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mwin, <br />\ <br />i ► o ► • • <br />= |af5jfsssa- <br />2 1 I I 8 88 8 ^ ‘ ^ a► g* szm Iss S s f I 8 : ^rg 8 s 8 <br />To:Planning Commission <br />Park Commission <br />Council <br />Ron Moorse <br />Greg Gappa <br />Michael P. Gaffron, Senior Planning Coordinator <br />October 20,1997 <br /># 2294 - PARK DEDICATION OPTIONS <br />Site Parameters <br />Area of existing site excluding existing rights-of-way: <br />Standard Park Dedication (8% of 8.43 Acres): <br />8.436 Acres <br />0.675 Acres <br />'Fair Market Value' before development (Estimated for <br />discussion purposes only) = $25,000/acre x 8.436 acres:$210,900 <br />Park Dedication Cash Payment in Lieu of Land at <br />8% of Fair Market Value (Est. for discussion):$ 16,872 <br />Proposal A (Per plat drawings presented to Park and Planning Commissions) <br />Proposed Park Land Dedication <br />Portion of R':%^,'red Park Dedication via Land (0.591/0.675): <br />0.591 Acres <br />87.6% <br />Park Fee [(1.000-0.876) x $16,872]:$2,092 <br />Ramifications: <br />Ravine area including the area between north and south branches is protected as park <br />land for public use <br />Small portion of steep southeasterly ravine bank remains within north end of Lot 1 <br />The natural character of the head of the ravine is protected from use as private <br />property, eliminates possibility of tree removal or accessory buildings west of the <br />ravine <br />City gives up $14,800 in park fees