Laserfiche WebLink
PARK IMPROVEMENT FUND REVENUE COMMENTARY <br />The Park Improvement Fund was established by Chapter 22 of the <br />City Code to account for park dedication fees received from <br />persons developing land within the City. All persons developing <br />land are required by development ordinances to either convery to <br />the City a portion of land to be used as a park or to pay a fee <br />in lieu of conveying land to the City. Moniew received may only <br />be used for the acquisition of land for parks, development of <br />existing parks and playground sites, public open space, storm <br />water holding areas; or retirement of debt issued for the above <br />purposes. The City anticipates receiving $12,500 in park <br />dedication fee in 1994 pursuant to existing development <br />agreements. This annual dedication of $12,500 from the Everest <br />Development project will expire in 1997. <br />