9.c. PRSR 06-09-1999 - Laserfiche WebLink

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,k/ A� ityof lk River MEMORANDUM TO: Park & Recreation Commission FROM: Pat Klaers, City Administrator DATE: June 4, 1999 SUBJECT: Trott Brook Farms Since the beginning of the year, there have been a number of staff meetings with the Trott Brook Farms developers. We are now dealing with two developers as the original developer is selling part of the project to another developer. The discussions have concentrated on the developers obligations toward some of the public improvements in and around the plat, and park dedication requirements. Park dedication requirements have changed since the preliminary plat was • approved last August. With one motion of the City Council, essentially the park dedication fees doubled from $650 per lot to $1,300 ($1,100 park + $200 trail). A $900 rate was also established for one year for proposals nearing the final plat stage. At that February 22, 1999, council meeting, Mr. Homer Tomkins, developer of Trott Brook Farms spoke to this issue. This issue to Trott Brook Farms is over $400,000 if the fees go from $650 per lot to $1,300 per lot and this is a significant impact on any project. At the February 22 meeting, Mr. Tomkins indicated he was working with the commission and the city on a "package deal" whereby he would be providing land and doing improvements in the park all at once, and then this would complete his park dedication requirements for the entire plat. Everyone seemed to understand that $900 per lot was an acceptable rate to live with and there were concerns expressed about whether or not going to $1,300 per lot for a project already in process was appropriate or fair. In general terms, the proposal that has been presented and which seems acceptable, is that Trott Brook Farms will be given credit for the high land in the park (approximately 8.5 acres) and the high land in the Trott Brook Trail corridor (assumed to be about 1.65 acres). The value of this land is estimated to be between $21,000 and $22,000 per acre. Accordingly, the value the land given to the city would be slightly under $220,000, whereas 600 lots in the • total development times $900 per lot equals $540,000. Therefore, the city would receive $320,000 to complete park improvements and/or consider 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • TDD&Phone: (612) 441-7420 • Fax: (612)441-7425