The current Allen Parks, Recreation and Open Space Master Plan identifies areas where neighborhood park service levels can be improved by determining the proximity of residential development to the nearest neighborhood park. Typically, neighborhoods are best served by being within 1/2-mile of the nearest park. Staff identified the Ridgeview Crossing area near the new Jenny Preston Elementary School as being an area where the appropriate level of service does not, and would not exist unless action is taken to procure property for the provision of a neighborhood park in close proximity to the school.
Staff negotiated with the developer to secure a neighborhood park within the Ridgeview Crossing development through an arrangement wherein the Developer will sell 2.3 acres of park land to the city for this purpose and will pay for the design and construction of park improvements. The City will pay $525,000 for the land, and will credit certain park dedication and tree mitigation fees in exchange for the developer building the park improvements.
The Ridgeview Crossing subdivision is to be developed in phases, Phase 1a and 1b, and Phase 2a and 2b. This Agreement for Purchase requires that the developer complete the construction of the neighborhood park concurrently with the construction of infrastructure of Phase 1b.
The developer proposes to sell the 2.3 acre park tract to the city for $525,000. The tract shall remain in the developer's ownership until all park improvements are completed and accepted by City staff. Completion of the park is anticipated in the Spring of 2019.
The balance of value related to park construction as compared to credit against park dedication fees and tree mitigation fees is:
Park Construction Cost: $ 518,964 (Architect's Cost Estimate Attached)
Park Dedication: $ 168,990 (262 d.u. x $645)
Tree Mitigation: $ 261,800 (1,309 caliper inches x $200)
Total Credit: $ 430,790
Balance of value: $ 88,174 (positive, City of Allen)