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Also, the dedication for commercial and industrial developments was removed <br />from the draft Park Dedication Policy. Less than $10,000 has been received for <br />commercial or industrial park dedication since 1999 and about 50% of Park Dedication <br />Policies around the metro do not require it. <br />EDA RECOMMENDATION <br />The Economic Development Authority made a recommendation to the City Council to <br />remove the requirement for commercial and industrial park dedication. The EDA <br />recommendation will be presented along with a recommendation from the Parks <br />Commission. At their August 9, 2010 meeting the EDA stated the following reasons for <br />removing the requirement: <br />■ Businesses support the community through events <br />■ Industrial and Commercial Development brings additional revenue into the city <br />(increased property taxes) <br />■ Would give competitive advantage for businesses/ support economic <br />development in Hugo <br />■ Parks are important and attractive assets in a community <br />■ Demand for parkland and park improvements is generated by residents, not <br />businesses <br />ESTIMATED LAND USE AND FUTURE DEDICATION: <br />As directed, staff prepared estimates for future dedications. Using the 2030 Land Use <br />Map, which is a part of the city's Comprehensive Plan, the amount of commercial and <br />industrial development and residential development was found. Land Uses will change <br />in the next Comprehensive Plan update for 2040. <br />The majority of the city's commercial and industrial development will occur along <br />Frenchman Road/ County Rd 8. Another area of mixed-use (commercial and <br />residential) is planned at the intersection of Hwy 61 and 170th Street. Along 170th Street <br />towards Elmcrest Avenue, commercial development will likely occur also. <br />Park dedication has never been required in redevelopment of commercial or industrial <br />areas. <br />The Mixed Use Land Use category was not considered in these calculations as it will <br />likely be developed through a Planned Unit Development. Planned Unit Developments <br />typically have unique park dedications which are greater than required by the policy. <br />There are 645 developable acres that are guided as Commercial, Industrial or Business <br />Park. This is 5.4% of the total developable acres in the city. With the current Park <br />Dedication requirement of $2,400 per acre and assuming full development of all <br />developable acres and that no land dedication is accepted, approximately $1.5 million' <br />would be dedicated. <br />1 Calculations attached on Table l-1 <br />