Posted May 8, 2016, 10:22 PM
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Join Date: Jan 2009
Location: Portland
Posts: 7,405
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Also, this analysis of the state of Parks' finances by the City Budget Office is staggering.
Quote:
System Development Charges and Parks’ System Expansion
SDCs continue to provide both an opportunity and a liability. With access to recreation centers and parks being proportionally less in East Portland, SDC resources provide an opportunity to build assets that will serve a greater portion of Portlanders while also positively impacting the City’s equity goals. However, the expansion of parks services will necessarily require a shift of General Fund resources away from other City priorities, such as public safety and housing, in order to fund the operations and maintenance of new park facilities. The City needs to take into account the negative impact of reducing these other services – along with the equity impact this may have on specific communities – when making decisions about expanding Parks’ services.
Due to the economic recovery over the past four years, the bureau has experienced a steady increase in system development charge revenues. Last year the bureau collected $24.0 million in residential and commercial revenues, and ended the year with a balance of $41.7 million. To date, the bureau has collected $16.1 million in SDC revenues in FY 2015-16, indicating that total year revenues are likely to exceed $20 million. The following chart shows the growth of SDCs over the last several years.
Projects confirmed to be funded with SDCs in the five-year plan include:
- Beech Park ($11.0 million total)
- Gateway Urban Plaza ($9.0 million)
- Spring Garden Development ($1.5 million)
- Portland Tennis Bubble ($1.1 million)
Over the next five-years the bureau has plans to allocate the balance and forecasted revenues of $76.0 million to development of other parks and facilities, and $10.7 million allocated for property acquisition. Remaining is $15.0 million that has not been planned or allocated to a project. Based on current SDC resources, the bureau estimates that new, SDC-funded parks may result in the need for $500,000 to $1.5 million annually to support operating costs over the next five years.
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