Central Park Conservancy, the nonprofit charged with overseeing Central Park, is about to receive a $90 million 10-year management contract from the city. The new contract is a significant increase over the current one, which provided the Conservancy with $39.2 million over eight years, and comes only six months after hedge fund billionaire John Paulson made his $100 million pledge to the park.
Park officials justify the increase in spending by pointing out the high cost of maintenance for the city's most visited institution, which has seen a dramatic increase of over 40 million annual visitors, compared to 12 million in 1985.
The Conservancy will also be expanding its scope by maintaining fountains at five other parks, landscaping at eight parks and public spaces, and training workers who'll be deployed outside Central Park.
Eighty-five percent of the $46.5 million spent maintaining Central Park this year was from private contributions.
Parks critics are generally satisfied with the Conservancy's work. Says Geoffrey Croft of New York City Park Advocates, "Clearly, the city thinks they're doing a great job, which they are, for the most part.”
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