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(a) Establishment of Fund. The Union Square Park, Recreation, and Open Space Fund (the “Fund”) is established as a category eight fund to receive any monies collected pursuant to the Union Square Park, Recreation, and Open Space Fee, or donated to pay for City activities designed to address park, recreation, or open space needs in the C-3-R Downtown Retail Zoning District.
(b) Use of Fund. Monies in the Fund shall be used exclusively by the Controller or his or her designee (the “Controller”) to pay for new and improved facilities to meet the needs attributable to new recreation, park, and open space users in the C-3-R Downtown Retail Zoning District. The City Administrator shall propose specific projects for use of proceeds in the fund, subject to review, amendment, and approval by the Mayor and Board of Supervisor action through the City’s budget process.
(c) Administration of Fund. The Controller shall submit a written report to the Board of Supervisors at least every two years describing expenditures made from the Fund during the prior two fiscal years.
(Added by Ord. 23-19, File No. 180916, App. 2/15/2019, Eff. 3/18/2019)