Culver City Parks Task 8.1 Final Plan - Flipbook - Page 222
FUNDING
OPPORTUNITIES
Significant collective effort with
local, county, state, and federal
levels is required to fund projects
and maintenance in the parks. The
following section details potential
funding resources for projects.
When developing a funding strategy for a parks
plan of this scale and extended timeline, it will be
important to realize steady and consistent sources
of funding. Federal and state funding opportunities
will change over time, so pursuing and tracking a
diversity of funding opportunities is important. In
addition, private fundraising can help fill gaps and
earned income to fund maintenance can make
the overall funding model for Culver City’s parks
more sustainable and consistent from year to year.
Local City Opportunities
Updated City Developer Fees
Culver City has an adopted ordinance that requires
developers to pay an in-lieu fee based on a density
factor per household type in their development.62
Both the unadopted 2009 Parks Plan as well as the
General Plan 2045 have stated implementation
recommendations to update this fee structure
to optimize fees for park use. This is under review
within the Planning and Development Department
within the city. In addition to this, the city is
exploring options to require a flat-rate-in-lieu fee
for infill residential development as well as future
studies of non-residential development parkland
dedications and fees.63
222 IMPLEMENTATION // PRIORITIZATION, COSTS, AND FUNDING
City Parks Bond
Municipal bonds are a popular way in some cities
to fund park improvements over a semi-long-term
duration. Municipal bonds are frequently used for
capital improvements and the bonds are repaid
over time through increased taxes on the local
population. During the Parks Plan process some
residents expressed interest in a city parks bond
and others were very against any additional bonds
given the already-high tax rates in the city.
Stormwater Credit System
As noted in Section II, there may be opportunities
for Culver City Public Works and PRCS to
collaborate on implementing stormwater in lieu
fee and credit programs for a multi-beneficial
approach for both the city stormwater compliance
needs and efficiency with development project
implementation.
Stormwater credit and in lieu fee programs are
innovative approaches to providing funding
for capital and operations and maintenance
(O&M) costs of stormwater capture project
implementation. The concept for these programs
is to construct large scale, regional stormwater
capture projects that treat upstream new and
redevelopment projects. This eliminates the
need for individual development projects from
implementing on-site, smaller scale stormwater
BMPs.
