Laserfiche WebLink
Ci o San ~ adro 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 pazkland 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 snot-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 $600,000 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 ~q