There is approximately $389,000 remaining in the city’s portion of the 1995 Open Space Bond Fund. The redevelopment agency is proposing to use a portion of that to help fund the purchase. Then, the agency would use Tax Increment Financing funds for the balance of the purchase price and to build a trail in that segment, which is estimated to cost just under $500,000.

“Construction of the park is a longer term project,” Buchanan wrote. “We would want public input into what form the park should take and what elements should be included. We have some very schematic concepts, but they are simply for illustrative purposes at this point. This park will have a significant positive impact on these neighborhoods and it is certain that residents in the area will be quite involved in its design.”

The southern portion of the property is vacant, and Buchanan said it is an ideal location for a 4-5 acre park that can serve a variety of needs in the Franklin to the Fort neighborhood that are sorely lacking in open space and park land.