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<br />I . <br />I CITY OF ARDEN HILLS <br />~ MEMORANDUM <br /> DATE: June 4, 1996 <br />I TO: Mayor ~nd City Council y.J <br />I FROM: Cindy S. Walsh, Parks and Recreation Director~ <br /> SUBJECT: Revised Park Dedication for Amble <br />I Back~Tound <br />I At the May 27, 1996, City Council meeting, the City Council directed staff to meet with Mr. <br /> Paul Amble to work out a compromise on the park dedication fee for Planning Case 96-0 I. The <br /> previous park dedication was calculated according to the fair market value of the property, which <br />I was determined by the appraisal price totalling $147,000 given to me by Mr. Amble. Based on <br /> this calculation, the park dedication fee for Lot I and 3 was $8,820. The Council was concerned <br /> that the appraisal price did not reflect the true undeveloped acquisition cost of the land and <br />I wanted staff to reevaluate this park dedication formula. <br /> Revised Park Dedication Calculation <br />Ie The revised park dedication fee is based on the value of the property as determined by the 1996 <br /> tax roles. This seemed fair to Mr. Ringwald and myself since this figure of $11 0,600 excludes <br /> buildings, improvements, and that portion of the property that is under water and unbuildable. <br />I Thus, rather than using the appraisal price, fair market value was determined by the value of the <br /> land being taxed. <br />I The four lots have a density of 1.33 dwelling units per acre. According to the City of Arden <br /> Hills Public Use Dedication Ordinance Section 22-9, the park dedication should be based on six <br />I percent ofthe value of the property. This revised value of$110,600 includes all four lots. Six <br /> percent of$110,600 is $6,636. The value of each lot was then determined by the size of each lot <br /> in relationship to the other lots. Since Lots 2 and 4 have existing structures on them, park <br />I dedication was recalculated only for Lots I and 3. <br /> Lot I is .3386 percent of the total area, <br />I X $6.636 <br /> $2,246,95 Park Dedication on Lot I <br />I Lot 3 is .2075 percent of the total area <br /> X $6.636 <br /> $1,376.97 Park Dedication on Lot 3 <br />I $2,246,95(Lot I) + $1,376.97(Lot 3)= $3,623.92 <br />.. The total park dedication fee using this approach is $3,623.92. <br />I <br />