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Pr forum park finance 02 dan anderson
1. Public Parks, Private Value:
An International Perspective on the
Delivery and Funding of Themed
Parks and Gardens
Presentation to Park Russia Forum
March 27, 2014
3. Traditional Park Funding Approaches
Public Parks, Private Value
Parks traditionally treated as pure public
goods
Considered an amenity for local residents
Most of the capital and all of the
operational funding came from the public
sector, with some operational revenue
from concessions and minimal amounts of
sponsorship
Starts to change in 1970s (USA) and
1980s (UK) as recession puts too much
strain on Park budgets
4. Pressure to Find Alternative Mechanisms
Public Parks, Private Value
Park quality declines and many fall into
dereliction
Parks become highly visible symptom of
more general urban economic decline
• Crime
• Litter
• Disrepair
• Lack of maintenance or reinvestment
In strained city budgets, allocations to
parks and recreation were an easy target
5. Common Methods Used to Finance Parks
Public Parks, Private Value
Increased in-Park commercial activity
Implementation of user fees and charges
Cross-funding from commercial assets
Aggressive event-led sponsorship
strategies
Individual philanthropy
Capturing private value of public parks
Privatisation of public space
Exploit commercial assets
Business Improvement Districts
Tax Increment Financing
Developer contributions
14. St George’s Park, Burton-upon-Trent
Public Parks, Private Value
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
2008 2010
Public The FA Sponsorship Private
Original concept required
more than 60% of the
project to be funded by
the public sector and The
FA itself
When restructured, the
project was almost 90%
funded by the private
sector and corporate
sponsorship
Distribution of capital funding, 2008 and 2010
37. High Line Park, NYC
Public Parks, Private Value
15%
15%
25%
14%
39%
47%
PHASE 1 PHASE 2 PHASE 3
Distribution of funding by phase
City State Federal Fundraising Developer Contributions
Phase 1
Phase 2
Phase 3