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TO: <br />FROM: <br />DATE: <br />RE: <br />MEMORANDUM <br />Park & Recreation Commission <br />Jim Morelan, Parks & Recreation Director <br />May 31, 2007 <br />Park Dedication Fee Adjustment <br />As explained to you at our last Commission meeting, our residential park dedication fee is much <br />lower than our neighboring cities' fees and is in need of an increase. Enclosed is a copy of a <br />recent survey conducted by Hoisington Koegler Group, Inc. that shows how our current rate <br />compares with the other 55 cities that participated in the survey. This survey definitely shows <br />that an increase is warranted. Please note that the average fee for single family homes, as <br />reported in the survey, is almost $2,600 ($2,488 median). <br />After reviewing this information, it is staff's recommendation that we change our residential park <br />dedication fee as follows: <br />Current Fee <br />Proposed! Fee <br />Residential' <br />$625 /unit or 10% of land, <br />$312.50 /unit for multi - family <br />or 10% of land <br />$2,600 /unit or 10% of land, <br />$1,950 /unit for multi - family* <br />or 10% of land <br />Commercial:. <br />5 % of FMV or 10% of land <br />5% of FMV or 10% of land <br />*multi - family is defined as anything over 8 dwelling units. <br />An increase in the commercial rate is not warranted at this tune. We have calculated a couple of <br />recent commercial developments' park dedication fees using our current rate and they both <br />closely approximate to the new residential fee. <br />\KrisP \ Correspondence \Kris' 2007 \Park Dedication Fees.doc <br />7 <br />