CCP 10-30-1995 - Laserfiche WebLink

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I CITY OF ARDEN HILLS I . MEMORANDUM I DATE: October 26, 1995 - I TO: Brian Fritsinger, City Administrator C5~ FROM: Cindy S. Walsh, Parks & Recreation Director I SUBJECT: Park Dedicationfor Townhomes of Lake Valentine I The Park Dedication fee has been calculated in accordance to Section 22-9, Public Use Dedication of the City Code. I Park Dedication Fee ReQuired The park dedication fee required from the Townhomes of Lake Valentine, Planning Case #95-5, I has been adjusted due to the decrease_in number of units from 16 to 12. The previously proposed development included 16 units, which was between two and three gross density in dwelling units per acre. The dedication was then based on 7% of the purchase price of the property and I calculation to be $9,348.00. Since the development project has been downsized to 12 units, the gross density in dwelling units per. aCre is between zero and two. Thus, the percentage dedication .~ . will be 6% of the purchase price of the property, which is calculated to be $8,012.52. I If the City Council does riot feel that the purchase price accurately reflects the market value of the property, they do have the option of having the property appraised. City Attorney, Jerry Filla, I reviewed the purchase agreement and concluded that the price reflected in the purchase agreement is justifiable for the undeveloped land value. I Tne cost for an appraisal can range from $800.00 - $3,000,00 based on the City's experience with past appraisals_ A number of individuals have expressed concern that an appraisal has not been I completed on the property. The ordinance states that an appraisal can be completed at the developers cost. The City has had a history of using purchase agreements to establish value. - Staff would be concerned that any increase in value due to an appraisal will be minimal and will - I not necessarily justify the additional cost associated with an appraisal. The staff's primary concern with having the land appraised is that if the land is appraised for less than the purchase price, then the City may be bound to the appraised value. I Recommendation Staff continues to recommend the park dedication requirement from the Townhomes of Lake I Valentine be cash in lieu ofland, $8012.52, based on the purchase price of the land. This is subject to the approval of the final plat. Staff also recommends that this be paid in a lump sum before any building permits are issued. I cc: Kevin Ringwald, Community Development Director . I CS\V\jt - I