The Alberta Liberals are promising to give $300,000 directly to community leagues each year.

"This neighbourhood funding is money you and your neighbours will be able to spend on parks, beautification, community centres, and local street fairs," said Leader Raj Sherman.

"It's money that will be spent by communities, in communities, for communities."

The amount works out to $5 per Albertan in the first year of the plan, but will grow by $5 each additional year.

"Taken alone, $5 might not seem like much," said Sherman. "But with the average Alberta neighbourhood association having a population of 4,000, that means $20,000 for you and your neighbours to spend on local priorities - in the first year.

"By year 15, that amount will be $300,000 per year."

The promise would be paid for from interest from the Liberal's Municipal Heritage Fund in which a significant portion of Alberta's resource revenues will be invested.

The Liberals estimate about $1.5 billion could be invested in the fund each year.

The interest from the fund would be distributed 75% to municipal governments and 25% to neighbourhood associations and community leagues.