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<br /> <br />MEMORANDUM <br /> <br />TO: Mayor and City Council <br /> <br />FROM: Bill Maertz, Director of Parks and Recreation <br /> <br />DATE: December 20, 2004 <br /> <br />SUBJECT: Consider 2005 Park Dedication Fees <br /> <br />Item <br />Consider increasing the Park Dedication Fees for 2005. The current fees are as <br />follows: <br /> <br />Residential <br />Commercial <br />Industrial <br /> <br />$2,200/ dwelling unit <br />$4,SOO/acre <br />$2,000/acre <br /> <br />Summary <br />An analysis of potential land acquisition costs and the draft 10 Year Capital Improvement <br />Plan indicates the current cash dedication fee will be inadequate to meet projected needs. <br /> <br />It will require several funding mechanisms in order to fund the development of the Elk <br />River park system. Raising park dedication fees is an important flXst step towards ensuring <br />that park acquisition and development will keep pace with growth. <br />Due to increasing cost of land and the demand for more recreational space, the Park <br />Commission voted to recommend the following increases: <br /> <br />Residential <br />Commercial <br />Industrial <br /> <br />$2,800/ dwelling unit <br />$6,000/acre <br />no change <br /> <br />Action Requested <br />The Parks and Recreation Commission recommend that the park dedication fees for <br />residential and commercial development be increased. <br /> <br />Residential <br />Commercial <br /> <br />$2,800/ dwelling unit <br />$6,000/ acre <br />