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7.2 PRSR 05-12-2021
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7.2 PRSR 05-12-2021
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5/12/2021
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<br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br />service, and community engagement that encourages and inspires prosperity. Updated: August 2020 <br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To <br />Parks and Recreation Commission <br />Item Number <br />7.2 <br />Agenda Section <br />Action Item <br />Meeting Date <br />May 12, 2021 <br />Prepared by <br />Michael Hecker, Parks and Recreation Director <br />Item Description <br />Park Dedication –Broadway on 10 <br />Reviewed by <br /> <br />Reviewed by <br /> <br /> <br />Action Requested <br />Recommend, by motion, park dedication for Broadway on 10 be paid, at the applicable rate, for the final number <br />of dwelling unit when the lots are released for recording. <br /> <br />Background/Discussion <br />The subject property is comprised of two parcels for a total of 11.51 <br />acres in size, zoned Planned Unit Development (PUD) and located <br />west of the Business Center Drive and Yankton Street intersection. <br /> <br />The project includes an 88-unit apartment building and 24 multi-family <br />lots (townhomes) along a private street. All lots are eligible for park <br />dedication as the parcel is currently platted as an outlot. <br /> <br />Park dedication is outlined in the city’s fee schedule and the project <br />breakdown for cash dedication is shown in the table below. <br /> <br />Broadway on 10 <br />Unit Type # Unit Rate Park Dedication Due <br /> Apartment 88 $ 4,897.04 $ 430,939.52 <br /> Townhomes 24 $ 1,075.79 $ 25,818.96 <br /> Total Cash Dedication $ 456,758.48 <br /> <br />Parks and Recreation Trail Master Plan <br />The trails master plan indicates a sidewalk on Yankton Street from <br />West Oaks Park to the site allowing a pedestrian connection. <br /> <br />Financial Impact <br />None <br /> <br />Mission/Policy/Goal <br /> Opportunity to live, work, and play
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