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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity <br />Request for Action <br /> <br /> <br />To <br />Parks and Recreation Commission <br />Item Number <br />7.4 <br />Agenda Section <br />Action Item <br />Meeting Date <br />February 10, 2021 <br />Prepared by <br />Michael Hecker, Park and Recreation Director <br />Item Description <br />River Walk Apartment - Park Dedication <br />Reviewed by <br />Zack Carlton, Planning Manager <br />Reviewed by <br /> <br /> <br />Action Requested <br />Recommend, by motion, park dedication be paid in the form of cash for the number of units approved <br />by the City Council at the rate applicable when the subdivision is released for recording (Currently - <br />$4,897.04/unit) with credit for existing uses. <br /> <br />Include a 20’ trail easement above the bluff for the entire length of the property. <br /> <br />Background/Discussion <br />The subject property is located on the former Saxon Motor site <br />along Zane Street (see red dot on Figure 1), and includes the Saxon site <br />along with two vacant lots between Saxon and Elk River Lodge. <br /> <br />The proposal constructs two 89-unit apartment buildings in two <br />phases. The existing Saxon building would be demolished with phase <br />one and replaced with the first building. <br /> <br />The Parks and Recreation Master Plan <br />The Parks and Recreation Master Plan indicates adding or protecting <br />prairie bluff lands that offer river views, as the opportunity arises in <br />this area. <br /> <br />Park Dedication - Cash <br />The submitted drawings for the February 10, 2021, Parks and <br />Recreation meeting includes a total of 178 units. This would require <br />$871,673.12 in park dedication to be paid in two phases. This is <br />calculated with the high-density rate of $4,897.04/dwelling unit. <br />Credit will be given for the current commercial rate as park <br />dedication was paid for the existing commercial use in the past. <br /> <br />A similar project was reviewed by the Commission in the fall/winter <br />of 2018-19 and the Park and Recreation Commission recommended <br />an all-cash dedication as the land was not suitable or desired for park uses. <br /> <br />