12-17-2002 PTRC Agenda - Laserfiche WebLink

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1 Page 3 of 4 • October 16, 2002 Guidant Update In staff discussions with Guidant, it was determined that Guidant would make a proposal on how they intend to satisfy the park dedication requirement. In advance of Guidant's proposal, staff suggested the following options: • Cash dedication. The park dedication requirement can be satisfied by paying an amount in cash equal to the percentage of the land required to be dedicated, multiplied by the fair market value of the property. The County's assessed market value on the land for Guidant's property is approximately$7,703,800. At 10% this translates into $770,380, and at 5%this translates into $385,190. Of course,our ordinance requires that sales data or an appraisal be utilized. • Dedication of an easement for the existing City trail that encroaches on Guidant property. This is currently a condition of approval for the preliminary plat. • Cummings Park Improvements. To make the fee more acceptable to Guidant, it was suggested that improvements proximate to the campus be considered. Based on the recent completed park building design process,a new park building has been identified by the PTRC as a top priority for Cummings Park. However, this has not been discussed by the City Council. A combination warming house/activity center/open pavilion is estimated to cost approximately$350,000. A rendering and construction estimate is attached for your review and consideration. • Trail on County Road F and Hamline. A trail along County Road F connecting to the trail along Hamline Avenue is identified in both the Comprehensive Plan and the Parks,Trails, and Open Space Plan. This would complete a loop trail in the area around Cummings Park, Lexington Avenue, and Hamline Avenue. Completing the loop is estimated to cost approximately$70,000. However, there are wetland and right-of-way issues that need to be addressed as well. • Campus Trail System. Guidant could make the trail system proposed for their campus available to the public. Given the evolving nature of the campus, it is uncertain when all of the trail improvements would be made. In response to staff input, Guidant is proposing to address the park dedication requirement in the following manner: 1. Provide an easement for the existing City trail that crosses onto the Guidant Campus. 2. Provide public access to the trail system being developed within the Guidant Campus. 3. Contribute $350,000 toward the construction of a combination warming house / activity center/picnic pavilion. See the attached letter dated October 14, 2002 from Guidant CEO Fred McCoy to Mayor Dennis . Probst for additional information on Guidant's park dedication proposal. If the Council is