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Fee <br />c dedication fee <br />ion requirements <br />of the City's park <br />T has determined <br />y new residential <br />; as follows: <br />>8 analysis <br />j in the totals <br />SI,4 85,000 <br />5 495,000 <br />$ 385,000 <br />S 616,000 <br />$ 275,000 <br />51,375,000 <br />S 275,000 <br />SI, 25,000 <br />SI50.0C0 <br />$250,000 <br />S200,000 <br />$5,520,000 <br />Added Park Laud and Improvements Since 1997-98 <br />Larson site in Navarre $200,000 $ 200,000 <br />Carlson site (Crystal Creek)29 Acres $15,000?$ 435,000? <br />Trails in Bancor site $ 60,000 ?$ 60,000? <br />Navarre Park Improvements $100,000 $ 100,000 <br />Sub Total $ 795,000 <br />Summary <br />Total Property Acquisition Intended <br />Expected Park Development'Improvements (1997-98 Value x I.IO) <br />" Trails " " ( " ) <br />Added Parks Land/Items Since 1997-98 <br />1997-98 Existing Parks Value 5.500.000 x 1.10 inflation factor <br />$ <br />5.520.000 <br />770,000 <br />3.300.000 <br />9.590.000 <br />Total Parks Expenditure <br />Dwelling units at full development per 2000-2020 CMP <br />Current dwelling units per 2000-2020 CMP <br />Number of dwelling units to be added <br />$ 795,000 <br />$ 6.050.000 <br />S 16,435,000 <br />3,990 <br />3.010 <br />980 <br />Projected # dwellings to be added is 980/3990 = 25% of total projected dwellings <br />The added 25% of dwelling units should pay 25% of the projected value of the City’s park system, <br />25% of $16,435,000 is $4,110,000 <br />$4,110,000 to be paid by 980 dwelling units is $4,194 per unit; round up to $4200 / unit <br />Because of the vastly differing lana values in Orono, the application of the general 8% park <br />dedication requirement would result in properties with lower values paying less than the $4200 <br />average and properties with higher values paying more than the $4200 average. <br />The establishment of a minimum and maximum park dedication fee amount is needed to address the <br />requirement for rough proportionality between the park dedication fee and the impact of residential <br />development on the park system. The initial differential from the average was set in 1998 at <br />plus/minus $ 1000 or approximately ±25%, yielding a range of fees from $2,900 to $4,900. W ith the <br />new dwelling unit average of 54,200 staff is recommending a minimumv'ma,ximum fee range of <br />$3,100-55,300.