09/05/1991 Park Board Packet - Laserfiche WebLink

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MEMORANDUM TO: All Park Board Members FROM: Marty Asleson DATE: August 29, 1991 SUBJECT: Park Dedication Formula As you may recall at the February 4, 1991 Park Board meeting, we held a special work session with the Design Review Board regarding the adoption of a new park dedication formula. The proposed formula multiplied land cost by a density factor and again by the total acreage, and then divided this number by the number of lots to give a cost per lot figure. (Land Cost) (Density Factor) (Total Acreage) = Dollars/Lot (Number of Lots) The land cost was defined as an average of $10, 000.00 per acre. The argument was that the formula favored developments with higher densities, (ie) developments with lower densities would pay higher rates. Thus and R-1X development would pay more if the Park Board were to ask for cash than R-1 subdivisions. Two ways of looking at this inequality were presented to the Design Review Board. First, it was argued that bigger lots are, more valuable and a higher dedication would fair. These areas, it could be argued, cover greater land area so that they should pay more. The other argument that was used was that residential areas with greater densities need more park facilities because each lot is smaller. Thus the cash dedication should be greater (ie) higher density/more need. It was further shown that using the draft formula, a residential development with a density of 25 homes per acre (average) would pay $400.00 per lot (the current rate), developments with a density greater than 25 homes per acre would pay less than $400.00, and a development with less than 25 homes would pay more than $400.00.