06/01/1992 Park Board Packet - Laserfiche WebLink

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water drainage and holding areas or ponds and other similar utilities and improvements. In addition, the developer shall dedicate to the city land for public use as parks, playgrounds, trails or other open space. The criterion to be used by the city in determining the park needs is as follows: (1) Proposed development density and use. (2) Proximity of development to existing parks. (3) Open space within the development. (4) Future park needs per the comprehensive plan. Subdivision 1. For residential development the following formula shall apply: Density in Units/Acre Percentage of Land Dedication 0 to 3 10% 3 to 5 12% 5 to 7 14% 7 to 9 16% 9 or more 18% Land site selection is to be approved by the Park Board. The City may choose to accept an equivalent amount in cash from the applicant based on the following formula: Land Cost/Acre ($10 ,000/Min. ) x (Density Factor % x Subd. Acreage) = Park Dedicat- Number of Lots in Subdivision ion Per Unit OR (Park Dedication/Unit) x (No. of Units) = Park Dedication/Acre Number of Acres Subd. 2 . The Park Board may accept any combination of land and monies, not to exceed the dedication requirements. Subd. 3 . Minor subdivisions, as defined by ordinance, wil'1 be required to follow the Land Dedication Density Table listed in the ordinance, or $500 .00 per building site, at the decision of the Park Board. Subd. 4. For commercial or industrial development, the developer shall pay to the City $200.00 for each 1, 000 square feet .-� of proposed building for commercial or industrial use except those buildings used for warehousing, low labor intensive light manufacturing/assembly (one or less employee per 1, 000 s4tare feet of structure) and for other low labor intensive uses shall pay to 172