The 100 acre piece of property off of Johnston Street known as the Horse Farm is on schedule to be developed into walking paths, bike trails and gardens.
But in order to get the property the proper makeover, city officials need money.
"Technically the request is coming from the community foundation of Acadiana to the Lafayette Public Trust Financing Authority," City-Parish President Joey Durel tells News 10. "They have public money not tax dollars. These are dollars they have earned over the years. We have requested to fund the soft costs."
Durel explains the soft cost money in the amount of 2.6 million dollars will be used to plan out what the park will look like based on the input from the community. "Collectively as a community what do we want there with the rules that are in place. We know there cannot be any athletic fields, other than that it's kind of wide open."
The board did not approve the Horse Farm money on Tuesday, but it did vote to begin negotiating an agreement to help fund the project.
Construction on the estimated 30 million dollar project could begin sometime next year.