <br />acre. Trail costs where determined from WSB estimates and the lineal feet of proposed trails. <br />More information regarding how this is calculated can be found in the Appendix B. It is important <br />to note that Trail Expenditures does not include trails that are within the park as these are <br />considered part of Replacement and New Development Costs. <br />Parks that do not exists yet, but are planned, differ slightly from established parks. Their New <br />Development costs are based on estimates, which have been adjusted for inflation, provided by <br />WSB for a standard 5-6 acre park. Land Acquisition expenditures is calculated based on the <br />assumption that each park will be 6 acres. <br />Funding Source is broken down into two categories: Park Dedication and General Fund. The <br />values for these indicate how much money is needed from each funding source to cover the <br />expenditures. Park Dedication can only be used for new development, not on replacements or <br />repairs. This is the found by summing New Development Cost, Land Acquisition, and Trail <br />Expenditures. The General Fund can be used for any park improvements and, for the purpose <br />of this study, is composed of only Replacement Cost expenditures and a portion of the <br />recreation complex. <br /> <br />180