Item 8CAmending the Fee Schedule
Resolution 16-026
1
Background
Ordinance 483-F
Park dedication fee in lieu of land dedication
Annually acreage land value
In order to provide for adequate land for parks, recreation and open space, City Council adopted ordinance 483-F establishing park and recreations dedication requirements which included
a park land dedication fee in lieu of land dedication requirements. Per the ordinance the city shall annually establish an acreage land value cost to be used in calculating the fee.
2
Proposed fee
Real Estate consultant
Recent sales
$250,000 per residential acre
$6,250 per lot
$400,000 per non-residential acre
$8,000 per gross acre
To assist with the land value analysis, staff hired a real estate consultant to validate the average value of unimproved parcels of land within the city for residential and non-residential
property. The consultant used recent sales within the city limits to determine the sales price per square foot (cost) which was then converted to a cost for raw acreage.
3
Questions?
4