12/23/1985 Council Minutes - Laserfiche WebLink

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236 COUNCIL MEETING December 23, 1985 Page Fifteen The City Council of the City of Lino Lakes ordains: Section 1. Property Dedication. Section 1001.14 of the Lino Lakes City Code is amended to read as follows: Section 1001.14. Property Dedication. The developer shall dedicate to the City a reasonable portion of the proposed subdivision for public streets, roads, utility easements, water facilities, storm 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; provided, however, that the City may require an equivalent amount in cash from the owner or developer for part or all of the portion required to be dedicated to the City, based on the fair market value of the land at the time of the final plat approval. All cash payments so received shall be placed in a special fund by the City to be used only for acquisition, betterment or debt retirement related to parks, playgrounds, trails and open spaces. The cash shall be determined by the open space, park, recreational or common area facilities which developer proposes to reserve and how much the City determines that it will need to reasonably satisfy the open space and park requirements of the sub- division, both within and additional pressures caused outside the subdivision by the developer. This equivalent shall be $160.00 per dwelling unit to be constructed within such proposed development or ten (10%) per cent of the fair mar- ket land value of the development, whichever is less. This fee is due and payable before the City Clerk and Mayor sign documents to be filed at the Anoka County Recorders Office. Section 2. Effective Date. This ordinance shall be effective thirty (30) days after its publication. Passed this /` day of ��, , 1986 by the Lino Lakes City Council. ATI'EST: 1!1 enjamin Benson, Mayor , Marilyn G. Anderson, Clerk- Treasurer