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Calculating Park and Trail Fees/Credit <br /> <br />The formula we used for calculating park and trial fees, per <br />conversations with City Staff, is as follows: <br /> Residential Park Land Dedication <br /> 15% of gross acreage = 5 units / acre <br /> add .5% of gross acreage for each additional unit/acre <br /> proposed <br /> <br /> Commercial Park Land Dedication (non-residential uses) <br /> 5% of gross acreage <br /> <br /> Residential Value <br /> $ 1,800 / unit for parks <br /> $ 475 / unit for trails <br /> Commercial Value <br /> 5% of fair market value for improvements, or... <br /> $ 2 / square foot minimum value <br /> $ 1,000 / acre for trails <br /> <br />The park and trail fee based on tl~e Master Plan concept <br />(excluding credits for now) is as follows: Residential Park Fee <br /> 2,400 units x $ 1,800 / unit = $ 4,320,000 <br /> Residential Trail Fee <br /> 2,400 units x $ 475 / unit = $1,140,000 <br /> Commercial Park Fee <br /> 1,000,000 square feet x $__._2/.s~.quare foot$ 2,000,000 <br /> Commercial Trail Fee <br /> 102 acres x $ 1,000 / acre = $ 102,000 <br /> Total Park and Trail Fees <br /> $ 7,562,000 <br /> <br />This is what we want <br /> <br />18 Parks, Trails, Open Space Proposal <br /> Ramsey To~a~ Center LLC <br /> <br /> <br />