February 2015 - Parks & Recreation - 45

Tomorrow's Park at

Today's Price
Financial loans for land acquisition and facility operations offer oft-overlooked
purchasing opportunities for park and recreation agencies
By Reggie Hall

B

rrring! Brrring! Phone call. A key tract of land, the one identified in your
comprehensive plan and that your department has had its eyes on for
years, is now listed with a Realtor and is on the market. What do you
do? Slump in your chair and say " Oh well... " and lament that there's no
funding for the ballfields, playgrounds or rail-trails that might have been? Or do you
spring to action and start trying to figure out how to make an offer and respond to
the opportunity? How are you going to pay for tomorrow's park at today's price?

	

their fingers. They had ample concern that the community might not
secure funding in time to nearly double the size of Pond Park. The city
of Bozeman had recently approved a
$15 million bond for the preservation
and creation of trails, open space and
parks, but the funding would not be
available in time to meet the landowner's need for a quick sale.
So, GVLT stepped up to purchase the property in 2013
with a $720,000 loan from
the Land Conservation
Loan Program (LCLP)
of The Conservation Fund. The
property,
valued at

Illustration by Jeff Byrd

Multiple Benefits for Bozeman
The community of Bozeman, Montana, faced this very dilemma. The
16-acre Bozeman Pond Park is located in a densely populated, rapidly
growing part of the city. It's highly
popular with residents, who regularly
enjoy its trails, beaches, fishing access, dog park and climbing boulders.
When a 12-acre property adjacent
to the park came on the market, it
seemed like a natural opportunity for a
much-needed expansion because it was
the only significant open space remaining nearby. It was also an attractive location for future residential development.
Market events move quickly, and
the Gallatin Valley Land Trust
(GVLT) did not want to see this conservation opportunity slip through

$800,000, was secured with a ninemonth loan at 3 percent with the
property deed as collateral.
Protection of this land for Bozeman's
residents came with additional benefits.
GVLT sold three of the newly acquired
acres to HAVEN, a domestic violence
shelter and advocacy organization, for
use as a new shelter site. The remaining
land was purchased by the city of Bozeman as an expansion of the park.
" Without help from The
Conservation Fund,
we would

W W W. N R PA . O R G | F E B R UA R Y 2 0 1 5 |

Parks & Recreation

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February 2015 - Parks & Recreation

Table of Contents for the Digital Edition of February 2015 - Parks & Recreation

February 2015 - Parks & Recreation - 1
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