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density of 9 or more units would need an 18 park land dedication. <br /> Accordingly, the acreage total or cash dedication would be for 4.30 <br /> acres. The remaining portion of the 4.3 acres or .50 acres would <br /> be based on fair market value of the raw land purchase. I have <br /> enclosed a copy of the purchase agreement with this agenda item. <br /> At the $16,500 minimum per acre purchase price, the park cash <br /> dedication would be approximately $1485. The dedication for the <br /> commercial 1.6 acres of land would be at a later date and subject <br /> to the commercial park land dedication requirements as per our <br /> ordinance. <br /> OPTIONS <br /> 1. Accept the proposal as presented <br /> 2. Refer back to staff for further review <br /> RECOMMENDATION <br /> Option 1. <br />