03/05/2001 Park Board Packet - Laserfiche WebLink

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• • be about 2 /3rds developed by the year 2020. The ultimate park and trail system will not be completed by the year 2020, based upon current population and household projections. Based upon the analysis presented herein, the best estimate of park impact per residential unit is $1,956 dollars (11,454,700 [50% park costs] : 5,856 future housing units = $1,956), to pay for the completion of the balance of the Lino Lakes park and trail system. The per unit charge has been determined based upon an analysis of current land values in the City (raw land and platted lot sales were included in the review), park facility and trail costs (in 2001 dollars). RECOMMENDATION 1. To maximize the value of cash dedications it is recommended that the City update its Subdivision Ordinance to incorporate the Minnesota Statute language specifying that land value (for the purpose of calculating park dedication) will be determined based upon the value of the land at the time of final plat. The following language is suggested: Park cash contributions are to be calculated and established at the time of final plat approval. The City Council may require the payment at the time of final plat approval or at a later time under terms agreed upon in the development agreement. Delayed payment may include interest at a rate set by the City. 2. The park impact for new developments, based upon the analysis provided herein, approximates $1,956 dollars per residential unit. The City should amend its Subdivision Ordinance and fee schedule to incorporate the $1,956 per residential unit charge and discontinue the practice of utilizing raw land value to determine park dedication. A periodic review of land values and facility costs should be done to ensure that the park impact fee remains current based upon market conditions. 3. The Subdivision Ordinance should be amended to provide an alternative to the developer to conduct an individualized study for the subdivision to determine park impact, should there be a question as to the applicability of the $1,956 per residential unit fee. The following language is suggested: If the applicant or developer does not believe that the estimates contained in the City fee schedule (pursuant to this park dedication analysis) fairly and accurately represent the effect of the subdivision on the park or trail system of the City, the applicant or developer may request that the City prepare an in -depth study of the effect of the subdivision on the park and trail system an estimate of that effect in money and /or land. All costs of such study shall be borne by the developer or applicant. If the developer or applicant requests the preparation of such a study, no application for development submitted shall be deemed complete until the study has been completed and a determination is made as to the appropriate amount of land or money necessary to offset the effects of the subdivision. 13 of 14