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#2425 - Rebers Subdivision <br />October 15,1998 <br />Page 3 <br />Park Fee Determination <br />Because no Park fee was paid for Outlots E & F in the original platting of Sugar Woods, a park fee <br />is now due for the conversion of Outlot E to buildable lot status, under the current park dedication <br />ordinance. <br />The City Assessor in November 1997 established the Fair Market Value at $3.05/s.f. for the <br />property. Staff calculated the lot area (exclusive of the triangular road segment Outlot A) at <br />approximately 41,072 s.f, yielding a valuation of $125,270 and an 8% park fee of $10,021 per the <br />ordinance then in effect. The City Assessor will be asked to update the Fair Market Value for 1998. <br />In April 1998 Council adopted a revised park dedication ordinance. Staff will be reviewing the new <br />ordinance to determine its impact on this subdivision. <br />Staff Recommendation <br />Staff recommends renewal of the preliminary plat approval granted approximately one year ago, with <br />no revisions or changes. There are no changes in the City's Comprehensive Plan for this area that <br />would change any of the prior findings. The primary items remaining to be resolved are the <br />stormwater plan (developer to provide as a condition of preliminary plat approval) and an estimate <br />of future road costs (City to provide) for purposes of the required escrow/security. <br />Options for Action <br />1. Recommend renewal of the approval granted in Resolution 3972 with no changes. <br />2. Table for further information (specify). <br />3. Recommend denial (state reasons). <br />4.Other.