City Council Meeting Date: October 6, 2020
To: Mayor and City Council
City Administrator
From: David E. Bennett, Public Work Director/City Engineer
Title
Consider Resolution Releasing Outstanding Park Land Dedication Fees for Outlot F Southbridge 1st Addition.
Body
Action Requested:
The Northfield City Council approves the attached Resolution releasing outstanding park land dedication fees for Outlot F Southbridge 1st Addition.
Summary Report:
On October 6, 2003, the City entered into a development agreement contract with Arcon Development Inc. for the development of Southbridge 1st addition. This was the first addition of a multiple phase project that would develop the 69.9 acre Southbridge preliminary plat in the SE corner of the City.
As part of the development agreement contract with Arcon Development Inc., the Developer was required to dedicate parkland in the amount of 6.05 acres for the entire 69.9 acre preliminary plat and the developer dedicated 9.98 acres to the City as summarized below.
Parcels Dedicated to City (Acres)
Southbridge 1st Outlot B 6.25
Southbridge 1st Outlot C 0.72
Southbridge 1st Outlot D 2.21
Southbridge 1st Outlot E 0.75
Spring Creek Townhome (Outlot C) 0.05
Total Land Dedicated (Acres) 9.98
In addition, the development agreement contract with the developer was required to pay a park dedication fee in the amount of $80,918.75 for the entire 316-unit 69.9 acre preliminary plat and the developer was required to pay $26,750.00 park dedication fee for Southbridge 1st addition and the remaining $54,168.75 with future final plats or all paid within five years.
As a result of the housing market crash in 2007 and corresponding recession in 2007 and 2008, the developer went out of business and no longer owns the land. The City has received $28,292.78 of the park dedication fees along with the full land dedication. In 2010, the park development fee was removed from the Land Development Code and since 2010 there have been ...
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