|
<br />
<br />The final total service units is to the number of residential units
<br />by the EDUs per unit calculated earlier based on relative average household sizes. To detem1ine total
<br />existing EDUs for the purpose of the park impact fees, the estimated number of
<br />dwelling units of each housing type is multiplied by the appropriate EDUs per unit and the results for
<br />all housing types are summed, As shown in Table 24, there are an estimated 17,239 park service units
<br />(EDUs) in Conway,
<br />
<br />Table 24
<br />
<br />EXISTING PARK SERVICE UNITS
<br />Housing Type
<br />2003
<br />Units
<br />EDUs!
<br />Unit
<br />Total
<br />EDlis
<br />Single-Family Detached 11,888 .00 1 ,888
<br />Multi-Fami]y 6,007 0.70 4,205
<br />Mobile Home 1,3170.87 ],146
<br />Total Park Service Units 17,239
<br />2003 units from Table 23; EDUs per unit from Table 22.
<br />Conway\Road and Park Impact Fee Study April 15,2003 DRAFT, Page 23
<br />
<br />COST PER SERVICE UNIT
<br />Since the City has not purchased any park land in recent years, the City contacted a local property
<br />appraiser, who estimated that the City's existing park land is currently worth approximately $39,000
<br />per acre, as shown in Table 25. To be conservative, the City has decided to use a cost of $20,000 per
<br />acre in developing the impact fee.
<br />
<br />Table 25
<br />
<br />P ARK LAND COST PER ACRE
<br />Facility Acres
<br />Estimated
<br />Value
<br />Cost!
<br />Acre
<br />Airport Park 6.0 5240.000 S40,000
<br />Beaverfork Park 50.052,500,000550,000
<br />Bainbridge Park 6.0 5 J 50,000 525,000
<br />Curtis Walker Park] 5.05675,000545,000
<br />Don Owen Park J 25055,000,000540,000
<br />5th A venue Park] 0.0 5500,000550,000
<br />Gatlin Park] 3.05325,000525,000
<br />Laure] Park J 9.05950,000550,000
<br />McGee Sports Ccntcr 14.0 $700,000 S50,OOO
<br />Pine Street Park .5 559,000539,000
<br />Tucker Creek Trail 30.0 5270,000 $9,000
<br />Tota] 289,5 S] ] ,369,000 $39,000
<br />Assumed Land Cost per Acre 520,000
<br />Source: Estimated park land value from \Vayne Coates, January 10,
<br />park land Pine Street estimated consultant using
<br /><i\'erage cost per acre for the sum of all park land.
<br />
|