9.B.1. PRSR 07-11-2001 - Laserfiche WebLink

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Park and Recreation Commission/POI-OS July 11,2001 Page 3 requirement, which would have required 12 acres of land, but they accepted 10 acres with amenity improvements. The most recent Elk River project of a similar nature would be Trott Brook Farms. For that project,the City accepted 12.93 acres of a possible 36 acres of land. In order to determine the cash portion, a value was set for each of the acres based on upland, wetland, pond, and trail corridor ($286,271.24). This was subtracted from the total park dedication of$540,000.00 leaving a net cash contribution of$253,728.76. In this case,the Commission could accept the larger open areas as park and subtract the cost of the proposed amenities(trails,tennis court,and volleyball court)and the value of the accepted land from the overall cash total of$755,640.00. This should leave the City with some cash for park development and acquisition elsewhere in the City. Cash would be collected based on the number of lots that were final platted,and therefore would be"phased in" as the project was phased. Staff has notated the budget as to what the City would/could consider as eligible park dedication items. The Commission should discuss this further. The total"credit" of the items noted on the budget is$236,300.00. Staff also suggests accepting open spaces 2,4,7, &8 for public park as well as the asphalt trail. The total budget for these open spaces is $299,260.00 plus the asphalt trail equals$342,460.00. If this were subtracted from the cash calculation,the net result would be$413,180.00. None of the above numbers calculate a"value" of the land area given. • Recommendation Staff recommends that the Commission recommend the combination option for park dedication for Elk River Station and negotiate with the developer the final cash contribution. The developer and staff will also need to further discuss maintenance of these spaces. S:\PLANNING\MICHMC\PARKNREC\Land Use Cases\P 01-05a.doc