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PORT CROSBY PARK DEDICATION PROGRAM <br />11/9/89 <br />PROPOSAL FOR DISCUSSION <br />The following represents a suggested public park donation <br />program based on formulas presented by other communities. A <br />report compiled by the City of Lakeville is attached. <br />Port Crosby Planned Unit Housing Development <br />Residential range is $250.00 to $518.00 per unit. <br />Average range is approximately $400.00 per unit. <br />Park Dedication <br />Port Crosby has approximately <br />700 units @ $400.00 per unit 5280,000 cash and/or land <br />equivalent park donation <br />for residential <br />development <br />Trail Dedication <br />Average trail dedication per <br />unit is $100. $100.00 per unit <br />based on 700 units �700■00 in trail dedi- <br />cation <br />Marina Development <br />.Y■II�il.■1 m.IP..Y■i■1�Y■Y�Yr■ ■ <br />Commercial/industrial <br />Industrials <br />$1,125/acre <br />$1,400/acre <br />S1,650/acre <br />Comoro rc i a 1: <br />$2,625/acre <br />$2,560/acre <br />$3, 380/acre <br />C rcial/Industrial range is $1*125 to $3,300 per acre. <br />,average is $2,123.00 per acro. <br />Harin,a site is 20 acres x <br />S2,123.00 per acro <br />Would represent the average park <br />donation in eithr land or cash or <br />combined based on the formula <br />presonted by other cities. <br />Ho var this dollar value <br />oes not take into account the <br />extent to which public dollars ,are <br />involved in the project nor the <br />use opt tax .increment financing. <br />Theroforo this dollar figure should <br />reprosent the minimum acceptablo <br />donation from tho devolopor to tho <br />City* <br />4600 mark donation <br />for Marine <br />1.0 <br />