City Council Minutes 1992 06 16 - Laserfiche WebLink

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accept "cash in lieu of" and then if the later land comes in, if there could be an agreement that the City would return the "cash in lieu of", with the dedication be taken on the larger site when it did become annexed? Susan Griffiths, City Attorney, stated that they might be able to do that through the annexation agreement itself and treat that payment, in some fashion, as part of the larger annexation agreement. Mayer: Franklin: Is there something we could do to the current PUD, that if the developer agreed, which would allow us to get the larger land dedication later on, if the City so desired? Susan, maybe I can contribute a perspective on it. We're doing a Subdivision Agreement for Filing No. 1 and public land use dedication has to be specified within that. Typically, we have escrows for various requirements like street widening and so on. Perhaps we could treat this in the subdivision agreement as an escrowed amount, have it guaranteed, and put some language in there regarding if land dedication is not consummated by such and such a date, we would proceed with the cash. Otherwise, exchange it for real land. Howard: How much cash are we talking about? Franklin stated that 3% of 12 acres is .36 acre at $20,000.00 per acre. We're talking maybe $60,000.00, off the top of my head, without an appraisal. Annette Brand, City Administrator, stated that just for the record it should be emphasized that John said "off the top of my head, without an appraisal". Hedding: Would the applicant consider developing this strictly as a park prior to the second part of this plan, where you will develop rest with residential and dedicate the entire area as a small park? 5