HomeMy WebLinkAboutCity Council Resolution 2002-025CITY OF PLYMOUTH
RESOLUTION 2002-025
SETTING PARK DEDICATION CASH -IN -LIEU OF LAND FEE FOR
"REGENT AT PLYMOUTH", THE PLYMOUTH CONTINUING CARE COMMUNITY
IN THE PLYMOUTH MARKETPLACE PUD, LOCATED AT THE NORTHWEST
QUADRANT OF VICKSBURG LANE AND HIGHWAY 55 (2001024)
WHEREAS, The Hartford Group, Inc. has requested reduction of the park dedication cash -in -lieu
of land fee for property legally described as follows:
Lot 1, Block 1, Plymouth Marketplace, Hennepin County, Minnesota.
WHEREAS, the project consists a combined 120 unit multifamily rental housing and health care
facility with approximately 68 independent living units, 28 assisted living units and 24 memory
care units;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY
OF PLYMOUTH, MINNESOTA, that it should and hereby does set the park dedication fee to be
paid for the above described project at $192,000, based on the following findings:
1. Residents of the 24 memory -care units will have little or no impact on the City's park system.
2. Residents of the assisted living units may also place less demand on the City's park system
than would seniors living in independent living units.
3. Timing considerations with the tax exempt bonds and FHA financing of this project made it
impossible for the developer to pay the park dedication fees in 2001 as had originally been
anticipated.
4. Increasing the fee to the 2002 rate at this time would jeopardize the financing of the project
and its contribution to meeting the City's goals for life cycle and affordable housing.
ADOPTED by the City Council on January 8, 2002.
Resolution 2002-025
(2001024)
Page 2
STATE OF MINNESOTA)
COUNTY OF HENNEPIN) SS.
The undersigned, being the duly qualified and appointed City Clerk of the City of Plymouth,
Minnesota, certifies that I compared the foregoing resolution adopted at a meeting of the
Plymouth City Council on January 8, 2002 with the original thereof on file in my office, and the
same is a correct transcription thereof.
WITNESS my hand officially as such City Clerk and the Corporate seal of the City this
day of
City Clerk