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The Elk River Vision <br />A welcoming community with revolutionary and spirited resourcefulness, exceptional service, and community <br />engagement that encourages and inspires prosperity <br /> <br /> <br />Request for Action <br /> <br />To <br />Parks and Recreation Commission <br />Item Number <br />7.4 <br /> <br />Meeting Date <br />March 12, 2025 <br />Prepared By <br />Jeff Shelby, Recreation Manager <br /> <br />Item Description <br />Oakwater Ridge/Specht Farm - Park Dedication <br />Reviewed by <br />Jeff Shelby <br />Joe Stremcha <br /> <br />Action Requested <br />Recommend, by motion, park dedication for the Oakwater Ridge (previously referred to as the Specht Family <br />Farm) development be paid in cash, land, or a combination thereof, at the applicable rate at the time of <br />recording. <br /> <br />Recommend, by motion, a trail be installed by the developer with trail access easements across any land not <br />located on public property. <br /> <br /> <br />Background/Discussion <br />At the February Parks and Recreation Commission Meeting, the commission made two recommendations <br />regarding park dedication for this property: <br /> <br />1. For the trail to be installed by the developer with trail access easements across any land not located on <br />public property and that it is in the alignment showing in the presentation exhibit. <br /> <br />2. That the required 20% of park dedication be reduced to 15% which is 32 acres allocating 8 acres for upland <br />overlook park, 8 acres above the 10-year flood line and the other 16 acres paid in cash which would be 50% <br />in land and 50% in cash with the cash to be used for projects specifically within this development. <br /> <br />The developer of the property, Capstone Homes, met with City Council on February 18th and March 3rd to <br />discuss their plans. City Council seeks additional feedback from the Parks and Recreation Commission based <br />on those discussions and staff will provide an update for the commission to revise their recommendation <br />should they so choose. <br /> <br />Financial Impact <br />None <br /> <br />Mission/Policy/Goal <br />Responsible for every dollar - good stewards. Support the growth and development of the community. <br />Opportunity to live, work, and play. <br />Page 24 of 35