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go <br /> <br />Stage II Improvements Escrow. A cash deposit equal to one hundred <br />twenty-five percent (125%) of the City Engineer's estimated cost of the <br />Stage II improvements shall be deposited with the City Finance Department. <br /> <br />Requirements Waived. The Council, in its discretion, may waive the <br />foregoing requirements of this Section if all of the following conditions are <br />met: <br /> <br />The owner or subdivider must reside on the property being developed <br />and such property must have been classified for tax purpo ...... '-- <br />owner or subdivider's homestead. 9.50.50 <br /> <br />The division of the property must include the entire property, meet the <br />requirements of the Zoning Code for division of property and such <br />division must be achieved by an approved and recordable plat. <br /> <br />The individual parcels resulting from such a plat shall be for single <br />family residential use only and each such parcel shall be of such size, <br />configuration and topographical quality as to be capable of <br />accommodating a single family residential structure. <br /> <br />The individual parcels resulting from such a plat shall be no more than <br />five in number, including any parcel retained by the owner or <br />subdivider as his homestead. <br /> <br />The requirements of this Section relating to the subdividing of land <br />shall be applicable to any such division of lands and properties. <br /> <br />'6. <br /> <br />Lands and properties abutting land and property being so divided shall <br />themselves have previously been platted and divided, it being the <br />intent of the Council not to waive the requirements of this Section with <br />respect to land. <br /> <br />o <br /> <br />The estimated market value of each parcel as determined by the <br />Assessor following such division of land and property must exceed the <br />amount of special assessments previously levied and allocated to each <br />parcel, including the amount of assessments estimated to be levied <br />again in accordance with this Section by reason of such division of <br />land and property. <br /> <br />Su~d. 6. City Participation, Non-residential Developments <br /> <br />go <br /> <br />:Certain Improvements. The owner or subdivider, engaged in the <br />: development of lands and properties which are zoned Non-Residential may <br /> request City participation in the payment of the costs of the improvements <br /> as listed in 9:50.50 Subd. 2a 1 and 2. City participation shall be negotiated <br /> <br />9.50 Subdivision tlegulations <br /> <br /> i <br /> <br />9-43 <br /> <br />August 2003 Draft <br /> <br /> <br />