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November 2011 Park Fee Analysis P. 3
<br />Current Park System Valuation. The value of the existing Orono park system was established in
<br />1997 at $5,500,000. Inflation factors of 1.10 for the period 1998-2000 and 1.07 for the period 2000-
<br />2001 had increased this to $6,474,000 by the end of 2001.
<br />Attached is a table (see Table 2 attached) listing the various properties that make up the Orono Parks
<br />system, their acreage, and the Hennepin County Assessor's 2010 `Market Land Value' of each parcel
<br />(on a regular basis the Assessor assigns a valuation to all tax-exempt property in the county). Also
<br />included are the date and method of acquisition of each property, as well as the price paid at the time
<br />of acquisition (these have not been adjusted for inflation).
<br />The total valuation of existing City -owned park and undesignated open space land in Orono as
<br />of 2010 was $32.9 million. This figure includes three large `undesignated' land parcels that
<br />contribute to Orono's open space holdings but have not been designated as "Parks", totaling 86 acres
<br />with a valuation of $4.4 million. The figure does not include the various City beaches and lake
<br />accesses that are within dedicated road rights-of-way, as the Assessor does not assign a value to
<br />public right-of-way. Additionally, the value of the existing 6.2 -mile City trail system is estimated at
<br />$990,000 based on the estimated replacement cost at $30 per lineal foot. Note that certain parcels in
<br />Table 2 marked "TF" were acquired by the City through tax forfeiture, and would revert to Hennepin
<br />County for disposal if the City chose to divest itself of those properties. Also note that many of the
<br />City's park properties were donations by Orono residents.
<br />Future Acquisitions. The following table is a 2011 update of Table 1. This table includes an
<br />updated estimate of costs of acquisition of land and/or easements for and construction of the City's
<br />planned trail system. The 2008-2030 Community Management Plan maps approximately 24 miles or
<br />approximately 127,000 lineal feet of planned public trails to be constructed in the future, the vast
<br />majority of which will not be installed as a result of future residential developments. The cost of
<br />right -of way acquisition and trail construction is estimated at $30 per lineal foot. Total estimated cost
<br />to complete the planned trail system is $3,800,000.
<br />Projected (Potential) Park Land Acquisitions as of November 2011
<br />Property
<br />Total
<br />Acres
<br />Est. Price
<br />per Acre
<br />Total Cost
<br />Acres to be
<br />Acquired
<br />Est. Cost to
<br />Acquire
<br />2011
<br />Dayton property (Cry 6 g Orono border)
<br />89
<br />$100,000
<br />$ 8,900,000
<br />45
<br />$4,500,000
<br />Properties west of Orono Golf Course
<br />16
<br />$ 36,000
<br />$ 575,000
<br />16
<br />575,000
<br />140 Hackberry Hill - house/lot in park
<br />0.53
<br />$479,000
<br />$ 254,000
<br />0.53
<br />254,000
<br />Steinhafel property (Crystal Bay
<br />60.5
<br />$156,000
<br />$ 9,459,000
<br />25
<br />3,900,000
<br />Luce Line Access to Lowry Woods (145
<br />Turnham Road, land & house
<br />7.4
<br />$ 73,000
<br />$ 542,000
<br />7.4
<br />542,000
<br />Bayside Road Access to Lowry Woods
<br />1
<br />$ 50,000
<br />$ 50,000
<br />1
<br />50,000
<br />Property east of Stubbs Bay Rd S. of RR
<br />back half of 3330 Watertown Rd)
<br />25+
<br />$ 20,000
<br />$ 500,000
<br />25
<br />500,000
<br />Camp Teko
<br />18.3
<br />$448,000
<br />$ 8,200,000
<br />18.3
<br />8,200,000
<br />Trail underpass CR 6/OCB Rd
<br />NA
<br />---
<br />300,000
<br />---
<br />300,000
<br />Neighborh'd Park near Hwy 12/OCB Rd
<br />300,000
<br />City Trail System Completion
<br />Varies
<br />Varies
<br />$ 3,800,000
<br />Varies
<br />3,800,000
<br />--
<br />---------
<br />--—$-22;921;000-
<br />- - —
<br />Existing Park System Valuation
<br />32900,000
<br />Total Prdected Park System Valuation
<br />1 $ 55,821,000
<br />Council should review this list of potential parkland acquisitions/improvements and consider
<br />whether this list reflects current Council thinking.
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