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<br /> <br />Request for Action <br /> <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 11.2 <br />Agenda Section Meeting Date Prepared by <br />Work Session October 2, 2023 Zack Carlton, Community Development Director <br />Item Description Reviewed by <br />Park Dedication Fees Cal Portner, City Administrator <br />Reviewed by <br /> <br /> <br />Action Requested <br />Provide staff direction regarding updates to the city’s Park Dedication Fee. <br /> <br />Background/Discussion <br />In 2016, at the direction of legal counsel and in response to recent changes to state statute regarding park <br />dedication requirements, the City Council adopted an updated Park Dedication Ordinance and Fee. The fee is <br />based on several factors, including the Parks and Recreation Master Plan, housing density, and the market value of <br />undeveloped land. The market value can, and should, be updated periodically to adjust to the current market <br />demands and the economy. <br /> <br />The City Council reviewed an updated market study and a proposed fee schedule update in 2020 but did not <br />update the fee at that time. The proposed changes would have increased the park dedication fee for single-family <br />and townhome developments and reduced the fee for apartment projects. <br /> <br />We are reviewing changes to the 2024 fee schedule and would like direction from the Council regarding a possible <br />update to the Park Dedication Fee. Land values have increased significantly since 2020, and we would expect the <br />appraisal study and subsequent fee recommendations to follow that trend. The costs of park improvements and <br />development have increased, and the park dedication fee is one of the main revenue streams for those <br />improvements. <br /> <br />If the Council supports a fee schedule update, staff will solicit bids for a market study and bring a contract forward <br />for Council approval later this fall. <br /> <br />Financial Impact <br />An increase in the Park Dedication Fee will support continued growth and development of the city’s parks. <br /> <br />Mission/Policy/Goal <br />Provide high quality park and recreation amenities for residents. <br /> <br />Attachments <br /> None <br /> <br />The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional <br /> <br />service, and community engagement that encourages and inspires prosperity. <br />Updated: January 2023 <br /> <br />