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Cityof Louisville <br />PARKS, RECREATION, & OPEN SPACE <br />MEMORANDUM <br />To: City Council <br />Cc: Adam Blackmore, Parks, Recreation, and Open Space <br />Director; Ember Brignull, Open Space Superintendent; <br />City Manager, Diana Langley <br />From: Open Space Advisory Board <br />Date: September 8, 2025 <br />Re: Acquisitions Reserve Cap <br />The Open Space Advisory Board is glad to see that City Council has been discussing <br />the funding of a long-term reserve for future open space purchases. As we know, <br />opportunities for acquiring high -value open space properties are rare and once missed <br />are gone forever. We recognize that an acquisitions reserve is just one of several <br />funding sources, which also include grant money, the general fund, and partnerships <br />with other municipalities. <br />However, it is an important component, and OSAB feels that the cap of $5 million <br />suggested by Council is too low for future needs given the ever-increasing cost of real <br />estate. The board recommends setting the cap at $10 million, recognizing that this cap <br />will not be reached for twenty years with annual contributions of $300,000. <br />10 <br />