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CASE <br /> <br /> [ <br /> <br />Background: <br /> <br />BUDGET APPROVAL FOR RIVERDALE PARK <br />By: City Administrator Ryan Schroeder <br /> <br />In passage of the 1994 Budget, Council programmed $36,700 in tax increment funds, as <br />well as park d r. Aication fe~$, toward development of Riverdale Park. Earlier, Council had <br />authorized (th rough the development agreement) an expenditure toward park trail paving. <br />Also previous iy authorized were expenditures toward the ReLeaf Grant Program resulting <br />in the windbr~:ak tree planting within the Rivenwick Subdivision. <br /> <br />Enclosed are the following: <br /> <br />1) Riven~ale Park Concept Plan (a.k.a. Rivenwick Park) <br />2) Rive ~rdale Park Budget Proposal <br />3) Playg~. und Design <br /> <br />Given the above, remaining to be allocated by Council is $57,461.84 toward playground, <br />tennis court, I~all field, and related improvements. The base playground with installation <br />will be $24,9~5. That leaves $32,486.84 for the tennis court, backstop,some fencing and <br />landscaping. ~ny available funds would be programmed into playground upgrades. <br /> <br />Staff feels th~.t development of this park as proposed with the allocated funding sources is <br />very approprg3te. Since mid-1992 the City has experienced recording of the following <br />major urban sttbdivisions (with various numbers of phases in 1992 - 1993): <br /> <br /> Percent of <br />Subdivision Build Out <br /> <br />Chesmut Pond <br />Windemere Woods <br />Cedar Hills <br />Sunny Ponds <br />Chestnut Hills <br />Wood Pond Hills <br />Amber Ridge <br />Rivenwick <br /> <br />94.44% <br />90.38% <br />82.86% <br />78.95% <br />68.24% <br />45.56% <br />35.48% <br />21.56% <br /> <br />As was experienced with the Wood Pond projects, park development will have a positive <br />impact on malketing of the subdivision. Rivenwick is a subdivision with 94 units, after the <br />second phasej projected to pay $1,989 in total taxes/unit after buildout. This compares to <br />$1,146 withir~ Chestnut Hills and $973 at Chestnut Ponds. We are concerned that efforts <br />should be m~tde to ensure that any perceived or real negative impacts of adjacent <br />commercial a/cas are counteracted, <br /> <br />Council Action: <br /> <br />Motion to aPprOve 1994 funding toward Riverdale Park in the not-to-exceed amount of <br />$57,461.84 p~suant to the 1994 Capital Improvement Program. <br /> <br />Reviewed by: <br /> <br />City Adminisl~rator <br />Parks/Utilitie~ Coordinator <br />Finance Officer <br /> <br />CC: 01/25/94 <br /> <br />II <br /> <br /> <br />