08-22-85 Agenda & Packet - Laserfiche WebLink

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MEMO TO: Mounds 1&w Parks and Recreation Commission 1111 FROM: St '/ DATE: August 0 , 985 RE: Herbst Sub-division Attached is a copy of the sub-division request from Herbst and Sons to sub-divide their 22 acre parcel located southwest of the Perkins Restaurant on Highway 10 also including the Perkins Rest- aurant over to County Road H2. The major issue at hand is wheth- er or not the City would, under Chapter 42, take 10 percent cash or land dedication once the sub-division is approved. At this time , staff is in a fairly lengthly negotiation process with Herbst and Sons, as staff has not accepted their initial apprais- al for the property based at $10 , 000 an acre . We have proposed that Herbst and Sons negotiates with the City to establish a fair-market price for the property during the next two weeks. Should Herbst and Sons desire not to negotiate with the City, the City Council has authorized staff to proceed with a second appraisal for the property, at which time we would have the value • of the property mediated by a third source . At this time, the City Council is addressing the issue of estab- lishing a fair-market value for the property, but the Park Com- mission needs to resolve the issue whether or not to accept 10 percent cash or 10 percent land once the sub-division is approved. Based on the City' s Comprehensive Parks and Open Space Plan, staff would recommend that 10 percent cash in lieu of land be requested from the Herbst sub-division as there is no proposal for a trail easement or park area within the Herbst sub-division. The Edgewood Community Center directly abutts the Herbst property which serves the open space needs and active play needs for the neighborhood park in that respective area. RECOMMENDATION: To support the City Council ' s position of nego- tiating with Herbst and Sons to establish a fair-market value of the property in question, and furthermore to request 10 percent cash be accepted for the park dedication fee in lieu of land pri- or to the actual sub-division occurring. 41/1 BKA/sll