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<br />
<br />
<br />Jill Hutmacher
<br />Park Dedication Fees
<br />November 12, 2015
<br />Page 3
<br />
<br />As noted in the table below, under Scenario 1 the City would have more land dedicated for
<br />parks than they require (park land dedication would be met by residential). Commercial
<br />land dedication doesn’t work since there are no sizable parks noted within these areas on
<br />the Master Plan and lack of land dedication fees paid by the commercial places an undue
<br />financial burden on the residential development.
<br />
<br />Area Per Land Value Value Per Acre Value Per Sq/Ft Total Land Value
<br />Total Land
<br />Dedication
<br />Fee
<br /># Of Units Per Unit Fee
<br />Total Park
<br />Development
<br />Fee
<br />TOTAL PARK
<br />DEDICATION
<br />FEES
<br />Total Acres
<br />Dedicated
<br />NB1 0%135,000$ 3.10$ 1,552,500$ -$ 29 123,434$ 123,434$ 1.15
<br />NB2 0%140,000$ 3.21$ 7,462,000$ -$ 213 915,346$ 915,346$ 8.00
<br />NB3 0%150,000$ 3.44$ 5,370,000$ -$ 242 1,037,493$ 1,037,493$ 5.37
<br />NB4 0%170,000$ 3.90$ 2,737,000$ -$ 129 552,986$ 552,986$ 2.42
<br />NT 0%195,500$ 4.49$ 4,809,300$ -$ 369 1,584,253$ 1,584,253$ 4.92
<br />TC 0%265,000$ 6.08$ 2,650,000$ -$ 450 1,932,016$ 1,932,016$ 2.00
<br />TOTAL N/A N/A N/A 24,580,800$ -$ 1,431 4,293$ 6,145,530$ 6,145,530$ 23.85
<br />Area Per Land Value Value Per Acre Value Per Sq/Ft Total Land Value
<br />Total Land
<br />Dedication
<br />Fee
<br />Total Land Value Fee as % of
<br />Land Value
<br />Total Park
<br />Development
<br />Fee
<br />TOTAL PARK
<br />DEDICATION
<br />FEES
<br />Total Acres
<br />Dedicated
<br />Office 0%5%6.30$ 17,929,296$ -$ 17,929,296$ 896,465$ 896,465$ 3.27
<br />Retail 0%5%7.00$ 8,934,156$ -$ 8,934,156$ 446,708$ 446,708$ 1.47
<br />Flex 0%5%4.50$ 14,348,664$ -$ 14,348,664$ 717,433$ 717,433$ 3.66
<br />TOTAL N/A N/A N/A 41,212,116$ -$ 41,212,116$ 5%2,060,606$ 2,060,606$ 8.39
<br />GRAND TOTAL N/A 65,792,916$ -$ 8,206,135$ 8,206,135$ 32.24
<br />4,293$
<br />5%
<br />Scenario 1
<br />County or Developer Dedicates Land and Commercial/Industrial and Resdidential Pay Park Development Fee
<br />Land Dedication Fee Park Development Fee
<br />
<br />In addition, in order to receive $8.2 million in park development fees to pay for park
<br />improvements, the per unit fee paid by residential would be approximately $4,300. This is
<br />on the high end of fees (if not the highest) in the Metropolitan Area, thus possibly precluding
<br />or stunting residential development.
<br />
<br />Since the policy allows the City, at their discretion, to accept land dedication OR impose a
<br />land dedication fee, Scenario 2 better meets the City’s needs as noted below:
<br />
<br />Area Per Land Value Value Per Acre Value Per Sq/Ft Total Land Value
<br />Total Land
<br />Dedication
<br />Fee
<br /># Of Units Per Unit Fee
<br />Total Park
<br />Development
<br />Fee
<br />TOTAL PARK
<br />DEDICATION
<br />FEES
<br />Total Acres
<br />Dedicated
<br />NB1 0%135,000$ 3.10$ 1,552,500$ -$ 29 83,375$ 83,375$ 1.15
<br />NB2 0%140,000$ 3.21$ 7,462,000$ -$ 213 618,280$ 618,280$ 8.00
<br />NB3 0%150,000$ 3.44$ 5,370,000$ -$ 242 700,785$ 700,785$ 5.37
<br />NB4 0%170,000$ 3.90$ 2,737,000$ -$ 129 373,520$ 373,520$ 2.42
<br />NT 0%195,500$ 4.49$ 4,809,300$ -$ 369 1,070,100$ 1,070,100$ 4.92
<br />TC 0%265,000$ 6.08$ 2,650,000$ -$ 450 1,305,000$ 1,305,000$ 2.00
<br />TOTAL N/A N/A N/A 24,580,800$ -$ 1,431 2,900$ 4,151,060$ 4,151,060$ 23.85
<br />Area Per Land Value Value Per Acre Value Per Sq/Ft Total Land Value
<br />Total Land
<br />Dedication
<br />Fee
<br />Total Land Value Fee as % of
<br />Land Value
<br />Total Park
<br />Development
<br />Fee
<br />TOTAL PARK
<br />DEDICATION
<br />FEES
<br />Total Acres
<br />Dedicated
<br />Office 5%5%6.30$ 17,929,296$ 896,465$ 17,929,296$ 896,465$ 1,792,930$ 0.00
<br />Retail 5%5%7.00$ 8,934,156$ 446,708$ 8,934,156$ 446,708$ 893,416$ 0.00
<br />Flex 5%5%4.50$ 14,348,664$ 717,433$ 14,348,664$ 717,433$ 1,434,866$ 0.00
<br />TOTAL N/A N/A N/A 41,212,116$ 2,060,606$ 41,212,116$ 5%2,060,606$ 4,121,212$ 0.00
<br />GRAND TOTAL N/A 2,060,606$ 6,211,666$ 8,272,272$ 23.85
<br />2,900$
<br />5%
<br />Scenario 2
<br />County or Developer Dedicates Residential Land, Commercial/Industrial Pays Land Dedication Fee and All Development Pays Park Development Fee
<br />Land Dedication Fee Park Development Fee
<br />
<br />As noted, the 24 acres required for parks is donated and the per unit fee for residential goes
<br />down to $2,900. This would cover the current park development estimate, but m ay be
<br />inadequate to fund special place making elements and/or increased costs in park
<br />development (City receives required $8.2 million for park improvements).
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