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Commerdial Park Dedication Fees 2004 <br /> <br />Fee per <br />acre $. $ / sq ft Cities using this rate <br />3400 0.078 Blaine <br />4356 0.100 Current rate 5% of $2.00 min <br />4446 0.102 Current Combined Park & Trail <br />4500 0.103 <br />500'.0_, 0.115 Maple Grove Industrial <br />5500 0.126 <br /> 6000. 0.138 <br /> Brooklyn Park, Maple Grove <br /> 6500 0.149 Commercial, Plymouth <br /> 80.00 · 0.184 Champlin Industrial <br /> 10000 0.230 Champlin CommerCial <br /> <br />Staff recommends adopting a .fee per acre basis for calculating park dedication fees and <br />going awgy from the % FMV method currently in use. Staff recommends that the <br />commercial/industrial trail fee for 2004 be increased to at least $1090/acre. This would <br />make the combined park/trail fee $4446/acre. The quality of existing parks, needed <br />improvements, and proposed improvements should be evaluated, taking into 4': <br />considerahon the new developments coming into Ramsey. These proposed <br />improvements, should be evaluated in conjunction with the 5 year Capital improvement <br />program t0 determine if the current park and dedication fee structure will provide the <br />necessary~funds to build the future park improvements, <br /> <br />Commission Action: <br />Commission is asked to approve the immediate increase in commercial ~rail fees to <br />$ / acre. (Staff recommends $1090/acre). This decision will be forwarded to City <br />Council for their action. <br /> <br />Reviewed by: <br /> <br />Assistant public Works Director/Principal City Engineer <br />Finance Officer <br /> <br />P&R: 02i19/04 <br /> <br />53 <br /> <br /> <br />