Agenda - Parks and Recreation Commission - 02/14/2002

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restoration. The CITY and the DEVELOPER, hereby agree to the following prioritized improvements and the process for implementation; Play Equipment A play structure will be installed in Woodland Green Park in the location of the existing equipment no later than October 31, 2002. The DEVELOPER shall submit three (3) different proposals for an installed play structure and associated appurtenances to the Park and Recreation Commission for approval for a project cost between $35,000 and $45,000 in value. The CITY shall authorize the project and prepare a memorandum of understanding, detailing the various responsibilities and costs to be deducted from the $124,500 in Park Dedication 'owed' to the CITY. Parking Lot Concurrent with the playground project, the DEVELOPER shall dedicate the park land adjacent to Woodland Green Park, or an easement for an eight (8) to ten (I0) stall bituminous parking lot. The DEVELOPER shall install the above with B6/12 continuous concrete curbing around the perimeter of said lot, at the "new" Southeast comer of Woodland Green Park, as shown on the preliminary plat. The parking lot shall be connected to 155th via a temporary bituminous drive lane if the corresponding new road in the Highlands At River Park has not yet received final plat approval. The DEVELOPER shall submit specifications and a cost proposal to the CITY for a completion schedule no later than that of the playground. The CITY shall approve the project by a memorandum acknowledging the value to be credited against the remaining Park Dedication owed. In addition to the above, the DEVELOPER agrees to grade and provide for turf establishment on the new park land to be dedicated. The CITY hereby agrees to provide credit for any re-grading of existing park land beyond that necessary to facilitate blending of the topography of the newly dedicated parcels. It is anticipated that a portion of the park improvements above will be completed prior to final platting future phases of this Plat and the cost of these park improvements will exceed the cash amount ordinarily due (referred to below as "overage"). Park Dedication shall be considered satisfied at the rate in effect at the time of approval of the final plat and development agreement which authorizes the improvements using the following equation: The ' Overage' amount divided by the then cash per lot rate shall equal the number of lots that shall be considered Park Dedication satisfied. This formula shall be used if the CITY requires a cash payment in lieu of any park improvements to satisfy Park Dedication requirements. Concurrent with the applicable phase, both Woodland Green and Bear Parks will have six (6) inch water services available. Woodland Green shall also have a sewer service stubbed out. These utility services will be provided at no cost to the CITY. Any sewer or water improvements on the park land to be dedicated or the existing park land and beyond the street right of way, may be considered a park improvement for purposes of Park dedication.