In order to renovate all three parks in seven to ten years, we would need to pursue all sources of public and private funding.

In order to become eligible for that public funding, KSA would need to transform itself from a private to a public organization and our parks would become public.

To become a public organization, we would have to form a Local Government Corporation (LGC), partner with an existing LGC such as the Houston Parks Board, or partner with another public entity such as the Humble ISD.

Pros:

• Addresses needs of users
• Upgrades infrastructure and aesthetics
• Parks support image of community
• We accommodate the next generation
  

Cons:

• Most costly, difficult and risky
• No assurance public funds would be available
• Parks become “public”
• Loss of some control
• Potential defections of CA’s
• Political effort
  

One of the big risks associated with this option is that, if the parks become public, CA’s might attempt to defect from KSA because they could get the parks for free.

It is important to understand, however, that even though we would accept public money for improvements, KSA would continue to be responsible for maintenance of the parks. Defections could jeopardize our ability to maintain them to high standards.

There could be other risks also. For instance, TIRZ money might not be available if home prices fall or if the community has more pressing needs.

Also see:
Option One: Business as Usual
Option Two: Do Best Possible with Private Funds