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CASE #5 <br /> <br />REQUEST TO REVIEW SKETCH PLAN OF RIVER'S BEND 3RD ADDITION; <br />CASE OF RICK FOSTER, OXBOW PROPERTIES <br /> By: James Gromberg, Project Manager <br /> <br />Background: <br /> <br />Rick Foster of Oxbow Properties has applied for sketch plan review of the proposed plat of <br />River's Bend 3rd Addition. The plat consists of approximately 20 acres located east of St. Francis <br />Blvd. N.W. and north of River's Bend Plaza 2nd Addition. The property is currently zoned B-1 <br />Business and the developer is proposing to rezone the property in order to develop that portion of <br />the property adjacent to River's Bend with single family urban residential lots and retain business <br />zoning for that portion of the property adjacent to St. Francis Blvd. N.W. River's Bend 3rd <br />Addition is proposed to be developed with 33 residential lots and eight commercial lots that wilI be <br />served by municipal water and sanitary sewer. <br /> <br />The following items are enclosed for your information: <br /> <br />a) <br />b) <br />c) <br /> <br />Site location map <br />Sketch plan <br />City Engineer's review letter dated February 27, 1991 <br /> <br />Observations: <br /> <br />On February 27, 1991 the City of Ramsey received an application from Rick Foster of Oxbow <br />Properties for a subdivision to be named River's Bend 3rd Addition. <br /> <br />The sketch plan will be submitted to the Park and Recreation Commission on March 7, 1991 for a <br />determination of park dedication requirements due on the plat. <br /> <br />Based upon current City Code, the following formula is followed for the computing of park <br />dedication requirements: <br /> <br />Number Type of Percentage Acres <br />of acres property required required <br />11.5 acres Residential 10% 1.15 acres <br />7.5 acres Commercial 5% 0.38 acres <br />Total Acres 1.53 acres <br /> <br />The City's master park plan does not call for additional parks in this area. However, the plan does <br />call for the extension of the trail corridor along the eastern boundary of the plat. The trail corridor <br />would be 35 feet wide and comprise approximately 1.44 acres. The 1.44 acres would account for <br />94 % of the required park dedication. The remaining park dedication would be fulfilled by a <br />payment of $I,136.25 using the following calculations: <br /> <br />33 Units @$500/unit $16,500.00 @100% $16,500.00 <br />7.5 Acres @$6,500/acre $48,750.00 @5% $2,437.50 <br /> $18,937.50 <br /> 6% <br />Cash Requirement $1,136.25 <br /> <br /> <br />