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5. COMMISSION BUSINESS <br />5.01 Park Dedication Recommendation for Riverstone — Capstone's Proposed Subdivision <br />Mr. Riverblood reviewed staff continues to support Park Dedication for the trail corridor which shall <br />become a part of the future Lake Itasca Greenway between the Lake Itasca Community Park and The <br />COR. The calculations are shown in this table provided by Capstone (the numbers have not been verified <br />as yet). The first item, *Land shall not be identified as a cash amount for this 14' foot trail easement. If <br />Capstone wishes Park Dedication credit, the acreage shall be credited, and the associated cash balance <br />will be adjusted by the percentage of land the trail easement fulfils. <br />The options provided are: <br />1. Outlot C — Not Credit Eligible — Matches Existing Parks and Trail Plan and Park Development <br />Policy — Staff can continue to support this alternative, as it is believed that Capstone will develop the <br />mini -park as proposed without Park Dedication credit, thus serving their development, and accordingly <br />not impact the City's General Fund budget operational cost for park maintenance. However, if the mini - <br />park is owned by the homeowner's association, the public may be excluded. There can be a tangible <br />benefit to a "recreational node" alongside the future Lake Itasca Greenway. <br />a. $0 credit <br />b. 0 & M impacts begin 2+ years (for lake Itasca park) <br />c. Lake Itasca Park (development initiated in 1-5 years) <br />a. Parking lot (and potential one -leg of round -a -bout) <br />b. Canoe/Kayak kiosk <br />c. Pier with seating at lake (existing CIP project) <br />d. Playground Equipment <br />e. Pavilion <br />f. Athletic Fields (future) <br />g. Other <br />d. Splash Pad and Park Improvements in The COR (development 2-5 years) <br />e. Lake Itasca Greenway Improvements — east of Puma Street (2-5 years) <br />