Property acquisitions
We want to hear your opinions!
Email [email protected]
Email [email protected]
Zeren Property |
Carlson Property |
|
51.37 acres bordering the NE corner of Gateway Park
Estimated value: $2,670,000 Improvements include:
|
40 acres bordering the East side of 360 Trails
Estimated value: Appraisal in process Improvements include:
|
Acquisition partnerships
Pierce County Conservation futures PRogram
The Conservation Futures program preserves open spaces such as fish and wildlife habitats, farm and timber lands, urban open spaces, parks and trails to enhance Pierce County’s quality of life.
|
Great Peninsula ConservancyGreat Peninsula Conservancy preserves and protects natural habitat by partnering with public agencies (like Key Pen Parks) to create local parks, and by placing conservation easements on private land that help sustain family farms and forests through generations.
|
Financing
Great Peninsula Conservancy (GPC) applied to the Pierce County Conservation Futures Program (CF) for funding to purchase a portion (44.96 acres) of the Zeren property. A grant in the amount of $1.5 million was awarded to GPC for acquisition of the 44.96 acres, which was appraised at $1,485,000.
Key Pen Parks will pay GPC for any acquisition costs above and beyond the CF grant funding. Other potential funding sources include the Parks District's General Fund and an anticipated $640,000 in Park Impact Fees from Pierce County.
Additional grant funding may be available, such as through the Recreation and Conservation Office, but no additional applications have been submitted as of late 2024.
GPC has entered into a Purchase and Sale Agreement in the amount of $200,000 with the owner of the Carlson property. An appraisal of the land is under way, and it's anticipated that the purchase price is below appraised value.
Key Pen Parks will pay GPC for any acquisition costs above and beyond the CF grant funding. Other potential funding sources include the Parks District's General Fund and an anticipated $640,000 in Park Impact Fees from Pierce County.
Additional grant funding may be available, such as through the Recreation and Conservation Office, but no additional applications have been submitted as of late 2024.
GPC has entered into a Purchase and Sale Agreement in the amount of $200,000 with the owner of the Carlson property. An appraisal of the land is under way, and it's anticipated that the purchase price is below appraised value.
future use
Both the Zeren and Carlson properties are currently accessed through a private road from 94th St NW. Major work will be required to improve the current single-lane dirt road flanked by heavy forest into a public access road. Fencing on the properties will require maintenance and repair, but the structures on the Zeren property are generally in good condition.
Key Pen Parks leadership has been discussing the potential uses and expenses of developing the Zeren property, with a particular focus on turning it into an equestrian facility. Research so far has included a tour and interview with the Washington State Horse Park (nonprofit organization). The Horse Park relies on sponsorships and grants to balance their budget. It's estimated that Key Pen Parks would also need to subsidize any equestrian facility by about 40%. (Please note that none of Key Pen Parks are self-supported by user fees and that all Key Pen Parks properties are essentially subsidized.)
Providing an equine facility as a Key Pen Park will require either the hiring of additional staff for rentals and maintenance, or leasing out the property to a third-party contractor (the more likely option.) Any lease would be required to include a clause for some element of public access to the property - such as day rental rates for horse training, public walking paths, playground or something similar.
Key Pen Parks leadership has been discussing the potential uses and expenses of developing the Zeren property, with a particular focus on turning it into an equestrian facility. Research so far has included a tour and interview with the Washington State Horse Park (nonprofit organization). The Horse Park relies on sponsorships and grants to balance their budget. It's estimated that Key Pen Parks would also need to subsidize any equestrian facility by about 40%. (Please note that none of Key Pen Parks are self-supported by user fees and that all Key Pen Parks properties are essentially subsidized.)
Providing an equine facility as a Key Pen Park will require either the hiring of additional staff for rentals and maintenance, or leasing out the property to a third-party contractor (the more likely option.) Any lease would be required to include a clause for some element of public access to the property - such as day rental rates for horse training, public walking paths, playground or something similar.
Comments or questions
Please note that some of the images below may also show neighboring properties that are not part of this acquisition.