Parks and Recreation System Master Plan Update (2016) parks_and_recreation_system_master_plan_update_oct | Page 9

(See Table B below. A discussion of the components of this cost estimate can be found in
Chapter V.) It should be noted that these figures were not intended to represent a cost which
would be borne entirely by Louisville and Jefferson County Governments (now
Louisville/Jefferson County Metro Government), but rather an estimate of the total capital
expenditure. Much of the financing could come from sources outside local government
structure. For example, federal funds provided for 37.5 percent of all capital expenditures on
parks in Louisville between 1978 and 1993. While federal funding has continued to decline in
recent years, local governments around the country are finding new ways of meeting public
service commitments, often through more interactive relationships between the public and
private sectors. For example, in its 26 years of existence, the Louisville Olmsted Parks
Conservancy has raised about $30 million in private funds for renovation and restoration of
Olmsted parks and parkways in Louisville. Various sources of funding and other implementation
options are discussed in Chapter V of the Master Plan.
If the $93 million total in capital expenditures recommended in the 1995 Plan had
been spread evenly throughout the Plan’s 25-year implementation period, the annual capital
cost would have equaled $3.72 million in 1995 dollars (not including any allowance for debt
financing). If the $144 million in total had been spread evenly throughout the Plan’s 25-year
implementation period, the annual capital cost would have been $5.76 million (again not
including any allowance for debt financing). This is equal to an expenditure of only $8.53 per
annum for each of the existing residents of Louisville, which would have been a sound
investment in the community’s quality of life. The Louisville Metro Parks and Recreation
Department capital expenditure projection for fiscal year 94/95 (based on the approved City and
County budgets) equaled $5.46 million.
Table B
CAPITAL COSTS ESTIMATE (IN 1995 DOLLARS)
Item
Parkland Acquisition
Existing Park Upgrades
New Parkland Improvements
Recreational Facilities
Greenways
SUBTOTAL
CUMULATIVE TOTAL
Top Priority
20,000,000
20,000,000
16,800,000
12,100,000
24,000,000
92,900,000
92,900,000
Second Priority
4,000,000
0
5,600,000
9,400,000
8,000,000
27,000,000
119,900,000
Third Priority
0
0
5,600,000
10,800,000
8,000,000
24,400,000
144,300,000
Total
24,000,000
20,000,000
28,000,000
32,300,000
40,000,000
144,300,000
* Figures are rounded to nearest 100,000
Note: The subtotal indicates the sum of costs for each priority column. The cumulative total starts with the subtotal for top
priority column and successively adds the subtotals for the second and third priority columns.
Source: Wallace Roberts & Todd
Parks and Recreation System Master Plan | SUMMARY
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