05/14/2001 Council Packet - Laserfiche WebLink

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Ordinance 01 -06, Park Dedication page 2 The study determined that when the City chooses a cash dedication rather than land, $1960 per lot is reasonable. This amount will be included in the City fee schedule rather than in the City Code in order to make it easier to change in the future. The fee schedule will list residential park dedication as 10% of non - wetland area or $1960 per lot or a combination, as determined by the City. When it will be a combination, we will start with the land, since land should be acquired when possible. But if we don't want the full 10% in land, we can apply the project's net density to the remaining dedication need to get the cash value. For example, a 40 -acre subdivision with two acres of wetland gives us 38 acres of upland. Ten percent is 3.8 acres. If the City only needs two acres to add onto an adjacent park, that leaves 1.8 acres of unmet dedication. If the proposed project's net density is 2.1 units per acre, that would calculate out to 2.1 x 1.8 acres = 3.78 "lots ". We would multiply the 3.78 x $1960 = $7408.80. Therefore, the City would get two acres of land and $7409 in cash. Commercial /industrial park dedication listed in the fee schedule will remain what it is in the current ordinance. An ordinance requires two readings, publication, and a 30 -day waiting period before it becomes effective. Staff will prepare the appropriate change to the fee schedule to have it ready for adoption when the new ordinance becomes effective. As stated in an earlier memo, the anticipated schedule is: May 14 City Council Mtg. public hearing and first reading of the ordinance May 29 City Council Mtg. second reading of ordinance June 5 ordinance published in newspaper July 5 ordinance becomes effective (30 days after publication) OPTIONS 1. Approve first reading of Ordinance 01 -06. 2. Return to staff with direction. RECOMMENDATION Option 1