8.5. SR 10-06-2014 - Laserfiche WebLink

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City of Elk Request for Action River To Item Number Mayor and City Council 8.5 Agenda Section Meeting Date Prepared by General Business October 6, 2014 Jeremy Barnhart,Deputy Director, COD Item Description Reviewed by Ordinance Amending Fee Schedule to Remove Cal Portner, City Administrator Park Dedication Fees Reviewed by Action Requested Adopt,by ordinance, an amendment to the 2014 Master Fee Schedule to remove park dedication fees. Background/Discussion Section 30-327 of the city code establishes the parameters of Park Dedication. In subparagraph a, a 10% of the platted land requirement is established. In subparagraph b,the cash in lieu of requirement is established, and allows the Council to establish the fair market value by resolution. In subparagraph f, fair market value is defined, and requires it to be determined in the same manner as the county assessor for tax purposes. This provided an opportunity for an independent third party to establish the FMV without appraising the property for every development. Historically, the City Council has established a Park Dedication Fee as part of the annual fee schedule. This fee is currently$3,712 per dwelling unit, $7,444 per commercial acre, and$2,485 per industrial acre. The difference reflects the costs of the raw land in these areas, due in part to value added by existing infrastructure (highways,water and sewer improvements, and area park amenities). As shown on the attached spreadsheet, for three most recent platting projects,the Park Dedication Fee imposed by the fee schedule is inconsistent with the fair market value formula established in subparagraph f. The city is nearing completion of the Parks Master Plan, and included within that scope is an examination of the park dedication requirements. Until this master plan has been approved, staff suggests that the park dedication fee identified by the fee schedule be removed, and the park dedication fee (where cash is deemed appropriate) be imposed at a rate equal to 10% of the county-assessed value of the unplatted parcel. The Parks Master Plan is expected to be completed in December. This would impact any plat requiring cash donation,but not yet released for recording. These plats include Coachman's Ridge, Natures Edge Business Center,DHJ Plat, and Heritage Maples. Once these plats are released, there is no opportunity to go back and acquire additional Park Dedication, should the formulas change. P a w E R E U 6 Y Template Updated 4/14 INIM UREI