6.2. SR 01-16-2007
City of Elk River
REQUEST FOR COUNCIL ACTION
Agenda Section Meeting Date
Administration 16, 2007
Item Description
2007 Parks Dedication Bud et
Item Number
6.2.
Prepared by
Bill Maertz, Parks and Recreation Director
Reviewed by
Lori ohnson, Ci Administrator
Introduction
In December 2006, the Park and Recreation Commission reviewed potential projects and acquisitions.
The Park and Recreation Commission voted to recommend the following items for the 2007 park
dedication budget:
· Purchase 18 acres of the Malmstrom property on CR 77
· Purchase 7.8 acres of Elk River Country Club property adjacent to the Great Northern Trail
Discussion
The Malmstrom property has been a highly ranked park target since the fIrst park system master plan was
completed.
1. Potential for centrally located, active recreation facilities.
2. Creates east entrance to Woodland Trails Park for neighborhoods south and east of Woodland
Trails Park.
3. Will serve as a buffer zone between the Ridgewood neighborhood and future land uses to the
north.
Golf Course Property - The Park Commission and staff have held discussions with members of the Elk
River Country Club board regarding the purchase of wooded property adjacent to Woodland Trails Park
and The Great Northern Trail. At the December 2006 Park Commission meeting the Commission voted
to recommend the purchase of 7.8 acres as a buffer along the trail in case the Country Club sells the
wooded property to a developer. This would align with the buffer obtained from the Woodland Hills
subdivision.
Due to the limited amount of funds available in 2007 staff recommends that only the Malmstrom
property be purchased at this time. Income from park dedication fees is projected to be gready reduced in
2007.
This the fIrst time the Malmstrom property has been for sale. The family has indicated that they would
like to see it as a park but that they do have an alternative buyer. Staff believes that of the two properties
the timing on the Malmstrom property is the more critical.
Financial Impact
Appraised value of the 18 acre Malmstrom property was $27,500 per acre, for a total of $495,000. Factors
influencing the value of this property include the mineral resources beneath it and the access to CR 77.
Malmstroms have indicated that they would be willing to receive three installments of $165,000 over the
next three years.
C: \Documents and Settings \ tallard\Local Settings \ Temporary Internet Files \ OLKF\Request Council Action 6 l.doc
Appraised value of the 7.8 acres of golf course property at $22,500 per acre for a total of 175,500
Park Dedication Fund Balance
Last DNR Grant reimbursement payment
Balance due on downtown park
Installment payment on Alba Ridge Park
Retained from 2006 Park projects
Funds available in 2007
$ 761,422
40,000
(396,000)
(78,000)
(69,514)
$ 257,908
Attachments
· Malmstrom property location
· Malmstrom property park concept
· Golf course property
· Park system and trail master plan excerpt
· Park dedication revenue forecast
Action Requested
Authorize purchase of the 18 acre Malmstrom property for $495,000. With payments of $165,000 in
2007,2008 and 2009. Evaluate mid-year as to whether upcoming park dedication fees will be adequate to
fund a purchase of the golf course property.
Council Action
Motion by _
Second by _
Vote
Follow Up
C: \Documents and Settings \ tallard\Local Settings \ Temporary Internet Files \ OLKF\Request Council Action 6 I.doc
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