Agenda - Parks and Recreation Commission - 11/12/2015

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The discussions on conveying the aforementioned land to the city for park purposes occurred, and an agreement has been reached, subject to Park and Recreation Commission concurrence, and a recommendation to City Council. In summary, after factoring previous Park Dedication (land) that had been deferred, and future Park Dedication and Trail Fees that will be owed to the city upon platting land presently owned by Northfork Inc., the agreement pencils -out with the city receiving all of the 37 -acre Outlot E Moors Addition for park, with a $75,000 payment by the City to Northfork Inc. to compensate for the differences between Park Dedication obligations and land valuation. The 'new' park space proposed is shown as Outlot E, on the attachment entitled Outlot Exhibit. Funding Source: The $75,000 in cash required to be paid by the City, after reconciling for the development fees owed, past and future, would be from the Park Trust Fund, monies derived from development in the form of Park Dedication (cash payments). It is important to point out, that the City accepted 4+ acres immediately southeast of Outlot E to satisfy Park Dedication from a different developer several years ago—with the intention that this land be sold, with the proceeds to be placed into the Park Trust Fund to ultimately provide for the necessary monies to acquire the community park this case discusses. This 4 -acre outlot is presently listed for sale, with the county assessed value at $86,800. The attachment entitled '4 -acre parcel' shows its location. Recommendation: Staff recommends the approval of the Park Dedication agreement in concept, as detailed in the attachment entitled NF Inc. proposal. Action: Motion to recommend to City Council that, a purchase agreement be entered into to satisfy past and future Park Dedication obligations as outlined in the attachment entitled NF Inc. proposal, for the establishment of a community park southeast of Lake Itasca. Attachments Outlot Exhibit NF Inc. proposal cul de sac sketch Summary from Public Engagement Open House doc w exhibit 4 -acre parcel for sale Park and Trail Map Form Review Inbox Reviewed By Date Grant Riemer MaryJo Warner 11/05/2015 02:34 PM Form Started By: Mark Riverblood Started On: 11/04/2015 02:46 PM Final Approval Date: 11/05/2015