Identify Funding Mechanisms

The OSA should identify innovative methods of funding mechanisms such as public private models or revenue generating open space uses that can self-sustain and be easy to maintain.

Innovative financing refers to a range of non-traditional mechanisms to raise additional funds for development aid through "innovative" projects such as micro-contributions, taxes, public-private partnerships and market-based financial transactions. (Girishankar, The World Bank, 2009)

The OSA might also consider the scope for offering communities and the voluntary sector
  opportunities to become involved in management and maintenance. Some options are suggested below
  • Facilitating a community to arrange management themselves, with support or appropriate funding from the local authority. Initiatives such as Local Management Trusts who have made financial pledges or committed time to help maintain a space (Planning Advice Note, The Scottish Government, 2008).
  • Encouraging local businesses to contribute to local open space maintenance and environmental improvement initiatives. Committees may be able to attract additional funding. There may be opportunities
  for local businesses to fund open space maintenance by sponsoring green and civic spaces. Business Improvement Districts (BID) are a proven business led strategy, normally a partnership with the local authority, which delivers projects and services that have been identified by the local businesses and are additional to services delivered by the public sector. The BID projects and services are financed by an investment levy agreed by ballot and paid by all businesses that benefit from the improvement in their business environment and the local economy. Examples could include enhancements to local civic and amenity space (Planning Advice Note, The Scottish Government, 2008).