The Regional Parks Bonding Program is targeted for acquisition, development, and redevelopment projects in the regional parks system. Park development should be based on the principle of providing and maintaining quality public park areas and facilities, primarily for residents of the metropolitan area.
Two primary funding sources make up the bonding program:
- State of Minnesota general obligation bonds authorized in statute and appropriated in session law
- Met Council-issued Regional Parks bonds under authority of Minn. Stat. § 473.325
Per the 2040 Regional Parks Policy Plan and the Met Council’s capital financing policy, we match every $3 of state bonds with $2 of regional park bonds. We distribute parks bonding funds to the agencies according to a formula defined in the 2040 Regional Parks Policy Plan:
70% based on the population within the jurisdiction of each agency, compared to the region’s total population
30% based on the number of visits an agency hosted from individuals who live outside the agency’s jurisdiction (non-local visits)