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04-01-2024 Park Board Packet
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04-01-2024 Park Board Packet
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3/27/2024 12:21:11 PM
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3/27/2024 12:19:58 PM
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Park Board
Park Bd Document Type
Park Board Packet
Meeting Date
04/01/2024
Park Bd Meeting Type
Regular
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Appendix D <br />Comparing Expenditures and Revenue <br />Costs for new development come from three different sources: parks, arterial trails, and the <br />recreation complex. These values have already been calculated in previous steps of this <br />analysis and divided into pre 2040 and post 2040. Additional infomration regarding these <br />calculations can be found in Appendices A and B. <br />Total revenue from park dedication is composed of residential and commercial/industrial units. <br />The minimum and mid (average) number units for residential and commercial are used to make <br />this calculation, each is multiplied by their current respective dedication fee and totaled. These <br />are summed to get a total revenue for minimum and average number of units pre and post <br />2040. <br />More information concerning how the number of residential units and resulting park dedication <br />revenue is found can be located in Appendix C. Data regarding commercial/industrial units is <br />based on Datafi data of undeveloped commercial/industrial property along 35E. 20% of this land <br />is removed from this value to account for arterial roads and wetlands. <br />Total revenue is subtracted from total cost in order to determine whether there would be a <br />surplus or deficit given the estimated costs and revenues. Total cost was also divided by the <br />number of residential units in order to quantify the park dedication fee for residential units <br />needed to cover all new development costs a part of the Parks, Greenways and Trails Plan. The <br />number of residential units are the minimum and mid amounts provide by WSB and described in <br />Appendix C. <br />DRAFT
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