City Council agreed to purchase Inland Greens Golf Course for $500,000 for 31 acres of park land at their meeting on March 22.
The purchase will be paid for with funds from the parks bond approved by voters in 2006. In the bond, $2.5 million was allocated by the city for parks in the 1995 and 1998 annexation areas. The money for this park will come from these funds.
The city has determined that the area needs $800,000 in drainage improvements to bring the parcel into compliance with state regulations. The affected homeowners associations contributed $75,000, and $400,000 will come from the city’s stormwater fund. An additional $325,000 of project costs will be funded with Parks Bond proceeds. In total, the city will invest an estimated $1.3 million for the purchase of the park land and needed improvements to the area.
Bonds for the $2.5 million for annexation area parks have already been sold and the city owes this debt whether or not property is bought. The money must be used for the purpose voters specified. It cannot be used or reallocated to help offset any city budget shortfall. The city has to keep its promise to voters who approved the bond.
The city will convert the property into a 9-hole golf course and a passive park.
Get information on the Parks Bond.