In addition to revenue from other charges and property taxation, local governments can finance parkland acquisition using: development cost charges; contribution, or dedication, of parkland; and cash-in-lieu upon subdivision.
Funds from development cost charges and cash-in-lieu must be deposited to reserve funds for the purpose of acquisition of parkland.
Any local government currently charging parkland development cost charges or using the five percent dedication/cash-in-lieu provsions should consider the following:
Learn more about parkland acquisition best practices and development finance best practices:
Contact us if you have questions about local government parkland acquisition fees.