6.7.C. SR 03-15-1993
ITEM 6.7.C
TO: MAYOR AND CITY COUNCIL
FROM: STEPHEN ROHLF, B & Z ADMINISTRATOR
DATE: MARCH 8, 1993 51<
SUBJECT: RAW LAND VALUE CREDITED FOR PARK
DEDICATION
During final plat review of the plat of Heritage Landing, the
issue of how to credit land dedicated for park against park
dedication fees was raised. Staff is recommending the
documented purchase price of property be used to determine the
raw (undeveloped) land value. This will work in most cases
unless there is something out of the ordinary involved, such as
a land swap.
.
In the case of Heritage Landing, the developer paid $3,500 an
acre plus the trunk assessment of $3,771.50 per acre. Staff
considers the purchase price of the raw land included in
Heritage Landing be the previous 2 figures combined, or
$7,271.50 per acre. Staff recommends Heritage Landing be given
a credit of $5,342~00 for the approximately 3/4 of an acre of
land to be dedicated as trail to the City. This should not be
considered a forgiveness of assessments, rather, staff feels it
is legitimate that the trunk assessment placed on this land
raises the raw lanQ value by at least the equivalent dollar
amount.
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720 Dodge Avenue N.W., Elk River, Minnesota 55330 (612) 441-7420
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She,."",."" County
ASSESSOII
TYRUS L. BISCHOFF, S.A.M.A.
I I- et'V\. (,."7 <:
March 15. 1993
Mr. Steve Rohlf
City of Elk River
Planning & Zoning
RE: Value of Kincannon Property
Dear Steve.
.
I am rendering an opinion relative to the value of the Kincannon property as per your
request.
We have completed an appraisal of the fair ground property in the same
neighborhood but with different zoning regulations covering part of that property.
Our opinion is that the incramental value captured by the availability of city sewer
and water is $3.900.00 per acre.
I would concur with you that the sales price of the land @ $3.500.00 per acre plus the
incramental value of $3.900.00 per acre totaling $7.400.00 per acre would be an
appropriate value for the taking of 3/4 acre by the city for their trail extension
.
,
T.L. Bischof
Sherburne County Assessor
S.A.M.A.
P. O. Box 320
Elk River. MN 55330
(612) 241-2860 0 1-800-433-5246
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1008.18 - DEDICATION OF LAND OR CONTRIBUTION OF CASH FOR
PUBLIC PURPOSE
In every platl replat, or subdivision of land to be developed
for residentiall commercial, industrial 1 or other use, or as a
planned development which includes residential, commercial and
industrial uses, or any combination thereof, or multiple
principal structures on a lot permitted pursuant to Section
900.201 as general rule, it is reasonable to require that an
amount of land equal in value to ten percent (10%) of the
undeveloped land proposed to be subdivided shall be set aside
and dedicated by the tract owner or owners to the general
public as open space for parks, playgrounds, public open spacel
or storm water holding areas or ponds; or, at the option of the
CitYI the tract owner or owners shall contribute to the City an
amount of cash equal to the fair market value of the
undeveloped land otherwise required to be so set aside and
dedicated, or set aside and dedicate a part of such land and
contribute the balance of such undeveloped land value in cash.
The City Council shall determine the amount to be required by
resolution from time to time. Any monies so paid to the City
shall be place in a special fund and used only for the
acquisition of land for parks, playgrounds, public open spacel
and storm water holding ponds; development of existing parks
and playground sites, public open spaces and storm water
holding area or ponds, and debt retirement in connection with
10.37
land ~reviously acquired for such public purpose. For purposes
,?f th~~ Ordinance, "fair market value of the undeveloped land"
~s def~ned as the fair market value of the land within such
plat, r~p~a~, o~ subdivision as of the date the plat, replatl
or SU~d~v~s~on ~s presented to the City Council for approval of
the f~nal plat, as determined by the City Assessor in the same
manner as he determines the fair market value of land for tax
purposes.
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