Parks development funding strategy

Background

We're working to implement a new approach to funding the development of our future parks over the next 10 years.

A proposed funding strategy identifies how the City will fund parks development so that neighbourhood, community, recreation and linear parks keep pace with Kelowna's population growth.

Until now, the rate of developing parks into useable spaces has not kept up with the City's rate of growth. As a result, there is a growing deficit of developed parks, which is insufficient to serve Kelowna's residents. A funding strategy will help align parkland acquisition with park development.

Cost

The cost to implement this strategy would be about $12.1 million per year over the next 10 years and would be shared between development cost charges, taxation and parks revenues. This is about $9.1 million more per year than our existing budget.

Prioritization and timeline

Prioritizing parks and public spaces aligns with Council's new priorities, the community vision set out through Imagine Kelowna, and the "big moves" guiding development of the updated Official Community Plan.

Parks will be chosen for development based on growth projections, the 10-Year Capital Plan, Servicing Plan, and growth nodes identified in the Official Community Plan. Changes would happen over the next 10 years.