10-11-2004 Council Packet - Laserfiche WebLink

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REQUEST FOR COUNCIL ACTION OCT 1 1 2004 CITY OF ORONO DATE: October 11,2004 ITEM NO.: S' Department Approval: Name Gregory A. Gappa Title Director of Public Services Administrator Reviewed: Agenda Section: Public Services Director's Report Item Description: StoncBay Development Park Dedication Fee Credit Park Dedication Fee Credit The 162 unit StoncBay development is being platted in phases. Phase 1 was platted in June of 2003 and contains 54 units which is 1/3 of the units in the full development. Tlie development trunk fees for each phase arc paid when the lots in that phase are platted, fhe trunk fees for Phase I have already been paid based on the 2003 Fee Schedule and a prorated share for the 54 units in this phase. The fees for future phases will be based on the current Fee Schedule in the ye.ir in which they are platted and prorated for the number of units in the phase. The development agreement for the StoncBay project provides for reimburseuient of Development Trunk and Park Dedication Fees that have been paid by the developer as compensation for the additional costs incurred for the construction of trails, storm sewer improvements, and water system improvements that provide a regional benent beyond the improvements necessary to only serve the development. We have received a request for reimbursement of Park Dedication Fees for the public trail along Willow Drive that has been constructed by the developer. The total Park Dedication Fee for the entire development is $526,500 based on the 2003 Fee Schedule. The total fee that will acttially be paid will be in excess of this amount as the fees for future phases will be collected at a higher future Fee Schedule rate. The Park Dedication Fee collected for Phase 1 is $175,500. We are recommending acceptance of the requested cost reimbursement of $34,124.50 for the construction of the public trail along Willow Drive . The Park Fund currently has insufficient funds available for this expenditure. The staff recommendation is for Council approval of a temporary loan from the General Fund to the Park Fund to cover this expendinire with the repayment of this loan as soon as possible from future Park Dedication Fees. Page 1 of 2