Mansions/PP-CS 970724Date:
LEISURE SERVICES DEPARTMENT
July 24, 1997
To:
From:
Subject:
Park Board and City Council
Gary D. Sims, Director~
10.85 Acres of Denton Creek Potential Parkland
The Leisure Services Department has been in negotiations with the
property owners of the new housing subdivision "The Mansions by
the Lake" There are 10.85 acres of land that is available for
park land. This tract be acquired as part of the developer's
park development fees. The Developer will owe $422,765.00 in
park development fees. He is prepared to sell this property for
$236,275. This amount includes street access, extension.of the
street to the property and the developers loss of residential
lots caused by access (see the attached description of costs).
The Park and Recreation Board has toured this site and the
general consensus was favorable to pursue this property if
possible. Staff recommends the highest and best use for this
property would be for park and recreational uses. It is in the
flood plain, and would be extremely difficult and expensive to be
developed for residential or commercial uses. We have requested
the developer to include this site in his FEMA flood plain study
and to include several park amenities (picnic pavilion,
playground equipment, basketball court, and sand volleyball
courts) in the flood plain study model.
Additionally, this site is located on the Hike and Bike
Masterplan for the Denton Creek Trail. This site could be
extremely useful addition to the park inventory for a community
park, serving not only adjacent residents, it would have city
wide appeal should it be developed to also serve large functions
such as family reunions, parties, company picnics, etc.
Should this offer be accepted, the city would still collect
$186,490.00 in remaining park development fees, which could be
used as matching funds for grant applications or placed in the
Park Development Zone for other applications.
If this property is not acquired prior to final platting of this
subdivision, there will not be an opportunity for vehicular
access. Staff recommends the purchase of this property.
C: \memos \mansions.
Sheet1
THE MANSIONS BY THE LAKE - COPPELL DEVELOPMENT
CITY PARK COST ANALYSIS & LAND USE CHANGE
REVISED JULY 17, 1997
DESCRIPTION OF COST
1. 10.85 Acres of Land for the park ~ $11,500 per acre
2. Pro-rata cost of Hydrologist, application to FEMA, survey, engr.
$124,775
$4,000
MULTI-FAMILY COST
$128,775
1. Cul-de-sac lot with Lake view lost due to thru road
I lot less development cost
Premium on the lot
2. Cul-de-sac lot with LAKE VIEW lost due to reconfiguration
I lot premium for lake
3. True cul-de-sac lots lost due to reconfiguration
4 lots ~} $12,000 each ~ 50% of lost value
(see provisions)
4. Lot value lost due to thru street
3 lots ~ $5,000 (see provisions)
5. Additional cost of grading, concrete street, and curb
Approx. 110 foot extension
6. Extension road installed for Leisure Services
Developer will not make this improvement
SINGLE-FAMILY COST
$28,000
$20,0OO
$10,500
$o
$1o?,soo
TOTAL COST TO THE CITY
PROVISIONS OF THE AGREEMENT
(~1. The City agrees to have limited hours on the park
I,.2. The City agrees that upon the completion of park, it will be gated
3. Fees are due as follows:
50% due at normal due date
50% due at first C.O. date or no later than June 15, 1998
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