06/04/1990 Park Board Packet - Laserfiche WebLink

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F. The City, upon consideration of the parting?ter type of development, may req=e larger or lesser parcels of ].and to be dedicated if the City deteimines that present or future ras'id r&s wwld requiregates or lesser land for park and p3.aygxrxud per. in addition, tbp- City C==il may also requires lots within the subdivision be held in escrow for fixture sale or developoent. The moseys derived from the sale of es=owed lots will be ussi to develop yr to purcbase park land in the fab=e. (Ord. 120, sec. 1,6-19-78) 1. 7n resie3 n-ia1 plats v6eie a land dedication is rewired, the following formula will be used to t irtQg-R!l ie the park land dedicaticn: - UN.ITS PER ACRE ralvn DIDICATICK P� 0 W 2-5 lot 2.5+ - 4 11% 4.+ - 6 13% 6.+ 8 M 8.-+- - 10 17% 10.+ 17-20% In vial or in1istrial plats where a lanai dedication is required the follow fb=wla w3-U be used to d tP*^mnxi the park lard de dic ticn. lot of the gig area of land beincj platted. J. In lieu of a park land donation the City may require the following cash dmaticns: Single tw ly dwelling units $550.00 per dwelling unit fit=fg++i 3 y dwelling units $550.00 per dwelling unit Cacme*cil / ib&mtrsai $2,500.00 per acre in lieu of a trail land dcnzation, the City may reC nxe the follaaing cash dcmtion for the -abonsive mint'- pedestrian trail. For each dwelting unit $150.00 K. 'Ze City may eleot to receive a c®bittion of cash, land and develop- ment of the land for park use- The fair market value of the I nd the City wants and the value of the development of the land shaL1 be calcu- lated. That amourrt shall be fram the cash Q required d by stAsec-t,o J above. Ma shall be ttie cash cx'axi- butic n �Yt. L- "Fair market value" shall be dete=Tea as , the time of f;?i*x the p 3 imiriary plat in ac=rdance witth the follaaing: I. The City and the developer may agree as to the fair market value, or 2. The fair market value may be based upon a current appraisal submit- r1 tz- to the City by the subdivider at the subdivider's expense. The ;sal shall be made by a;pz i rs who are aancved mEmbers of the r MAI, or equivalent real estate appraisal societies.