Agenda - Council - 02/26/2002 - Laserfiche WebLink

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I I I I I I I I I I I I i I I I ! I The Park Dedication requirements for the 74.37 acre Highlands At River Park property, shall include a total of 2.91 acres of land dedicated adjacent to Woodland Green, Bear, and the unnamed Park at the North edge of the Plat. This land dedication represents 39% of the Park Dedication due on the Plat. The actual dedication of the land shall occur at the time the phase adjacent to the park(s) are final platted. The remaining park dedication requirements shall be met by park improvements equating One Hundred Sixty Two Thousand Eight Hundred Nine Dollars and no cents ($I62,809.00) in cash value, based upon the 2002, $1700 per unit Park Dedication Fee and a total of 157 lots. The value of any park improvements provided by the DEVELOPER shall be determined by the lowest of three qualified bids or by mutual agreement between the parties and may include associated design, inspection and staking costs. The CITY may choose to complete any portion of the work, including, but not limited to, inspection, clearing and grubbing and 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 $162,809.00 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 (10) stallbimminous parking lot. The DEVELOPER shall install the above with B6/12 continuous concrete curbing around the perimeter of said lot, at the "new" Southeast corner 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 neTM 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 tuff 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 may exceed the cash amount ordinarily due for this phase (referred to below as "overage"). Park Dedication shall be considered satisfied at the rate in effect at the time of approval of the final -1.17-