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HomeMy WebLinkAbout7.b. Rosewood Commons Apartment Complex � ROSEMO EXECUTIVE SUMMARY PARKS AND RECREATION COMMISSION Parks and Recreation Commission Meeting: September 26, 2016 AGENDA ITEM: Rosewood Commons Apartment AGENDA SECTION: Complex New Business PREPARED BY: Dan Schultz, Parks and Recreation AGENDA NO. Director 7 b. ATTACHMENTS: Location Map and Site Plan APPROVED BY: dls RECOMMENDED ACTION: Motion to recommend the City collect cash in lieu of land (232 x 3,400 = $788,800) for the parks dedication requirements for the Rosewood Commons project in the amount of$788,800. ISSUE KJ Walk Incorporated has submitted plans to build 232 apartment units (78 two bedroom units and 154 one bedroom units) on approxixnately 12.24 acxes of land as identified on the location ma,p in the packet The project site is located just east of Brazil Avenue,south of Rosemount Storage and west of Eldoxado Packaging.The site pla,n is included in the packet foY your review. The Parks Master Plan does not call for a park in this axea so staff is recommending the City collect cash in-lieu of land to meet the parks dedication xequirements for the 232 units. The parks dedication requirement for 232 residential units is .04 acres per unit or$3,400 per unit. Sta.ff is recommending that we collect cash in-lieu of land to meet the parks dedication requiYements. The cash dedication for 232 units would be $788,800 (232 units x$3,400 per unit). SUMMARY Sta.ff is recommending that we collect cash in-lieu of land to meet the parks dedication requirements for the Rosewood Commons project in the amount of 788,800 (232 units x$3,400 per unit). 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