HomeMy WebLinkAboutAGENDA REPORT 2003 0416 CC REG ITEM 10GMOORPARK CITY COUNCIL
AGENDA REPORT
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TO: The Honorable City Council
FROM: Mary K. Lindley, Director of Community Services
DATE: April 7, 2003 (CC Meeting of April 16, 2003)
SUBJECT: Consider Reduction of the Parkland Dedication
Fees for the Affordable Unit in Tract Map No.
5181 (TR Partners)
DISCUSSION
The Council is being asked to approve the in -lieu parkland
development fee for the one affordable unit in Tract Map
No. 5181, TR Partners. Tract Map No. 5181 is an infill
project consisting of eight single family units, one of
which is required to be provided to a family at or below
80° of median income. Similar to the formula applied to
Cabrillo Economic Development's project, staff proposes
setting the parkland dedication fee for the affordable unit
at sixty percent (60%) of the market unit rate.
The City's adopted method of calculating parkland
dedication fees for market rate units is using fair market
appraisal value of the property plus an additional twenty
percent for improvements. This calculation works out to be
$7,336 per unit for Tract Map No. 5181. As proposed, the
affordable unit would be $4,402 (60° of market rate). Total
parkland dedication fees for this project would be $55,754.
In conformance with the City park improvement fund policy,
sixty percent of the collected fee would be utilized in
Zone the project is located in (Zone 1 - downtown) and the
remaining forty percent would be utilized in the Community -
wide Zone which contains Arroyo Vista Community Park.
STAFF RECOMMENDATION
Set the parkland dedication fee for the Tract Map No. 5181
affordable unit at sixty percent (600) of the market rate
units.
M: \ML_nd1ey \PARKS \ -ract Map 5181 gsimby fees.doc 000076