Title
MOTION TO APPROVE THE STELLAR PINES PLAT MUNICIPAL DEDICATION AGREEMENT IN THE AMOUNT OF $167,000.
(REGULAR AGENDA ITEM)
Summary Explanation and Background
1. Section 154.36 of the City Code requires that when a person proposes to develop or subdivide a parcel within the City, that 6% of land area to be platted be dedicated to the City for parks, playgrounds or municipal purposes. Municipal dedication agreements are typically approved during the platting process.
2. The code provides the developer with the ability to pay the City a sum equal to the value of the land in lieu of conveying the land. The developer is proposing to build townhome units on this property. Stellar Pines Plat (Proposed Resolution 2018-R-42) is being heard concurrently at tonight's meeting.
3. The developer and City have agreed to a municipal dedication value of $167,000 based on Code criteria.
4. Under the attached agreement, all funds shall be paid prior to the City issuing the first building permit for the property.
5. The proposed municipal dedication amends a previously approved municipal dedication on the property. The previous dedication was approved in 2007 and was tied to another developer and plat which was approved for commercial use. The applicant was never successful in recording the plat and no municipal dedication fees were collected.
6. Administration recommends approval of this muncipal dedication agreement.
Financial Impact
FINANCIAL IMPACT DETAIL:
Per the agreement the City will receive $167,000 in the account Municipal dedication fees.
Revenues will be budgeted in account #320-366035.