Laserfiche WebLink
Ordinance 01 -06, Park Dedication <br />page 3 <br />Subdivision 10. All land proposed for trail and/or bikeway dedication shall be <br />subject to the recommendations of the Park Board and approval of the City Council. <br />Subdivision 11. The City may elect at its sole discretion to receive a combination <br />of cash, land, and development of the land for park and/or trail use. Combined park land and <br />cash dedications shall be calculated based upon the following: <br />1. At the time of subdivision, a yield plan shall be prepared demonstrating the total number <br />of lots possible within the development (without a park). This figure shall then be <br />multiplied by the residential per unit park dedication charge (established by City Council <br />Resolution). The result of this calculation is equal to the total cash value of the park <br />dedication for the subdivision. The formula is outlined as follows: <br />a. Buildable Acres (less wetlands, right -of -way, waterbodies etc.,) x Average <br />Density = Number of Lots. <br />b. Number of Lots x Residential Unit Cash Charge = Total Cash Contribution for the <br />Subdivision. <br />2. Land Value Determination. The value of the land dedication is determined based upon <br />the following formula: <br />a. Total Land Dedication Acres x Land Value = Total Land Value <br />3. To determine the combined land and cash dedication requirement, the following formula <br />shall be used: <br />a. Total Cash Contribution for Subdivision — Land Value for Park Land = Balance <br />of Cash Contribution. <br />Subdivision 12. Planned unit developments with mixed land uses shall make cash <br />and/or land contributions in accordance with this Section based upon the percentage of land <br />devoted to the various uses. <br />Subdivision 13. Park cash contributions are to be calculated and established <br />based on land value at time of final plat. Cash dedications shall be included in the development <br />agreement and paid prior to the City's signature of and release of the final plat. For subdivisions <br />that do not require a development agreement, the cash dedication shall be paid before the City <br />releases the signed approval of the subdivision for recording. <br />• <br />