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Case #3 <br /> <br />RECOMMEND PARK DEDICATION FOR FERRUM ADDITION <br /> By: Mark Boos, Parks/Utilities Supervisor <br /> <br />Background: <br /> <br />As a result of r~cent improvements and opportunities in the industrial area, the City is in the <br />process of platting an approximate six acre parcel west of Sunfish Lake Boulevard and north of the <br />railroad tracks..q]he attached April Planning Commission case provides the detail for this case. It <br />is believed that there are no park, trail, or tree conservation issues relating to this parcel. <br /> <br />Stafff Recomrr <br /> <br />Staff recommend~ <br />$2,100 per acre <br />$5,988,39 per ac~ <br /> <br />tendation: <br /> <br />that park dedication be satisfied by a cash payment of 5% of fair market value or <br />'which ever is greater). In this case, the market value is determined to be <br />e. <br /> <br />Commission ACtion: <br /> <br />Motion to recom .mend that City Council require $1,796.52 in park dedication be deposited in the <br />Marble Recreatiorj District at the time of the lot(s) development. <br /> <br />Reviewed by: <br /> <br />Parks/Utilities Supervisor <br />Zoning Administrator <br />Economic Developinent Coordinator <br /> <br />P&R: 4/11/96 <br /> <br />/kas <br /> <br />Copies also distributed to: <br />City Administrator <br /> <br /> <br />