Laserfiche WebLink
•ityof <br /> ( x <br /> \4 <br /> Elk • <br /> River <br /> Development Scenario 1- Urban Service <br /> Assuming 100 acres @ 2.2 lots per acre (220 lots) ($10,000/acre) <br /> Cost of 100 acres of raw land $ 1,000,000 <br /> Cost of raw land per lot $ 4,545 <br /> Development cost per lot (costs can vary): <br /> Closing costs $ 50 <br /> Special assessments $ 12,000 <br /> Engineering $ 1,500 <br /> Park fees $ 650 <br /> Grading $ 1,000 <br /> Electric $ 420 <br /> S SAC $ 300 <br /> WAC $ 1,300 <br /> Surface water management $ 138 <br /> Plat fees $ 6 <br /> Carrying Costs $ 8 <br /> $ 17,371 <br /> Profit/lot (30-40% for bank financing) $ 10,000 <br /> Market Value of developed lot ($30,000-45,000) $ 31,917 <br /> Property value 10% land dedication (100x10,000x.10) $ 100,000 <br /> Market Value of 10% land developed (30000x220x.10) $ 660,000 <br /> 220 lots <br /> Park dedication at 650/unit $ 143,000 <br /> Park dedication at 1,100/unit $ 242,000 <br /> Park dedication at 1,250/unit $ 275,000 <br /> Park dedication at 3,000/unit $ 660,000 <br /> IIII <br /> 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD&Phone: (612)441-7420 • Fax: (612)441-7425 <br />