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roads). Below is the projected breakdown of the residential and commercial acreage and <br />resulting land or cash due: ~ <br /> <br />Residential ( acres or __ % of the Town Center plat, with a net density of units per <br /> <br />acre) <br /> <br />City Code requires % land dedication for the residential density proposed, which, <br />according to the City's formula, projects __acres of land to be dedicated. <br />· The cash due (if there is no land credit) ~ $1,800 per unit is $4,248,000. <br />· The Trail Fee due ~ $475 per unit is $1,121,000. <br /> <br />Commercial (102.2 acres or__ <br /> <br />% of the Town Center plat) <br /> <br />City Code requires 5% land dedication, which projects acres of land to be dedicated. <br />· The cash due (if there is no land credit) ~ $2.00 per square foot is $445,052. <br />· The Trail Fee due ~ $100 per acre is $10,217. <br /> <br />Total land dedication 'requirement' = ~ acres. <br /> <br />The above computations with a credit for the 21.39 acres of park land, leaves a 'land. deficit' of <br />__acres or __% of Park Dedication owing. The remaining Park Dedication then may be <br />satisfied by a cash contribution of $__ per dwelling unit. <br /> <br />Staff would note that the above unit fee is based upon the 2003 rates, and fi~rther, other variables <br />yet to be addressed within the Development A~eement may change the projections tiffs <br />worksheet sets forth. <br /> <br />Commission Action: <br /> <br />None required at this time. <br /> <br />Reviewed by: <br />Parks Utilities Supmwisor <br />Assistant Public Works Director/Principal City Engineer <br />Assistant Director of Community Development/Principal Planner <br />T.I.F. Specialist <br /> <br />P&R: 09/11/03 <br /> <br /> <br />