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Implementation Plan

201

implementation plan

Projected funding will concentrate on current capital

improvement estimates in order to directly tie into

short-term costs associated with Action Items identified

in Section 5.1. The department received one-time

funding in 2014 that increased Capital Improvement

Program (CIP) funding to over $7.5 million, which is

approximately $2 million above the projected average

five-year annual amount budgeted between 2015-2018. In

total, approximately $27.5 million will be available for CIP

funding during this five-year period (

Table 81).

The sources of the CIP Funds, as documented in the

Past Funding section, have primarily been from General

Funds, Park Bonds and Facility Fees. Together these three

sources alone account for 97% of projected funding for

CIP projects over 2014-2018 time-period (

Table 82

).

Revenues collected, as shown in

Table 82

, will not be

sufficient to fund all priority Action Items identified

in Section 5.1. As such, additional sources will need

to be explored. Historically, General Funds, Facility

Fees and Bond Proceeds have provided the majority of

funding needed for capital improvements. As the Parks,

Recreation and Cultural Resources Department proceeds

with analysis of capital improvement, operational and

maintenance costs associated with short-term priority

Action Items, partnerships will continue to grow in

importance. Partnerships, either in the form of additional

funding, provision of services or facilities, have increased

as a national trend as a reliable but competitive source

of support. A successful example of a partnership locally

is the City of Oaks Foundation, which has provided a

source of support in acquiring natural areas voluntarily

from landowners and also assisting with removing cost

as a barrier for participation for citizens through the

Foundation’s ‘Give Play’ initiative.

Grants have been another traditional source of revenue

for many Park and Recreation Departments across the

country. In North Carolina, the two main grant sources

for most Park and Recreation Departments have been the

North Carolina Parks and Recreation Trust Fund (PARTF)

and the Federal Land and Water Conservation Fund

(LWCF). Both funds provide matching grants to local

governments for parks and recreation projects that serve

the public. Over the last several years, state and federal

funding for both programs have been reduced while the

number of communities applying for matching grants

has increased, causing competition for a smaller pool of

grants to increase significantly. Though these two grant

sources have traditionally been reliable, the Raleigh Parks,

Recreation and Cultural Resource Department plans to

utilize existing and new partnerships to identify additional

grant sources. Many of the Action Items identified in

Section 5.1 will provide additional information and data

that will be leveraged to seek new funding sources through

grants and support from partners.

Table 81: CIP Funding for Adopted and Proposed

Projects 2014-2018

Category

2014 Adopted

Funding

Total 5 Year

Proposed

Funding

(2014-18)

Cultural Resources

$135,000

$905,000

Facility Improvements

$2,000,000 $10,330,000

Greenway System

$742,520

$2,077,520

Land Acquisition

$200,000

$1,000,000

Park Development

$2,390,000 $3,315,000

Plans and Studies

$565,000

$2,415,000

Site Improvements

$1,555,000 $7,490,000

Total CIP Funded Projects:

$7,587,520 $27,532,520

Table 82: CIP Estimated Revenue Sources 2014-2018

Category

2014

Revenue

Estimate

Total 5 Year

Revenue

Estimate

(2014-2018)

Bond Proceeds (previous)

$1,100,000 $1,100,000

Transfers from General Funds

$3,092,520 $18,437,520

Parks Facility Fee - Open Space $1,250,000 $5,250,000

Facility Fees - Fund Balance

$2,000,000 $2,000,000

Transfers from Revolving Fund $100,000 $500,000

Interest Income

$45,000 $245,000

Total Revenues:

$7,587,520 $27,532,520

5.2.2 Projected Funding