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development contract, or received by the City in Warranty Deed prior to the approval of the final plat,without further restrictions or reservations. On the Ground Analysis: The following will detail the differences between recent subdivisions using the above criteria for analysis. Keen Addition In the Keen Addition development, there were 6 new residential lots. The average number of people per household, according to the State Demographic Center, is 2.2 people. So, we can expect that there would be about 13 people living in that development. The amount of land required for dedication would be 0.2112 acres. The cash in lieu of land dedication (park dedication fee)amounts to $5491• 6 units x 2.2 people per household= 13.2 expected new residents 13.2 residents x o.o16 acres(per capita share) = 0.2112 acres 0.2112 acres x$26,000= $5,491 park dedication fee—OR— 13.2 residents x$410= $5,491 park dedication fee Total developer dedication actually paid= $3,210 Using this method with a land value of$26,000 rather than $32,000,without a land dedication the developer would pay $5491• The developer was actually charged $3,210 based on the current system of charging 1o%of the value of the land. Island Vista '1 The Island Vista development created seven(7)residential lots,with a total expected population of approximately 15 people. The amount of land required for park dedication would amount to 0.246 acres(1o,o62 square feet).The total park dedication fee,if no land were dedicated,would be$6,4o6. 7 units x 2.2 people per household= 15.4 expected new residents 15.4 residents x o.o16 acres(per capita share)= 0.246 acres 0.246 acres x$26,000= $6,4o6 park dedication fee—OR— 15.4 residents x$416= $6,4o6 park dedication fee Total developer dedication actually paid= $15,203 The City required that the developer pay 1o%of the value of the land prior to subdivision at the time of filing the final plat,which amounted to $15,203.In this case,total fee required was more than double what it would have been under the proposed changes. Wilderness Point Villas In the Wilderness Point Villas development,the developer created 46 residential lots. Based on the average number people per household, we can expect that there would be about 1o1 people in that development.The amount of land required for dedication would be 1.619 acres,with the cash in lieu of land dedication amounting to$42,099• 46 units x 2.2 people per household= 101.2 expected new residents 101.2 residents x o.o16 acres(per capita share)= 1.619 acres 1.619 acres x$26,000= $42,099 park dedication fee—OR— 101.2 residents x$416= $42,099 park dedication fee Total developer dedication actually paid= $23,000 The City had charged the developer$23,000,or$500 per new unit.The difference between the City of Pequot Lakes Staff Report 8-6 Apn1 i9,2007