02/09/2009 Council Packet - Laserfiche WebLink

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• 55 (c) The amount of cash to be contributed in combination with land is the cash -in -lieu balance, which shall be calculated with the following formula: (cash -in -lieu total) - (value of land dedication) = cash -in -lieu balance (a) At the time of subdivision, a yield plan shall be prepared demonstrating the total number of lots possible within the development (without a park). This figure shall then be multiplied by the residential equal to the total cash value of the park dedication for the subdivision. The formula is outlined as follows: 1. Buildable Acres (less wetlands, right of way, waterbodics and the like,) x Average Density — Number of Lots. 2. Number of Lots x Residential Unit Cash Charge — Total Cash Contribution for the Subdivision. (b) Land Value Determination. The value of the land dedication is determined based upon the be used: (c) To determine the combined land and cash dedication requirement. the following formula shall Total Cash Contribution for Subdivision Land Value for Park Land — Balance of Cash Contribution (1211) Planned Unit Developments with mixed land uses shall make cash and/or land contributions in accordance with this section based upon the percentage of land devoted to the various uses. (4:312) plat -Cash dedications shall be included in the development agreement and paid prior to the city's signature of and release of the final plat. For subdivisions that do not require a development agreement, the cash dedication shall be paid before the city releases the signed approval of the subdivision for recording. (-1-413) Cash contributions for parks and trails shall be deposited in either the city's park fund or multi - purpose trail fund and shall only be used for park acquisition or development, and trail acquisition or development as determined by the city. (1514) Property being replatted re subdivided with the same number of lots and same number of dwelling units shall be exempt from all park land dedication requirements. If the number of lots or the number of dwelling units is increased, or if land outside of the previously recorded plat is added, then the park land dedication and/or park cash contributions shall be based on the additional lots and on the additional land being added to the plat. DRAFT JANUARY 26, 2009