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METRO ~ ~_ -~-.~_=~-~ <br />CE\'ELOPAIENT Pf.JPE RTIES bIT\.\G Ert~ENT <br />November 9, 2005 <br />°` ~:~_ <br />Ms. Catherine Mehelich <br />13065 Orono Parkway <br />Box 490 <br />Elk River. MN 55330 <br />RE: T iic Blufs Uf Ek iu' : C: and Jackson Place <br />Park Dedication Fees <br />Dear Ms. Mehelich: <br />The Bluffs of Elk River has started construction and Jackson Place is preparing to start <br />construction. Payment of Park Dedication Fees is one of the requirements of the <br />Building Permit Application. The Bluffs of Elk River and Jackson Place are prepazed to <br />submit payment of Park Dedication Fees at the 2004 rate. The 2004 rate was approved as <br />a result of a serious of meetings and discussions held with staff, including you, Michelle <br />McPherson, and Pat Klaers. <br />Jackson Place, as pazt of its financing approval, originally had requested from the City <br />considerations relating to Land Acquisition Price, SAC; WAC, and Pazk Dedication Fee. <br />These requests were critical in being able to secure approval from the Minnesota Housing <br />Finance Agency because they illustrated the City's commitment to participating in the <br />Housing Tax Credit Pt'ograin and the affordable housing component of Jackson Place. <br />The conclusion of these discussions was that all but the Park Dedication Fee would be <br />considered as part of the Development Agreement. Further discussions on the Park <br />Dedication Fee focused on the timing and sequencing related to the complexity of this <br />development and the interrelationship of Jackson Place and The Bluffs of Elk River. W e <br />eventually concluded that it would be appropt'iate for the Park Dedication Fee to be <br />frozen at the 2004 rate. <br />The Bluffs of Elk River had requested consideration from the Park Board and staff that <br />the donation of land be accepted in lieu of cash for the Patk Dedication fee. The land in <br />question was the parcel between the buildable area of The Bluffs and the Mississippi <br />River, primazily the wild and scenic area. This request was reviewed, discussed, azid <br />eventually' denied in favor of cash for the Park Dedication Fee. Again. as paz-t of this <br />final discussion, the Park Dedication Fee was agreed to be frozen at the 2004 rate. This <br />decision was reached in early 2005. It was approved by both Michelle McPherson and <br />Pat Klaers. <br />i)i'i"•.C l'. U±LG-4 G.T838 - ~ _i:: GJ LG4G.8947 ~. , i'. N'N'R'.MET 0.0PL\INSC OhI - iG00 UNIVERSITY AVENUE -SUITE ?I? $T. PAUL, hIN JJ 10~-38?i <br />