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Ciro of San Leandro Park Impact Fee Study <br /> Comprehensive Update <br /> More thorough documentation reviews and updates should be undertaken if there is evidence of <br /> significant changes in demographic assumptions or future facilities planning. It is recommended <br /> that a comprehensive update be conducted once every five to seven years. <br /> COMPARISON OF PARK IMPACT FEE AND CURRENT <br /> CITY FEE IN -LIEU OF PARKLAND DEDICATION <br /> The City's Municipal Code currently requires parkland dedication or the payment of a fee in -lieu <br /> of parkland dedication. Comparison of the park impact fee developed herein with the City's <br /> current park in -lieu fee requirements indicates that adoption of the park impact fee would <br /> generate greater park impact fee revenues to the City than would current requirements. <br /> Estimated fee revenue under both current requirements and the park impact fee requirements <br /> calculated herein are presented for hypothetical residential developments in Table 7. As shown, <br /> the park impact fee would generate higher fee revenues than the current requirements, for all of <br /> the cases presented in the table. This would be the case generally. As shown, the difference in <br /> revenues between fee requirements decreases somewhat as home sales price increases, because <br /> the current park in -lieu fee is capped at a not -to- exceed amount that depends on home sales price <br /> (a not -to- exceed limit on the in -lieu fee of 0.75 percent of sales price). Calculating current in- <br /> lieu fee payments as a function of sales price, it is possible to calculate fee revenue for high - <br /> priced homes (those around 5600,000 and above) that would exceed revenue from the newly <br /> developed park impact fee. However, as home prices increase, the density of development <br /> decreases and the park in -lieu fee under current requirements would be determined by the value <br /> of the land required for park dedication rather than the not -to- exceed limit. As this occurs, it <br /> appears that the newly developed park impact fee would still generate higher revenue than the <br /> current requirement or would result in relatively similar revenue. <br /> Hausrath Economics Group 13 <br /> • <br />