12/06/1993 Park Board Packet - Laserfiche WebLink

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AGENDA ITM 06B STAFF ORIGINATOR Marty Asleson DATE November 29, 1903 TOPIC Willow Ponds Development Proposal This subdivision is a re-plat of what was formerly known as The Cottages. This parcel was last looked at at the June 1992 Park Hoard meeting. As per the enclosed proposal, the subdivision is 13.59 acres total. It is zoned R-1 and has a housing density of 2.19 units/acre. There are 27 lots proposed for the subdivision. It is bounded by I35 W to the north," St. Joseph Catholic Church to the east and Sunset Ave to the west'. With respect to our Comprehensive Park Plan and Development Guide, there is no required land dedication ,needed. for this .parcel. Thus the park dollar dedication is based on the dedication formula considering fair market value, acreage and housing density. The trail dedication requirements according to the Comprehensive Plan, indicates a need for a bike route along 1.3 miles of Elm Street. This is trail segment no. 20, is designated on the south side of Elm street and also runs the 1.3 miles of Elm St. This trail is intended to be located in the road right-of-way. Looking at the subdivision site-specifically, with three cut-de-sacs emptying on to Elm street, it is important to consider the transportation needs of the residents within the subdivision and between the cul-de-sacs, as well as tying into the future transportation trail on the south side of the road in an organized fashion (ie. crossing to the transportation trail, and to the trail access toSunrise Park.:) Please refer to page 6-19 of the Comprehensive Plan. The estimated fair market value of this `should be based on the current price of acquiring a similar piece of land in the subdivision area. The estimated fair market value according to the Anoka county Assessor is approximately $6034/acre. The assessor admitted that this is` a very deflated value based on old sales in the area, and that his perception of the current price of land is substantially higher and that they would need to re-assess the property values in the City. Parcels of land in this. area of the City seem to be much lower, particularly along the Interstate Highway Corridor. For instance, the parcel of land in the Fox Trace Development sold for $13,635/acre. Usir4 the $10,000 minimum figure as cited in our dedication ordnance the dedication would be: 910.000/acre x 13.,59 ggree x .10 27 lots $503/per lot C& $13,590 per development Milli] 1. Accept this proposal with the $10,000 minimum land value for acreage base price market value. i 2. Disapprove the proposal d '................. option 11 - accept this proposal at the $.10,000 minimum market: value for acreage.