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DATE: AUGUST 29, 1990 <br /> TO: DON VOLK <br /> FROM: MARTY ASLESON <br /> RE: NEW PARK LAND DEDICATION METHODOLOGY <br /> There has been discussion at previous Park Board meetings to <br /> investigate the possibilities of changing the park money <br /> dedication amount. <br /> Laura Elken surveyed several communities and it appears that <br /> we are not to far off -- if we consider the cost of "Raw <br /> Land" . "Raw Land" can be purchased now for between $6,000 <br /> and $10,000 per acre - fair market land value. We met some <br /> time ago and came up with the following method to be <br /> considered. Take the number of acres at same fair market <br /> value (raw land cost) X (X) dollars per house = cost of the <br /> raw land or the high range of raw land. <br /> EXAMPLE: Willow Ponds <br /> Willow Ponds has 27 lots on 13 acres. The dedication is 1.3 <br /> acres of land, or at the high range of land costs of $10,000 <br /> per acre - take 27 lots X (X) $/lot = $13,000 <br /> $13,000 divided by 27 lots/acre = $481.48/lot <br /> This is using the 0 - 3 units/acre/10% category of our <br /> dedication policy. That is the figure that we would need per <br /> lot to acquire comparable land to be used for parks. <br />