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Commercial Park Dedication Fees 2004 <br /> <br /> 'r' <br />Fee per ? <br />acre $ $ / sq ft Cities using this rate <br />3400 ~ 0.078 Blaine <br /> ~ 0.100 Current rate 5% of $2.00 rain <br />4356 . ~ <br />4446 i 0,102 Current Combined Park &Trail <br />45OO rE 0.1103 <br />5000 ~ 0,1:15 Maple Grove Industrial <br /> ' ' 0~1126 <br /> 5500 [: ~ <br /> 6000 L 0.138 <br /> ~ Brooklyn Park, Maple Grove <br /> 6500 ~ <br /> .~ 0.1'49 Commercial, Plymouth <br /> 8000 ,r.: 0.184 Champlin Industrial <br /> 10000 ...~ 0.230 Champlin Commercial <br /> <br />Staffrecomjnends adopting a fee per acre basis for calculating park dedication fees and <br />going away fi'om the % FMV method currently in use. Staff recommends that the <br />commercia~industdal trail fee for 2004 be increased to at least $1090/acre. This would <br />make the cOmbined park/trail fee $4446/acre. The quality of existing parks, needed <br />improvemel?ts, and proposed improvements should be evaluated, taking into <br />consideration the new developments coming into Ramsey. These proposed <br />improvemetits should be evaluated in conjunction with the 5 year Capital improvement <br />program t° ~letermine if the current park and dedication fee structure will provide the <br />necessary lands ~o build the future park improvements. <br /> <br />Commission Action: <br />Commissiot~ is asked to approve the immediate increase in commercial trail fees to <br />$ / acr~. (Staff recommends $1090/acre). This decision will be forwarded to City <br />Council for ~their action. <br /> <br />Reviewed liy: <br />Assistant P~blic Works Director/Principal City Engineer <br />Finance Officer <br /> <br />P&R: 02/19/04 <br /> <br /> <br />