Title
Discuss and consider action on providing recommendation regarding Cielo South parkland dedication.
Summary
Cielo South
Site Acreage: 21.455
Proposed Units: not to exceed 408 units total (19.02 UPA = 2 pph)
Total Parkland Required: (6.6 x 408 units) x 2 = 5385.60/1000 = 5.39 acres
Fee-in-Lieu: 5.39 acres x $43,560/acre = $234,788.40 (posted as cash)
Total Park Improvement Fee: $670 x 408 units = $273,360.00 (posted as bond until improvements are complete and accepted)
The developer of the apartment development is proposing to dedicate a 30’ wide by 1000’ long “parkland” easement where they’d use this space to build a trail along the eastern boundary (see attached PDF). While this wouldn’t completely satisfy the parkland dedication or improvement requirements; it would create a trailhead point to the south and open the possibility of negotiation with the City of Austin (southern property owner) for a continuation of the trail to the east through the pond area and tie into the sidewalk system across from Caldwell Elementary along Fitzgerald Lane.
Deadline for Action
Action must be taken at this Commission meeting.
Fiscal Impact
N/A
Staff Recommendation
Staff is recommending acceptance of the proposal and a recommendation to the Planning & Zoning Commission.