Laserfiche WebLink
Current Park Dedication Rates <br />Low Density 0.0846 x $ 16,855.00 = $ 1,425.93 cash dedication per residential unit <br />Med. Density 0.054 x $ 19,922.00 = $ 1,075.79 cash dedication per residential unit <br />High Density 0.0474 x $ 103,313.00 = $ 4,897.04 cash dedication per residential unit <br />2020 Park Dedication Calculations <br />Assumptions <br />2.82, 1.80, and 1.58 Average Household size for City of Elk River <br />0.03 Acres of park land per residentd as identified by the Parks <br />and Rec Master Plan <br />$ 41,164.00 Mean per acre value of low density residential land <br />$ 64,750.00 Mean per acre value of medium density residential land <br />$ 156,640.00 Mean per acre value of high density residential land <br />Land dedication requirement <br />Class HH Size Park/Res. Land Dedication Requirement <br />Low Density 2.82 x 0.03 = 0.0846 <br />acres of land per residential unit <br />Med. Density 1.8 x 0.03 = 0.054 <br />acres of land per residential unit <br />High Density 1.58 x 0.03 = 0.0474 <br />acres of land per residential unit <br />Cash Dedication required <br />Class Land Req Land Value Cash Dedication Requirement <br />Low Density 0.0846 x $ 41,164.00 = $ 3,482.47 <br />cash dedication per residential unit <br />Med. Density 0.054 x $ 64,750.00 = $ 3,496.50 <br />cash dedication per residential unit <br />High Density 0.0474 x $ 111,557.00 = $ 5,287.80 <br />cash dedication per residential unit <br />2024 Park Dedication Calculations <br />Assumptions <br />2.82, 1.80, and 1.58 Average Household size for City of Elk River <br />0.03 Acres of park land per residentd as identified by the Parks and Rec Master Plan <br />$ 41,164.00 Mean per acre value of low density residential land <br />$ 64,750.00 Mean per acre value of medium density residential land <br />$ 156,640.00 Mean per acre value of high density residential land <br />Land dedication requirement <br />Class HH Size Park/Res. Land Dedication Requirement <br />Low Density 2.82 x 0.03 = 0.0846 acres of land per residential unit <br />Med. Density 1.8 x 0.03 = 0.054 acres of land per residential unit <br />High Density 1.58 x 0.03 = 0.0474 acres of land per residential unit <br />Cash Dedication required Projections Only <br />Class Land Req <br />Land Value Cash Dedication Requirement <br />Low Density 0.0846 x <br />$ 56,806.32 = $ 4,805.81 <br />cash dedication per residential unit <br />Med. Density 0.054 x <br />$ 89,355.00 = $ 4,825.17 <br />cash dedication per residential unit <br />High Density 0.0474 x <br />$ 216,163.20 = $ 10,246.14 <br />cash dedication per residential unit <br />