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<br /> I <br /> I CITY OF ARDEN HILLS <br /> ~ MEMORANDUM <br /> I DATE: October 7, 1995 <br /> TO: Brian Fritsinger, City Administrator ~ <br /> I <br /> FROM: Cindy S. Walsh, Parks & Recreation Director CS <br /> I SUBJECT: Park Dedication for Ogren Townhouse Development <br /> Park dedication for the proposed townhouse development at the comer of County Road E2 and <br /> I Old Highway 10 was calculated in accordance to Section 22-9, Public Use Dedication of the City <br /> Code. <br /> I The proposed development includes 16 units, which is between two and three gross density in <br /> dwelling units per acre. Therefore, dedication is based on 7% of the purchase price of the <br /> I property. Cash in lieu of a land dedication is calculated to be $9,348.00. This cash can be paid <br /> in full or in installment payments if Council desired to do so. <br /> .. The dedication was based on the purchase price of the property. The purchase agreement was <br /> reviewed by the City Attorney. He feels that the price reflected in the purchase agreement is <br /> justifiable for undeveloped land value. The City Council does have the option of having the <br /> I property appraised. However, Attorney Filla and staff feel the purchase price is reflective of fair <br /> market values. <br /> I A copy of the Arden Hills Dedication Ordinance is attached. <br /> I Please feel free to contact me if you have any questions relating to park dedication prior to the <br /> October 10,1995, City Council meeting. <br /> I CSW\jt <br /> I <br /> I <br /> I <br /> t- <br /> I <br />