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Park Land Dedication, Case No. 1912 Page 3 new development. (If an existing lot with a single-family horse is divided to create one new lot, the money in lieu of land fee shall be for one dwelling unit only.) g) Payment of money in lieu of land fees are due at time of filing of the final plat. h) Land dedication for park use may include fee title or easements for pathways, bicycle trails, major preservation areas, or areas for passive recreation and/or active recreation. Land dedicated for required street right-of-way and required drainage areas are not considered appropriate for park land dedication. 6. The following are some comments relating to the suggested ordinance: a) In many cornm , ities the adoption of a payment per single-family lot has proven co be an efficient and fair method applied to the land dedication ordinance where single-family lots are involved. In Mendota Heights, the current price for a single-family lot for park dedication is $650.00. Lots sell for as low as $45,000.00 to $100,000.00 per lot. Assuming approximately three lots per acre (or slightly less) at Roseville densities, this means a raw land value of approximately $15,000.00 per acre. As a rule of thurnb, the raw land value ,tlould be one-third of the ultimate lot value. Thus, $500.00 at 10 percent of $5,000.00 with a finished lot value of $15,000.00. Lrats in Roseville range from a minimum of $35,000.00 and more. The value for multi -family housing land in the Metropolitan Area varies from about $3,500.00 per acre up to about $5,000.00 per ,acre. Thus, at S3,500.00 per acre, 10 percent of that vuluc is S350.00. Thus, [hr: suclgestion of a payment per unit for multi-fa,rnily iiuusiric� structures is $350.00. ta) The vaalue caf r? yr l and for townhouses is considerably higher than tlaaat for f.+ ty,a,raal multi -facility housing structure (such Us it(' ala;►rtrs� #rat). fitl►,�:, rt -ccrna that for r townhouse or a duple unit, *'I v.filto of , 400.00 per unit may bu reasunablta. c; tt i , Ali f f rcalL t u .. �t , vaalue fur park dedic:aatiorin can as per acre bsa�r fair ln�.rr��r i fir industriarl land. These vnluc�s vary Haan iti��r tl;� dcp riiiir�� location .ihirthu cciunit}.an tile "aortic.. twit;hint s propertion have sole; for tir3 nlut:h as $10'00 per f;qurtrty fuot w1liell equals $ a35,600.00 per acre. Sonic Industrial land :;ells for aas low as S1.00 to $2.00 per square Pout. Frequ01411y, when an industrial or business property is divided, there t+.a.a been al stile. The land dedication should be based on the vtlltaet of the ruw land not improved and without any existing structures. The dedication should be required only where as new tausiness jr industrial lot is to be created. A lot with an oxistinr, structure would tee exempt. As noted in this report, the same principle will apply whure an existing house occupies ra portion of the land to be dividod. Ira other words, n lot split would require payment for Otte housing unit for the now lot created.