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<br />changes to the Development Ordinance. These changes are based on the Cedar Hill <br />model for fee determination (see the attached "Worksheet for Park Development Fees"). <br />These options would allow a developer to choose the most advantageous method of <br />payment, based on land availability, cost, and other fadors: <br /> <br />1. Developer meets land dedication requirements (1 acre per 93 dwelling <br />units), and cash ($318 per dwelling unit) for park development. The City <br />would take the revenues generated and use to develop the park, and <br />accept the cost of future maintenance and improvements as needed. <br /> <br />2. Developer meets land dedication requirements (1 acre per 63 dwelling <br />units), and constructs the neighborhood park per City standards) in lieu of <br />a park development fee. In this case, the City would receive no revenue <br />and would accept the future maintenance costs of the property as City <br />property. <br /> <br />3. Developer provides cash for acquisition ($490 per dwelling unit) and <br />development ($318 per dwelling unit), for a total of $808 per dwelling unit. <br />The City would then purchase and develop the park and accept future <br />maintenance costs entailed. <br /> <br />Summary <br /> <br />The proposal should meet our current needs but does not provide for future increases in <br />land and development costs. This proposal represents a very large increase (from $175 <br />to $808 per dwelling unit) for area developers wanting to develop land in the city. In <br />addition, staff is recommending that infill units within existing communities such as old <br />La Porte also be required to pay the park development fee to assist in upgrading and <br />refurbishing existing parks and potential new parks in these established neighborhoods. <br />Staff recommendation is to establish a review process on a three year cyde to pick up <br />inflationary or deflationary changes in the land market or cost of development. I will be <br />happy to answer any questions you may have regarding these issues. <br /> <br />Attachments <br /> <br />Page 3 of 3 <br />