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§ 9.50.30 SubdivLsion. Design Standards <br /> <br /> f. To be eligible for park dedication credit, any land to be dedicated <br /> as as requirement of this Section shall be useable, developable <br /> land for use for park and recreation purposes and shall be at a <br /> location convenient to the people to be served. <br /> <br /> Subd. 6. Cash payment. In lieu of land dedication, the City Council <br />may require the subdivider to contribute a cash payment. The value of such <br />payment shall be either the greater amount established by a specified contribution <br />per dwelling unit or a percent of fair market value of the undeveloped land <br />commensurate with the percent of land which otherwise would have been required <br />under §9.50.37 Subd. 2 and §9.50.37 Subd. 3 of this chapter. "Fair Market Value", <br />for purposes of this subdivision, shall be determined as of the time of filing the final <br />plat in accordance with the following: <br /> <br /> a. The City Park and Recreation Commission and subdivider may <br /> agree upon a recommendation to the City Council as to the fair <br /> market value. <br /> <br />bo <br /> <br />The City Council after reviewing the Park and Recreation <br />Commission's recommendation, may agree with the subdivider <br />as to the fair market value. If agreement is not reached in this <br />manner, then fair market value shall be determined in <br />accordance with the following: <br /> <br />The fair market value as determined by the City Council <br />based upon appraisals, accepted purchase agreements, <br />comparable market transactions or other pertinent records <br />as determined by the City Council. <br /> <br />The cash contribution per dwelling unit, effective upon the effective date of this <br />ordinance shall be in accordance with the following schedule: <br /> Housing Type Cash Contribution Per Residential <br /> <br /> Dwelling Unit <br />Single Family Rural Densities <1 $350.00/dwellingunit <br />unit/3.3 acres <br /> <br />All Other Dwelling Units $500.00/dwelling unit <br /> <br />The City Council, upon review and recommendation of the Park and Recreation <br />Commission shall annually determine by resolution the park and dedication fee <br />per residential unit. <br /> <br />If, at the option of the City Council it is determined that a cash dedication shall be <br />made, said cash shall be placed in a special fund for Parks and Recreation use and <br />deposited by the developer v~ith the City prior to final plat approval. <br /> <br /> Sub& 7. Combination of land dedication and cash payment. In <br />appropriate plats, a combination of land and cash may be required by the City <br />Council. In the event a combination of land and cash is required, the amount of <br />]and to be dedicated shall be credited against the total Park dedication requirement <br /> <br />Page 542 <br /> <br />Printed 12/28/90 <br /> <br /> <br />