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Mermaid Preliminary Plat Report <br />August 27, 2001 <br />Page 2 <br /> <br />of the Mermaid property and also dedicates a 35-foot wide easement area for <br />utilities along the southwestern shared property line between the Mermaid and <br />business park property. <br /> <br /> <br />Park Dedication Requirement: <br /> <br />Chapter 1204 of the Mounds View Municipal Code requires that all major subdivisions <br />and plats pay a park dedication fee. For developments encompassing more than one <br />acre of land, the fee amounts to ten percent of the associated land value. The table <br />below lists the land values associated with the Mermaid project and the amount of the <br />park dedication required for this project: <br /> <br />Mermaid Park Dedication Fee <br />SITE PIN MV Land*Area (SF)$ PSF <br />Music Off 10:083023430005 26,100$ 17,753 1.47$ <br />Halls:083023430006 261,600$ 82,842 3.16$ <br />083023430007 370,500$ 168,555 2.20$ <br />083023430008 68,000$ 40,521 1.68$ <br />Rent All 083023430009 79,300$ 41,854 1.89$ <br />Holding Pond Part of 083023430021 117,557$ 57,910 2.03$ <br />TOTAL:923,057$ 409,435 2.25$ <br />Park Dedication Fee:92,306$ <br />*Based on Market Value For Property Taxes Payable 2001 <br />The Mermaid has already submitted the park dedication fee for this plat. <br /> <br /> <br />Easements: <br /> <br />All of the necessary easements are indicated on this plat. The ten-foot drainage and <br />utility easements along County Road H and County Highway 10 will be changed to five <br />feet to coincide with the approved parking lot setbacks for the development. <br /> <br /> <br />Planning Commission Action: <br /> <br />On August 1, 2001, the Planning Commission unanimously approved Resolution 669-01, <br />a resolution which recommends to the City Council approval of the Mermaid Addition <br />preliminary plat. <br />