Agenda - Council - 07/11/1989 - Laserfiche WebLink

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170.067 The City Council after reviewing the Park and Recreation Commission's recommendation, may agree with the subdivider as to the fair market value. If agreement is not reached in this manner, then fair market value shall be determined in accordance with the following: The fair market value as determined by the City Council based upon appraisals, accepted purchase agreements, comparable market transactions or other pertinent records as determined by the City Council. The cash contribution per dwelling unit, effective upon the effective date of this ordinance shall be in accordance with the following schedule: HOUSING TYPE CASH CONTRIBUTION PER RESIDENTIAL D~LLING UNIT Single Family Rural Densities <1 unit/3.3 acres $350.00/dwe!ling unit Ail Other Dwelling Units $500.00/dwelling unit The City Council, upon review and recommendation of the Park and Recreation Commission shall annually determine by resolution the park and dedication fee per residential unit. If, at the option of the City Council it is determined that a cash dedication shall be made, said cash shall be placed in a special fund for Parks and Recreation use and deposited by the developer with the City prior to final plat approval. COMBINATION OF LAND DEDICATION AND CASH PAYME.~NT In appropriate plats, a combination of land and cash may be re.tufted by the City Council. In the event a combination of land and cash is re_cuffed, the amc-ant of land to be dedicated shall be credited against the total park dedication, requirement and the remaining cash contribution shall be based on the greater of the specified cash contribution per dwelling unit or the fair market value of the land. ~en dete~ining the cash contribution for the remaining acreage, the overall. density of the plat shall ba the basis for determining t~e potential number of dwel!ing units per acre.