CCP 04-26-1999 - Laserfiche WebLink

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. e e e ~\orr f \ Iv CITY OF ARDEN HILLS MEMORANDUM DATE: April 21, 1999 TO: Mayor and City Council Thomas Moore, Parks and Recreation Director -r~ J. ~ Park Dedication, Case #99-02 FROM: SUBJECT: Backeround Ralph Hines intends to split the lot at 1700 Valentine Avenue into two parcels. Since park dedication has never been paid on his land, the applicant is required to do so as part of the lot split process. Parkland or Park Fee The proposed plan provides for no dedication of park land and the Parks and Open Space map (Comprehensive Plan) does not show the need for park land on this site. Therefore, the staffwill be recommending payment of a park dedication fee in-lieu of the dedication of park land. The appropriate park dedication fee is to be determined by the City Council as provided for by the Subdivision Ordinance in Section 22-9 of the City Code. Park Dedication Fee Calculation Based on the Registered Land Survey, this area is 1.123 acres and has a proposed density of .53 dwelling unites per acre. The park dedication fee for residential projects of 0-2 dwelling units per acre is 6 percent of the fair market value of the property, per the Arden Hills Public Use Dedication Ordinance Section 22-9. Since the property owner has stated that an appraisal has not been done on the parcels, I am recommending that the fair market value of the property, excluding the house, be detennined by the 1998 tax role and recent purchase agreement value of the property. In most cases, the tax role value of the property is less than the appraised value. In this case it appears the assessed value is higher. The assessed value is as follows: $94,900 land value (66.6% of total) $47,600 building value (33.4% of total) $142,500 total value By calculating the percentage of the total value that is land from the assessed value we can apply the same percentage to the purchase value to determine a land value. The recent purchase value of the parcel was $115,000. By calculating 66.6% (% of land value) by the $115,000 purchase value you get a land value of $76,585.97. A park dedication fee requirement of 6 percent would amount to $4595.16 ($76,585.97 x .06).