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stalls for every dwelling unit on site; however, since the rooms are not dwelling units,but rather, single occupancy units, it is realistic to assume that parking demand would be less. At this time the restaurant facility is not contemplated; however, when it is redeveloped the existing parking will need to accommodate that use as well. Without a proposal for the development of the restaurant facility, it is very difficult to determine what the total parking demand for Lot 1 will be. Parking will need to be evaluated at the time the restaurant facility is developed, and the entire site will need to offer adequate parking. Lot 2 will be evaluated at the time of the development proposal based on that specific use. 3. Signage The applicant has not submitted a signage plan for the property. 4. Park Dedication Park use dedications for recreation or conservation purposes would be required as part of an approval of this application, and would be determined by the City Council. According to the City's subdivision ordinance the property is subject to a park dedication requirement because of the platting of the parcel. Based on the Code, park dedication can be in the form of a percentage of land dedicated to the City, or as cash in lieu of a dedication. In the event of a cash dedication, the amount could be up to ten percent of the fair market value of the property. According to the Ramsey County Assessor, the property has an assessed value of $2.67 million. Based on the current assessed value of the property the park dedication could be up to $267,000. The final park dedication requirements will be determined by the City Council. According to State Statute, cash payments made to cities in lieu of park dedication can only be used towards the construction of new recreation facilities and cannot be used to maintain existing facilities. 4. Guiding Plan for the B-2 District The existing building on Lot 1 is presently situated in a way that conforms to many of the principles in the Guiding Plan for the B-2 District. The building is situated close to the street with nearly all of the parking located to the back of the building. The subdivision of the lot into two offers an opportunity to increase the intensity and mixture of uses on the site, which is a stated goal of the Guiding Plan, and decrease excess parking. The future development of City of Arden Hills Planning Commission Meeting for March 7, 2012 P:IPlanningWIanning Casesl2012ll2-002-Holiday Inn Plat and PUD(Pending)W-07-12-PC Report-1201 County Road E PUD.doex Page 8 of 13