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Page 3 <br />MethodPros <br />Coils <br />Allow developer <br />Allow developer to select <br />■ Provides more legal <br />■ Will end up with lowest <br />to select from <br />whether they want to use the <br />protection as <br />amount of park dedication <br />options <br />park dedication fee or submit <br />developers have <br />possible. Impact depends on <br />an appraisal <br />opportunity to select <br />options provide. <br />preferred option <br />Require "higher" <br />List multiple options and <br />■ Best potential to <br />■ Potential for legal challenge <br />of multiple <br />require the one with the <br />maximize park <br />remains if options are not <br />options <br />highest park dedication <br />dedication with the <br />based on market realities <br />amount be selected <br />least amount of <br />■ Adds time and cost to <br />effort by City <br />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 is 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 far 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 />