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The local government component is based on the allocation formula in the Metro- <br /> politan Greenspaces Master Plan adopted in July 1992 and amended in Novem- <br /> ber 1994. Ownership and management of the land to receive bond proceeds must <br /> be consistent with the master plan. <br /> Metro and the cities, counties and park providers will draw up intergovernmental <br /> agreements to make sure the funds are being used for approved lawful and appropri- <br /> ate activities. <br /> How much In the first year, it will cost approximately 22.5 cents per $1,000 of assessed value, or <br /> will the bond about $22 per year for a $100,000 home. During the life of the 20 -year bond, the <br /> measure cost? average cost per household is estimated to decrease to an average of 15 cents per <br /> $1,000 of assessed value. The reason is that growth will occur in the region and <br /> property values will generally increase, thus bringing down the cost per household <br /> over time. <br /> The intention is to issue bonds that mature in 20 years, although the maturity <br /> period may be changed to 30 years to allow flexibility in responding to the financial <br /> market. If the term is changed to 30 years, the rate associated with bonds is esti- <br /> mated to decrease to 20 cents per thousand the first year and approximately 11 cents <br /> per thousand over the life of the bond. <br /> Bond debt Annual cost per $1,000 Annual cost for <br /> year* assessed value $100,000 home <br /> 1 22.5¢ $22.50 <br /> 5 19.0 19.00 <br /> 10 15.6 15.60 <br /> 15 12.8 12.80 *chart assumes <br /> 20 5.3 5.30 6.5 percent <br /> average cost interest rate <br /> of 20 year bond 15.0¢ $1 5.00 on bonds. <br /> How many Regional parks Proposed acres <br /> acres are target areas to purchase <br /> proposed for 1. Willamette River Greenway 1,103 <br /> purchase in 2. East Buttes and Boring Lava Domes 545 <br /> the regional 3. Newell Creek Canyon 370 <br /> acquisition 4. Sandy River Gorge 808 <br /> target areas? 5 . Cooper Mountain 428 <br /> 6. Forest Park Expansion 320 <br /> 7. Jackson Bottom (Dairy /McKay creeks) 333 <br /> 8. Tonquin Geologic Area 277 <br /> 9. Tualatin River Greenway Access 266 <br /> 10. Clear Creek Canyon 346 <br /> 11. Gales Creek 775 <br /> 12. Columbia Shoreline 95 <br /> 13. Rock Creek 300 <br /> 14. Tryon Creek Linkages 20 <br /> Total greenspaces acreage 5,982 <br /> 2 <br />