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C ONT CTOR <br /> PROPERTY <br /> f F; _ <br /> DEVELOPERS <br /> COMPANY <br /> Creating Neighborhoods of Merit <br /> June 3,1999 <br /> City of Elk River <br /> Pat Klaers <br /> City Administrator <br /> P.O. Box 490 <br /> Elk River,MN 55330-0490 <br /> Re: Trott Brook Farms-Park Fees/ Off-Site Costs <br /> Dear Pat: <br /> Contractor Property Developers Company and D.R.Horton Custom Homes wish to offer <br /> our calculation for net park fees and off-site costs payable with Trott Brook Farms plattings. <br /> • Park Fees <br /> I. Gross Park Fees <br /> A. Phase I(D.R.Horton) 221du x$900/du =$198,900.00 <br /> B. Future Phases(CPDC) 379du x$900/du =$341,100.00 <br /> Total Gross Park Fees =$540,000.00 <br /> II. Less Park Fee Credits <br /> A. Phase I Park Land Dedication <br /> i. 8.46 ac.upland @$21,647/ac =($183,133.62) <br /> ii. 2.46 ac.wetland @$15,646/ac =($ 38,489.16) <br /> iii. 0.36 ac.pond @$15,646/ac =($ 5,632.56) <br /> Total Land =($227,255.34) <br /> B. Trott Brook Trail Corridor(Internal) <br /> i. 1.65 ac @$15,646/ac =($ 25,815.90) <br /> C. County 12 Pedestrian Trail =($ 35,000.00) <br /> Total Credits =($288,071.24) <br /> Total Net Park Fees Due =$253,728.76 <br /> Due From D. R.Horton: <br /> Net Park Fees Due from D. R. Horton =$ 93,372.00 <br /> • Due from CPDC <br /> Net Park Fees Due from CPDC =$160,356.00 <br /> CPDC Corporate Offices: <br /> The Quadrant Building - 7100 Northland Circle - Suite 108 - Minneapolis, MN 55428 <br /> phone: (612)971-0477 - fax: (612)971-0576 - email: cpdc @schererbros.com <br />