City Council Minutes 1994 01 04 - Laserfiche WebLink

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Les.ch: It's a 12% instead of 15%, but it also says cash-in-lieu of park dedication is requested. Lathrop wondered if Mr. Mayhoffer was in agreement with what was proposed in the 10' easement and asked Public Works to look into that. Sis, k stated that by foregoing the dedication, it creates another lot for the development. He wondered, as far as the cash-in-lieu of, if they were talking about a equivalent lot. If the lots sell for $60,000/lot, is that what is going to be paid to the City. Leach: We're talking about the value of the raw land, as it sets undeveloped. I don't think it's the value of a finished !lot. It is not a requirement to provide the 12% as land. If that was a requirement it would have been in the Annexation Agreement, instead it says they want cash-in-lieu of. I assume we would pay the City cash for the difference between th~ 9,000 or whatever square feet we're dedicating. Then, the City could use that money to acquire land of similar value in a raw state for a park. Griffiths, after reading the Annexation Agreement, stated that it provides that the dedication shall occur by payment of cash-in-lieu of property dedication equal to 12% of the value of the land, as set forth under the Louisville Municipal Code, Section 16.16.060. The Code section provides in part that the payment to the City must be in an amount equal to 12% of the total appraised value of the land to be subdivided. Any appraisal required to establish the va].ue of the land must be done at the expense of the subdivider. It does not apply to the Beaton Annexation property. S isk: As far as the outlot, it's your understanding, your proposal is, that the Homeowner's Association will be responsible for maintaining Outlot 17 Leach agreed. Hornbostel wondered how they would make it mandatory for the Homeowner's Association to take care of Outlot 1, because the City hadi had previous bad experiences. 7