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Capital Projects
What Constitutes a Capital Project?
The Capital Plan consists of items that meet the following criteria:
- Monetary value of at least $10,000
- A life cycle with a minimum of three years
- Repair/replacement of existing facilities
- Land acquisition and/or construction of facilities through the extension of existing services and land acquisition and/or construction of facilities through the development of new services.
Capital Funds
In the early 1990s, the Park District Board dedicated a portion of the District's annual tax levy to be used exclusively for capital projects to make improvements to the park system as well as to pay off any Park District debt. Cash-in-lieu funds are received from the City of Naperville through the Land Dedication Ordinance adopted by the Naperville City Council. This ordinance requires land developers to dedicate 8.6 acres of park land per 1,000 people in any planned development or the cash equivalent of the 8.6 acres. Alternative revenue from grants and sponsorships also contribute to project funding.
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