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<br /> <br />City of Elk River <br />REQUEST FOR COUNCIL ACTION <br />Agenda Section Meeting Date <br />Administration 16, 2007 <br />Item Description <br />2007 Parks Dedication Bud et <br /> <br />Item Number <br />6.2. <br />Prepared by <br />Bill Maertz, Parks and Recreation Director <br />Reviewed by <br />Lori ohnson, Ci Administrator <br /> <br />Introduction <br />In December 2006, the Park and Recreation Commission reviewed potential projects and acquisitions. <br />The Park and Recreation Commission voted to recommend the following items for the 2007 park <br />dedication budget: <br />· Purchase 18 acres of the Malmstrom property on CR 77 <br />· Purchase 7.8 acres of Elk River Country Club property adjacent to the Great Northern Trail <br /> <br />Discussion <br />The Malmstrom property has been a highly ranked park target since the fIrst park system master plan was <br />completed. <br />1. Potential for centrally located, active recreation facilities. <br />2. Creates east entrance to Woodland Trails Park for neighborhoods south and east of Woodland <br />Trails Park. <br />3. Will serve as a buffer zone between the Ridgewood neighborhood and future land uses to the <br />north. <br />Golf Course Property - The Park Commission and staff have held discussions with members of the Elk <br />River Country Club board regarding the purchase of wooded property adjacent to Woodland Trails Park <br />and The Great Northern Trail. At the December 2006 Park Commission meeting the Commission voted <br />to recommend the purchase of 7.8 acres as a buffer along the trail in case the Country Club sells the <br />wooded property to a developer. This would align with the buffer obtained from the Woodland Hills <br />subdivision. <br /> <br />Due to the limited amount of funds available in 2007 staff recommends that only the Malmstrom <br />property be purchased at this time. Income from park dedication fees is projected to be gready reduced in <br />2007. <br /> <br />This the fIrst time the Malmstrom property has been for sale. The family has indicated that they would <br />like to see it as a park but that they do have an alternative buyer. Staff believes that of the two properties <br />the timing on the Malmstrom property is the more critical. <br /> <br />Financial Impact <br />Appraised value of the 18 acre Malmstrom property was $27,500 per acre, for a total of $495,000. Factors <br />influencing the value of this property include the mineral resources beneath it and the access to CR 77. <br />Malmstroms have indicated that they would be willing to receive three installments of $165,000 over the <br />next three years. <br /> <br />C: \Documents and Settings \ tallard\Local Settings \ Temporary Internet Files \ OLKF\Request Council Action 6 l.doc <br />