04/21/2004 Council Packet - Laserfiche WebLink

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Jeff Smyser From: HawkLaw1@aol.com Sent: Monday, April 19, 2004 11:06 AM To: Jeff Smyser Subject: Century Farms North park Jeff: This is written in response to your request for further clarification on my opinion that the developer has satisfied the park dedication requirements for the plat of Century Farm North. Century Farm North is a plat which consists of 95.12 acres. There are 9.84 acres of wetland which leaves a net of 85.27 acres subject to park land dedication under our ordinance. Furthermore, a part of this plat was previously platted as Sunset Oaks Addition. 14 Tots in Sunset Oaks Addition are included at 10,800 sq. ft. per lot equaling 151,200 sq. ft. (3.47 acres). The developer was required at that time to make a park land dedication of 10% so the total area subject to dedication must be reduced by this 3.47 acres since the city cannot charge park fees twice on the same property. Therefore the total land area subject to dedication is 81.80 acres. The number of new units in this development is 249. The residential unit cash park charge is $1,665.00. This was based upon a Comprehensive Park needs analysis performed by Al Brixius. This equals a total cash payment, if cash only was required, of $414,585. In this plat, however, land is being dedicated. A total of 8.12 acres is included as park land in Century Farm North. Our ordinance provides that we are to value the land dedication based upon a formula set out in the ordinance. The formula is the total land dedication times the land value. Previously, the City Council adopted a resolution establishing land value of $28,000, however, it is our opinion that number is not reasonable in view of recent comparable sales which indicates the value should be nearly double that amount for buildable residential property in Lino Lakes. Mr. Uhde has indicated he feels the and has a value of at least $50,000 per acre. If we apply this value times the land that is being dedicated we arrive at a total cash land value for land dedicated of $406,000. Mr. Uhde is also contributing $70,000 of trail construction within the development which will be a part of the City's park system. I believe it is reasonable to give him credit for this as a cash contribution. Based upon this information, I came to the conclusion that Mr. Uhde was more than fully satisfying his park dedication requirements and that the combination of land and park trail construction were satisfactory. See the following table: 249 units X $1,665.00 = $414,585.00 Credits 8.12 acres X $50,000.00 = $406,000.00 Trail Construction $ 70,000.00 Total $476,000.00 If you have any further questions, please contact me. Bill 4/19/04