Extracted from Bristol’s Parks and Green Space Strategy adopted by the Council in February 2008
It is estimated that achieving a â€˜goodâ€™ standard of provision across the whole parks and green space network will cost Â£87million in capital funding (at 2006 prices) over the 20 year life of the strategy. Money for this will come from a number of sources including contributions from developers in the city (est Â£15m), external funding sources such as the lottery (est Â£21m), monies raised from the sale of some green space (est Â£41m) and from the councilâ€™s core budget for Bristol Parks services (est Â£10m). The councilâ€™s usual policy is that all receipts from asset disposals should go into a â€˜single capital potâ€™ for distribution to overall priorities but in this case 70% will be ring fenced for reinvestment back into parks and green spaces.
The achievement of the strategy will be geared to the pace at which capital can be generated; this is why disposal of some land is essential if its ambitious quality improvements are to be realised. It is important to emphasise that it is not the councilâ€™s intention to keep selling land until the funding requirements of the strategy are achieved, irrespective of the importance and â€˜valueâ€™ of the space to the community. On the contrary, should there be insufficient â€˜low valueâ€™, marginal land available once the area planning process has been concluded, the council will review the ambitions of the strategy and consider alternative funding sources.