05/29/2001 Council Packet - Laserfiche WebLink

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• • • MAY -24 -2001 11:14 NRC SECOND PARK DEDICATION FEE ALTERNATIVE b1� 5y5 'Jd.5( An alternative to the calculation in the May 22, 2001 report for commercial /industrial park land dedication is as follows. The May 22, 2001 report utilized the existing subdivision park dedication amount of $200 per 1,000 square feet of commercial and industrial floor space. This provided a conservative estimate of park land dedication. The current Subdivision Ordinance, however, offers two levels of park land dedication ($200 per 1,000 square feet of manufacturing and $133 per 1,000 square feet of warehousing). See pages 172 and 173 of the Subdivision Ordinance. The City Council may wish to take the average of these figures which would be $166.50 per 1,000 square feet of floor area. This average charge per 1,000 square feet of floor area translates into the following per acre park dedication charge: 1 acre (43,560 square feet) X 30% building coverage = 13,068 square feet 1,000 (current square foot standard) = 13.068 X $166.50 (average park dedication charge) = $2,175 per acre. If the City Council reduces the commercial /industrial park land fee from $2,614 to $2,175, it can anticipate $2,827,500 will be generated. This dedication would reduce the burden on residential property, as shown below: Total Park and Trail System Costs $22,965,399 50% of the Total System Costs to be Paid by Existing Development $11,482,700 50% of the Total System Costs to be Paid by Future Development $11,482,700 Commercial /Industrial Portion $ 2,827,500 Residential Portion $ 8,655,200 Park Cost Per Residential Unit Based Upon Total Projected Park System Cost (at full development) Total Lino Lakes Persons Saturation Per Population Household 30,000 T 2.7 = 11,111 Total Households /Buildout - 5,255 - Existing Households 2 5,856 Future Households