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STjyjSARY OF THE RESULTS OF PARK DEDICATION FEE CHARGED BY ORONO IN RECENT SUBDIVISIONS'he following schedule suiwnarizes the Park Dedication Feed by Orono in recent subdivisions and compares that to theat would have been charged had a 10% Park Dedication Fee [larged.PS Creek - 5 acre zone^cres (37.69 + 14.97) ilue (131,800 + 50,000) of Lots (PRD)sdication Fee Actually Charged <br />'ercentage of Value (10% of 181,800) <br />View - (Peterman Addition) 2 acre zone <br />cres <br />lue <br />of Lots <br />dication Fee Actually Charged <br />srcentage of Value (10% of 83,900) <br />liry Addition - 2 acre zone <br />• • <br />:res <br />.ue <br />if Lots <br />[ication Fee Actually Charged <br />rcentage of Value (10% of 115,000) <br />Meadows - 2 acre zone <br />res <br />ue <br />f Lots <br />ication Fee Actually Charged <br />rcentage of Value (10% of 49,000) <br />52.56§181,80010$1,000 <br />§18,180 <br />18.75 <br />§83,900 <br />6 <br />§1,200 <br />§8,390 <br />34.24 <br />§115,000 <br />11 <br />§2,200 <br />§11,500 <br />18;47 <br />§49,000 <br />6 <br />§1,200 <br />§4,900 <br />foregoing schedule, we believe, demonstrates the woeful <br />:y of the current Orono Park Dedication Fee Schedule <br />the fees charged by other similar communities <br />NEED FOR ADDITIONAL FUNDINGThe following schedule summarizes the Park Dedication Fees collected and expended from the time the Park Dedication Fee Schedule was first adopted in 1976 through the end of 1988. It also shows the current balance in the lund.PARK FUNDCash and investments balance at 12/31/88Investment §117,113Year1988Tnt. Ea-rned 'T’ota''Expand t:§ 7,900 § 8,923 $ 16,823 $ 16,63119876,440 10,368 16,808 32,39419866,950 10,283 17,233 1,88419852,950 11,125 14,075 5,917 <br />1984 11,830 11,744 23,574 15,888 <br />1983 6,290 11,708 17,998 68,834 <br />1982 17,339 17,664 35,003 6,199 <br />1981 5,480 19,268 24,748 7,661 <br />1980 2,890 9,258 12,148 7,731 <br />1979 10,140 10,515 20,655 7,316 <br />1978 38,781 5,996 44,777 989 <br />1977 37,964 305 38,269 14,398 <br />1976 29,239 142 29,381 2,535 <br />1975 <br />Total <br />7.453 3.453 — — <br />§186,646 §127,299 §313,945 $188,377 <br />Major expenditures include the following: <br />1988 - Well at Hackberry Park to flood skating rink <br />1987 - <br />1984 - Bederwood Park and Summit Beach <br />1983 - Repay golf course debt <br />The current size of the fund (§117,000) plus annual <br />addition of under §10,000 prevent the Park Commission from <br />undertaking cny more than a "maintain and hold" approach toward <br />the existing park system. Major improvements and enhancements