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<br />City of La Porte <br />Parks & Recreation Department <br />Estimate of Park Development costs <br /> <br />Typical 5 Acre Park (Park Master Plan identifies 2-10 acres as appropriate size for <br />Neighborhood Parks) <br /> <br />Land Cost: 5 acres at @ $45,738 per acre <br />(see attached appraisal for parkland prepared by R.e. Chuoke & Associates, Inc. dated June 2, <br />2005, value set at 1.05 per square foot) = $228,690 <br /> <br />Play Equipment and Park Service Equipment <br />(from Parks to Standard Program) <br /> <br />27,500. <br /> <br />Utility Service - General <br />Water - water tap, service lines, etc. <br />Sewer - sewer tap service lines, etc. <br />Electric plus security lights, installation, misc. <br />Site/drainage work for practice fields, etc. <br /> <br />15,000 <br /> <br />Parking Spaces (8 minimum per Master Plan) <br />8 spaces @ $4,000 ea. (Pond to Park est.) <br /> <br />32,000 <br /> <br />$3,000 <br /> <br />J60,000 <br />$366,190 <br />1 j ,000 <br />$377,190 <br /> <br />Practice Field Equipment <br /> <br />Pavilion (recommended by Parks Master Plan) <br />Estimated cost for 5 acre park <br />Plus desian fees CW 8 Dercent (subtract land cost= $137,500) <br />Total estimated cost for 5 acre park <br /> <br />Estimated cost per acre of developed park is: <br />$377,190 divided by 5 acres = <br /> <br />$75,438 per acre <br /> <br />Estimated cost per new La Porte family to provide new parkland per acre is: <br />$75,438 divided by 93.26 dwelling units per acre = $808 per dwelling unit <br /> <br />Land Acquisition portion per dwelling unit is .6063 of total cost per dwelling unit, or: <br />$808 multiplied by .6063 = $489.89 ($490, rounded to nearest dollar) <br /> <br />Park Development portion per dwelling unit is total cost per dwelling unit, minus Land <br />Acquisition portion, or: <br />$808 minus $490 = $318 per dwelling unit <br />