GEORGETOWN, Texas (KXAN) – The City of Georgetown said Wednesday it acquired 35 acres of parkland near the intersection of SE Inner Loop and Southwestern Boulevard.

It said the land will go towards a future park on the southeast side of the city that was identified as a priority in both the 2009 and 2022 Parks Master plans.

The city purchased the land for $6 million with money from several funding sources, the city said. The money came from a 2008 bond, parkland dedication fees and a donation from the Friends of Georgetown Parks via proceeds from Two Step Inn.

Development of the park is several years out and the agreement allows the sellers a seven-year leaseback, according to the city.

The city said that will give it the time to develop a park master plan, which will include input from the public on possible amenities and features for the new park, and to develop a plan to fund the improvements.

“Creating a park on the southeast side of Georgetown has been a community and City priority for more than a decade,” Parks and Recreation Director Kimberly Garrett said. “We have time to develop the amenities, but securing the land now was important as Georgetown continues to grow.”

The City said it has an option to purchase up to an additional 65 acres in the future.