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Calculation of Open Space and Parks Fund Target Reserve Option 1 <br />2018 <br />Operating <br />Budget <br />Minimum Reserve = 15% of budgeted operating expenditures: $ 2,438,000 <br />15% of <br />Operating <br />Budget <br />$ 365,700 <br />Louisville's projected share of the cost of acquiring 3 highest priority candidate parcels <br />Louisville Share <br />Property <br />Bennett Property (N.2)* <br />Newbold Property (N.3)* <br />Salaman Property (XX)* <br />Acres <br />8 <br />10 <br />19 <br />Estimated <br />Price/Acre <br />$ 49,000 <br />$ 49,000 <br />$ 49,000 <br />Total Price <br />$ 392,000 <br />$ 490,000 <br />$ 931,000 <br />Partners <br />BOCO <br />BOCO <br />GOCO <br />$ 196,000 <br />$ 245,000 <br />$ 465,550 <br />50% <br />50% <br />50% <br />Totals <br />37 $ 49,000 $ 1,813,000 BOCO $ 906,550 Varies <br />Total 15% reserve plus potential acquisition costs: $ 1,272,250 <br />*Property identifier from priority candidate parcels <br />Calculation of Open Space and Parks Fund Target Reserve Option 2 <br />2018 <br />Operating <br />Budget <br />Minimum Reserve = 15% of budgeted operating expenditures: $ 2,438,000 <br />15% of <br />Operating <br />Budget <br />$ 365,700 <br />Louisville's projected share of the cost of acquiring the largest remaining priority candidate parcel <br />Louisville Share <br />Estimated <br />Property Acres Price/Acre Total Price Partners $ <br />Schreiter Property (MM)* 73 $ 49,000 $ 3,577,000 BOCO $ 1,788,500 <br />50% <br />Totals 73 $ 49,000 $ 3,577,000 BOLO $ 1,788,500 Varies <br />Total 15% reserve plus potential acquisition costs: $ 2,154,200 <br />*Property identifier from priority candidate parcels <br />