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-3 - <br />Preserve on Sunset Lake <br />October 17, 2018 <br />5.PARK DEDICATION: <br />The park dedication section of the City Code requires the applicant dedicate 10% of the <br />developable acres for park land with a density of up to 3.99 units per acre. The current <br />park dedication fee is $2,400 per unit. The developer is required to dedicate 11.4 acres or <br />pay a fee of $31,200. <br />The developer is proposing to dedicate Outlot B totaling .93 acres. This satisfies 8% of <br />the requirement and therefore the remaining requirement would normally be satisfied by <br />paying a fee which would be $28,704. However, the applicant is requesting that the park <br />dedication fee be waived due to the high cost of the lake front property. <br />Park <br />Dedication <br />Calculations <br />Required Proposed <br />Land 10 % <br />of the 114.85 developable acres 11.4 acres .93 acres 8% <br />OR AND <br />Fee $2,400 per unit <br />for 13 proposed units $31,200 $28,704* 92% <br />*The developer is requesting the park dedication fee be waived. <br />6.STAFF RECOMMENDATION: <br />Staff recommends that the Parks Commission approve park dedication for The Preserve <br />on Sunset Lake to include dedication of the .93 acre Outlot B and payment of $28,704 in <br />fees. <br />ATTACHMENTS: <br />1. The Preserve on Sunset Lake Preliminary Plat received September 7, 2018 <br />2. Open Space Exhibit received September 7, 2018 <br />3.Applicant’s Narrative received September 7, 2018 <br />4. Park Dedication Policy <br />5.Greenway Corridor Map <br />6. Neighborhood Park Service Area Map <br />7.Trail Plan