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4. PARK DEDICATION CALCULATIONS: <br />In order to develop a system of parks within the community to serve the public's health <br />and recreational needs, a fee or land shall be dedicated to the city when land is <br />subdivided for residential purposes. Recommendations shall be made by the Parks <br />Commission in accordance with the Parks, Trails, and Open Space Plan. Dedication is <br />subject to approval by the City Council. <br />Land Dedication Option <br />The City finds that the more dense a development is, the more demand for park land it <br />creates since lots can be smaller affording less private recreational space and more <br />occupants per acre. Fable Hill Fourth Addition is proposed to include 60 homes on 25.3 <br />buildable acres at a density of 2.37 units per acre. Therefore, the applicant would be <br />required to dedicate 10% of the total buildable acreage or 2.53 acres of land. <br />Fee Dedication Option <br />At the City Council's discretion, a fee may be accepted or required. The City Council <br />annually sets the park dedication fee which is currently $2,400 per unit. The applicant <br />would be required to dedicate $144,000 for the 60 homes. The applicant shall pay the fee <br />that is in effect at the time of final plat. <br />5. PARK DEDICATION PROPOSAL: <br />First Phase: Park Improvements <br />The applicant is proposing to build 26 homes with the first phase. With the first phase, <br />the applicant is proposing to build and pay for improvements to the park. They are <br />estimating that the cost of the park improvements will be $77,472 which is approximately <br />$15,000 more than the required park dedication fee of $62,400 for the 26 homes of the <br />first phase. They are proposing that the improvements be installed at the same time as <br />the roadways and utilities of the first phase. Their plan includes the City's standard <br />hexagonal shelter, four picnic tables, and two benches. The developer is proposing to <br />install irrigation, plant trees, and plant grass. The open space shown in the concept plan <br />could be the location of future play equipment. <br />Future Phases: Pay fee <br />The applicant will pay a fee with future phases and the remaining 34 lots. The applicant <br />shall pay the fee that is in effect at the time of final plat. At the current fee of $2,400, the <br />park dedication for the remaining lots would be $81,600. <br />-3- <br />Fable Hill Fourth Addition <br />May 13, 2015 <br />