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8.4.A. PRSR 12 08 2004Item # 8.4.A. rover MEMORANDUM TO: Bill Maertz, Director of~Parks and Recreation FROM: Michele McPhersaer,'Director of Planning DATE: December 8, 2004 SUBJECT: Park Dedication Revenues 2005 - 201 I As requested, I updated the Revenue Generation "Table fox the Park Dedication Capital Improvements Budget. Attached is the updated spreadsheet through 2011. The following items should be noted: 1. Residential per unit rates increase with a maximum of $5,500 in 2011. The average rate of increase annually is $600 based on the 2004-2005 increase. 2. The commercial per acre rate increases $1,500 per year to a maximum of $13,000 per acre in 2011. No change was made to the per acre rate for industrial properties. I then reviewed the City's base map and identified large developable parcels inside and outside of the Urban Service District It should be noted that north of County Road 33, the minimum lot size will change from 10 acres to 2 '/z acres in three phases; 2005 (July), 2008, and 2010. In all likelihood, property owners with large developable tracks ox those under contract will not develop until those dates. It should also be noted that outside of the Urban Service District, there is approximately 720 acres east of and parallel to Highway 169 that have a land use designation of Commercial Reserve. My assumption is that this will be developed in a commercial manner but will not begin unti12010 at the earliest Only 100 acres from this area was included in the spreadsheet 50 acres each in 2010 and 2011. Park dedication was also not calculated fox the gravel-mining portion of the City bounded by Highway 169 on the east, the railroad grade on the west, Top of the World and Brentwood on the south, and the south portion of the landfill on the north. There are three reasons park dedication rates were not calculated fox this area: 1) a poxdon of the dedication has previously been given in order to obtain parkland and additional may be given under the current negotiations with TIller Coxporafion, 2) a Focus Arca Study to identify specific future land uses in this area needs to be completed, and 3) it is unknown as to the rate at which the resource will be mined. At this time, staff believes a 50-year supply of gravel exists, however, the rate of production has increased ui recent years and this time frame may be shortened in the future. Park Dedication Revenues 2005-2010 Memo to the Parks and Recreation Commission December 6, 3004 Page 2 Parcels within the Urban Service District I identified five significant parcels within the Urban Service District which will develop in the future. Those properties axe owned by: Miske Turner Foster Buxandt, and Morrell. I assumed all land dedication fox Buxandt, as it is located north of Royal Valley Paxk, and land fox Miske which is currently under consideration (River Paxk). For Fostex's parcel, I anticipate a total number of units of 500 with a land and cash dedication split of 50 percent each. The above assumptions leave a total estimated number of lots in the Urban Service District at 450. These axe spread equally over the years 2008 - 2011. South of County Road 33 Outside of the Urban Service District I identified six significant parcels and assumed that these lots would develop at 2 '/z-acre lot minimums. This provides the minimum number of lots available per development site. Assuming that cluster developments axe pursued, the number of lots would increase based on density bonuses. For the Doebel farm located on the west edge of the City, I assumed a 40 percent land dedication, which leaves the total number of lots on these six parcels available fox cash at 261. These lots were evenly spread over the 2006 - 2009 timefxame. North of Counts Road 33 North of County Road 33, the density allowed changes in three phases, July 2005, January 2008, and January 2010. In 2005, the development potential could yield 95 lots. 'These were all placed in the 2006 timeframe. In 2008, the development potential yields 4801ots. These were evenly spread over the 2008 - 2011 timefxame. In 2010, the development potential yields 536 lots. One-fourth of these lots were placed in the 2010 and 2011 timefxame, leaving one-half of the lots to be placed in the 2012 and 2013 timefxame, which is beyond the scope of the attached spreadsheet. Fhe attached spreadsheet indicates a "best guess" scenario fox development. Obviously, the market will dictate the rate at which residential, commercial and industrial development occurs and therefore, the numbers of units and the total acreage that is available fox park dedication purposes. No land acquisition was assumed outside of the Urban Service District with the exception of 10 acres from the Doebel farm. Obviously, implementation of the Gxeenway Network with skew the attached spreadsheet, based on acquisition versus cash dedication. Obviously there is a lot of information and assumptions in this memo. If you have any questions, please let me know. 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