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n <br />,1-N <br />,•*%, <br />CHANGE PARAGRAPH 3 TO READ: <br />Paragraph 3. For residential, commercial, and industrial <br />development the following land dedication will apply: <br />Density in Units/Acre <br />0 <br />to <br />3 <br />3 <br />to <br />5 <br />5 <br />to <br />7 <br />7 <br />to <br />9 <br />10 or <br />more <br />Percentage of Land Dedication <br />10% <br />12% <br />14% <br />16% <br />18% <br />Land site selection is to be approved by the park board. <br />The city may choose to accept an ecjuivalent amount in cash <br />from applicant based on the following formula: <br />Land Cost/Acre <br />(510-,000/minimum acre) X (Density Factor % x Subd. acreage) <br />Number of tots in Subdivision <br />Park Dedication/Lot <br />Paragraph 4. The park board may accept any combination of <br />land and mon, not to exceed the dedication requirements. <br />Paagraph 5.: Minor subdivisions, as defined by ordinance, <br />will be required to follow the Land Dedication Density Table <br />listed in the ordinance, or $500.00 per building site, at the <br />decision of the park board. <br />