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Page 3 <br /> Method ON&rs ieNN Pros Carts <br /> Allow developer Allow developer to select • Provides more legal • Will end up with lowest <br /> to select from whether they want to use the protection as amount of park dedication <br /> options park dedication fee or submit developers have possible.Impact depends on <br /> an appraisal opportunity to select options provide. <br /> preferred option <br /> Require'higher" List multiple options and • Best potential to • Potential for legal challenge <br /> of multiple require the one with the maximize park remains if options are not <br /> options highest park dedication dedication with the based on market realities <br /> amount be selected least amount of • Adds time and cost to <br /> effort by City developer <br /> City Staff and HKGi did attempt to quantify the difference between the various methods.However,the City <br /> does not have enough example appraisals to do such a comparison.If such a comparison is desired,the City <br /> may want to consider conducting an appraisal study as was described in the third option.Such a study would <br /> cost between$5,000 and$10,000 and take two to three months to complete. <br /> City Staff has considered all of the options and recommends that the City Council use the County Assessors <br /> Value to estimated market value of the land for the collection of cash in lieu of the land dedication. Staff <br /> recommends this method as it is the easiest to administer and is generally accepted in the planning and <br /> development community. <br /> Recommended City Code Revisions <br /> Once direction is received from the City Council regarding the industrial park dedication,residential park <br /> dedication,and methodology for the cash dedication,proposed ordinance amendments will be developed.City <br /> Staff did review all of the references to park dedication to identify any additional changes needed.This review <br /> identified the following needs: <br /> 1) As shown below the section regarding the use of the cash dedication specifically references the <br /> payment of funds for trails.The City does not have a trail fee,nor does it intend to require fees <br /> for trails.Thus, it recommended that the sentence be struck to eliminate any confusion. <br /> Sec.30-327..-Dedication of land or contribution of cash for public purpose <br /> (e) Use of cash contributions. Any monies paid to the city in lieu of park dedication shall <br /> be placed in a special fund and used only for the acquisition of land for parks, <br /> playgrounds, trails, and public open space; for the development of such areas and sites; <br /> and for debt retirement in connection with land previously acquired or developed for <br /> such public purposes. Any monies specifically paid to the city for trails shall be used only <br /> for the acquisition of land for trails and for the development of such land. <br /> 2) Currently the City Code requires that as part of the development process the Parks and <br /> Recreation Commission advise the City Council on the acquisition of land.The vision identified in <br /> the recent Parks and Recreation Master Plan is that the City will be emphasizing larger, <br /> community parks rather than smaller,neighborhood parks over the next 20 years.To support <br /> that vision,it is anticipated that more park dedication will be collected through the cash fee <br /> rather than through land acquisition. Because the Parks and Recreation Master Plan provides <br />