DUNEDIN — The city will close on the purchase of the slice of land adjacent to Hammock Park no later than Wednesday, Interim City Manager Doug Hutchens said. He said the city will borrow money from its own utilities fund to pay $1.34 million for 8.7 acres.
The city will be responsible for paying the sum, including interest, back to the utility account within three years, per city policy. Hutchens said that will give the city time to hopefully secure BP funds from the county, which has tossed around the idea of giving the city as much as $250,000 for the buy, and grant money from the Florida Communities Trust. "We are fairly optimistic we will get those," he said, adding that whatever amount is left to pay after those monies are applied will be paid off with land dedication ordinance funds, or funds paid to the city by developers, and money raised and donated by nature-loving residents.
"All the development in the city is generating those dollars," Hutchens said. "That's the beauty behind the land dedication ordinance — it recognizes that development brings more people, but with more people you need more green space for recreation and peace of mind."