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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