p.23 Park levies
7. Need to Review Approvals for Redirection of Cash-in-Lieu Payments for Parkland Dedication Interim cash-in-lieu payment allocation policy requires 25/25/25/25 per cent split
One source of funding for new parkland comes from Section 42 of the Planning Act, which gives the City authority to require either land or cash payment for parkland purposes as a condition of development or redevelopment of land. In 1999, City Council adopted an interim policy on the allocation of cash-in-lieu payments that split funds equally between parkland acquisition and parkland development and further between district and citywide basis. This policy remains in place.