Neighborhood Park. A park that provides a blend of open space for passive or spontaneous recreation with developed playground areas for active recreation and designed for use primarily by neighborhood residents of all ages. Depending on the size and composition of the neighborhood, the site could include features such as playground equipment for preschool and elementary age children; older youth facilities, such as a skateboard area, basketball and/or volleyball area, or baseball/softball fields; and other similar amenities. Park sites would ideally be partially scenic or wooded with some open space for future facilities as needs arise. It is important that the site be easily accessible to all ages and physical capabilities. The general service area is within a one-fourth to one-half-mile radius.
Neighborhood Park. A park that provides for passive or spontaneous recreation with developed playground areas for active recreation and designed for use primarily by neighborhood residents of all ages. Depending on the size and composition of the neighborhood, the site may include features such as playground equipment for preschool and elementary age children. It is important that the site be easily accessible to all ages and physical capabilities. The general service area is within a one- fourth (¼) to one-half (½) mile radius.
Neighborhood Park. If, and only if, the City funds the purchase of the Neighborhood Park prior to the date on which all Basic Contingencies are satisfied or waived, then a portion of NMI’s potential liability to make Gap Payments will not be dependent upon the satisfaction or waiver of all Basic Contingencies. The amount of such Gap Payment obligation and the calculation of such amount is as follows: Total TIF Projects (as set forth in the Third Amendment ) $30,809,315 TIF portion of Neighborhood Park acquisition and initial improvement costs (actual City cost) and PP&L Reimbursement $5,202,000 Neighborhood Park acquisition and initial improvement and PP&L Reimbursement costs as a percentage of total TIF Projects 16.88% Residential RMV necessary to generate $30.8 million of TIF funding $288,200,000 Pro rata RMV for Neighborhood Park and PP&L Reimbursement Portion $48,661,140 If Gap Payments are triggered due to NMI’s failure to deliver Projects that generate Target Tax Increment Revenue in accordance with the Schedule, such Gap Payments will first be used to reimburse in the City in amounts equal to the PP&L Reimbursement (defined below) and then to costs associated with the Neighborhood Park acquisition and the construction of the initial improvements thereon.
Neighborhood Park. The Owners have agreed to donate to the City, via Warranty Deed, approximately five point four (5.4) acres of land in the Development to the City for a public neighborhood park. The Owners further agree to complete baseline improvements for the park, according to a design and layout approved by the City, including items such as parking lots, perimeter sidewalks, rough grading, and installation of irrigation and utility stubouts to the park, and to transfer the park to the City by the commencement of the development of the eighty-first (81st) gross acre of the Property (school sites and water assets excluded). This park shall be counted toward the required ten percent (10%) open space for any approved Planned Unit Development (PUD), but shall not serve to satisfy any deficiencies of open space which may exist in a PUD developed prior to the construction of the park.
Neighborhood Park. Landowner agrees to construct improvements in parcel C according to the terms of a park construction agreement as described in Section 5.3.1. On or before issuance of the 50th building permit issued for a residential unit within parcel D and/or parcel H, Landowner shall enter into an agreement with the City to develop the entire Park site (7.3 acres).
Neighborhood Park. A neighborhood park provides space and facilities primarily for active and intensive recreational activities such as softball, tennis and basketball. Recreational activities are primarily non-resource oriented and available for all ages within a given neighborhood. An ideal neighborhood park site is scenic, containing some natural resource areas for passive recreation. A neighborhood park site is usually located a maximum of one-half to three-fourths (1/2 to 3/4) mile from its primary users. Suggested minimum size is one (1) acre.
