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<br />Request for Action <br /> <br /> <br /> <br /> <br />To Item Number <br />Mayor and City Council 4.1 <br />Agenda Section Meeting Date Prepared by <br />Consent May 18, 2020 Zack Carlton, Planning Manager <br />Item Description Reviewed by <br />Award Professional Services Contract: Residential Cal Portner, City Administrator <br />Property Valuation Study for Park Dedication <br />Reviewed by <br />Update <br /> <br /> <br />Action Requested <br />Approve, by motion, a Professional Services Contract with Patchin Messner Valuation Counselors to <br />complete a residential land valuation study. <br /> <br />Background/Discussion <br />Staff prepared an RFP to solicit bids for an update to the land valuations used to calculate the city’s Park <br />Dedication Fee. The city received one proposal from Patchin Messner Valuation Counselors, which is the <br />same group that completed the study in 2016. <br /> <br />The land valuation study will further divide the high-density housing classification into three project types <br />and adjust the park dedication fee for the smaller apartment projects that Elk River typically receives. <br /> <br />The consultant expects the complete the study by June 24, 2020. Staff will present recommended changes <br />to the park dedication fee during a July Council meeting. <br /> <br />Financial Impact <br />The proposal is $6,500 and can be paid for using Park Dedication Funds. <br /> <br />Attachments <br /> RFP Response <br /> Standard Agreement for Professional Services <br /> <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 <br />