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HomeMy WebLinkAbout1990-08-20; City Council; 890-8; Zone 8/Park Issue updatePARKS & RECREATION COMMISSION - AGENDA BILL AB# #to~& MTG. ft|aD|^O DEPT. P*-R TITLE: ZONE 8 / PARK ISSUE UPDATE ( INFO) DEPT. HD. CITY ATTY CITY MGR. CO 'S ou RECOMMENDED ACTION: At this time, this item is for information only. Staff will return to the Commission with further updates as additional information is obtained. ITEM EXPLANATION; During last month's Commission meeting, as part of the Northwest Quadrant Park Issue Report, the recommendation was made to direct staff to continue investigations relating to the potential for the purchase of land adjacent to Agua Hedionda Lagoon (Zone 8) for park purposes. The following excerpt from the City Council Agenda Bill regarding the Zone 8 Park Issue is attached for your review. Staff will give a verbal update regarding this issue. FISCAL IMPACT; None at this time. EXHIBITS; 1. Excerpt from City Council Agenda Bill "Northwest Quadrant Park Enhancement Report" 33 PAGE 6, AB #. Property on North side of Aqua Hedionda Lagoon (approx. 11 acres) An additional recommendation which was approved after the presentation, discussion and public comment of the subcommittees final report to the Commission was for staff to investigate the possibility of acquiring land on the north side of Agua Hedionda Lagoon, adjacent to Park and Neblina Drive. The purpose of the acquisition was to provide a public park area on one of the last remaining undeveloped sections of property on the north side of the Lagoon. Although the subcommittees report did not recommend this site for acquisition or development for several reasons, the Commission directed staff to further investigate acquisition for park development potential. The subject property is approximately 11 acres in size, is located within Local Facility Management Plan (LFMP) Zone eight (8), and is currently zoned RMH-1 (Residential Medium High Density 8-15 DU/AC). Preliminary staff investigation includes review of LFMP, Zone 8 & 24 to consider the park requirements for development within each zone. In essence, each zone has been conditioned to pay Park-In-Lieu fees for their park dedication requirements. The park dedication requirement for Zone 8, based upon a projected buildout population of 3,027, is 9.08 acres of parkland or $789,960 in P.I.L. revenue (based on the current fee schedule). The requirement for Zone 24 based on a buildout population of 1,093, is 3.28 acres or $285,360 in P.I.L. revenue. The combined total for both Zones would be 12.32 acres or a P.I.L. revenue of $1,071,840. In addition, Zone 8 is required to secure financing for the improvement and operating expense for 6.7 acres of parkland, and Zone 24 is to provide the same for 2.1 acres of parkland. If it is the Councils direction to further pursue the acquisition and development potential of this subject parcel, staff will evaluate the acquisition and development possibilities and return to the City Council for further direction. FISCAL IMPACT; The present balance in the P.I.L. fund for the Northwest Quadrant is $1.2 million. The fund is expected to receive an additional $2.6 million between now and buildout based on current P.I.L. fee schedules. If the Council wishes to fund projects requiring more than $3.8 million for acquisition of land, some form of alternate financing will have to be made available. Although Council may consider the use of General Funds, Mello- Roos Districts, General Obligation Bonds or other forms of benefit districts, each of these will require some form of voter approval before it can be implemented (General funds are limited by Code Section 1.24 - Proposition H). If Council wishes to use P.I.L. funds to purchase land before these funds would otherwise become available (accelerate the C.I.P.), some form of inter fund loan will be required. Staff will review these options identified if Council directs staff to pursue the projects described above. The Maintenance and Operation costs identified in each specific project would become a General Fund Obligation and would be requested during the fiscal year in which the project comes on line. FVHTRIT EXHIBITS; 34 1. Northwest Quadrant Park Enhancement Report