26 Public Parks. 



Vaux, were placed in charge. The design is truly beautiful, and if 

 carried out as commenced, with the park-way, will make Prospect 

 Park and its vicinity one of the loveliest spots in this country. 



Since 1866, 250 acres of the 550, of which it is composed, have 

 been imder treatment, and 19,000 feet in length of carriage, and 

 17,000 feet of walk completed, and over 100,000 trees and shrubs set 

 out ; and since October 20, 1866, when carriages were first admitted, 

 it has become quite a favorite resort. 



The land originally cost the city June 15, 1864, $1,357,606.27 



First addition, Feb. 4, 1866, 158,558.41 



Second addition, May 27, 1867, 752,745.02 



Total cost of land, $2,268,909.70 



Cost of improvements to Dec. 31, 1867, 1,169,604.70 



Total cost, $3,438,514.40 



The interest, payable semi-annually, is raised by annual tax on the First, 

 Twelfth and the Twentieth Wards of the city. Soon after work commenced 

 in the park, the price of lots rose rapidly in the neighborhood, and recent 

 sales show increasing value. The assessed value of the real estate in the 

 Eight Ward, exclusive of the amount assessed for buildings, has increased 

 over 30 per cent, during the last year, while the increased value of the real 

 estate of the Eight and Ninth Wards, being the two wards immediately 

 contiguous to the park, has for the same time, amounted to nearly two-thirds 

 of the increased value of the entire city. A similar increase from the same 

 cause, though not to the same extent, is perceptible in the Twentieth Ward, 

 which comes next in contiguity to the park, and doubtless an increase exists 

 in several of the other wards, particularly the Tenth. 



The records of the Board of City Assessors show that the assessed value 

 of real estate in the year 1864 was : 



In the Eighth Ward, $4,913,274 ' 



In the Ninth Ward, 7,966,471 



In the Twentieth Ward, 7,069,650 



Total, $19,949,395 



The same record for the year 1867 shows : 



In the Eighth Ward, $ 7,983,200 



In the Ninth Ward, 10,743,797 



In the Twentieth Ward, 8,705,090 



Total in three wards, $27,432,087 



Increased in valuation since active operations 



commenced in parks, $7,482,692 



The additional tax which was raised from this increased valuation for the 

 year 1867, was $280,692, while the annual interest on the whole park debt, as 

 it now stands, is $229,219, showing an annual increase of revenue to the 

 city, from three wards alone, of $51,473.* 



* Eighth A nnnal Report of Commissioners of Prospect Park. 



