FY 2021 2122 ADOPTED OPERATING AND FY 2021 2526 CIP BUDGETS
CITY OF MORGAN HILL Capital Improvement Program
Expenditure Schedule &Category
Parks & Recreation: 110097
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
86120 - Property Acquisition
$770,000
$70,000
$70,000
$70,000
$70,000
$70,000
PROJECT COST
$770,000
$70,000
$70,000
$70,000
$70,000
$70,000
Funding Source(s)
2020-21
2021-22
2022-23
2023-24
2024-25
2025-26
f301 - Park Impact Fund
$770,000 $770,000
$70,000 $70,000
$70,000 $70,000
$70,000 $70,000
$70,000 $70,000
$70,000 $70,000
FUNDING TOTALS
Financial Comments This project pays approximately $70,000 in property taxes annually for land banked park property in the County. Estimated Project Schedule Timeframe
Ongoing
Planning
Right-of-Way Acquisition & Permitting
FY 20/21 and as grant funding becomes available
Operating Cost Impacts No new operational costs are incurred prior to development if other alternate uses, such as farming, can be identified. Without an alternate use, annual cost to abate weeds would be approximately $125 per acre. Property land banked in the County for future City use requires payment of property taxes. New park development will require additional funds for maintenance. New funding levels will be dependent on the size and amenities developed within each park.
2021-2026 Six Year Capital Improvement Program
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