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water drainage and holding areas or ponds and other similar <br /> utilities and improvements. In addition, the developer shall <br /> dedicate to the city land for public use as parks, playgrounds, <br /> trails or other open space. <br /> The criterion to be used by the city in determining the park <br /> needs is as follows: <br /> (1) Proposed development density and use. <br /> (2) Proximity of development to existing parks. <br /> (3) Open space within the development. <br /> (4) Future park needs per the comprehensive plan. <br /> Subdivision 1. For residential development the following <br /> formula shall apply: <br /> Density in Units/Acre Percentage of Land Dedication <br /> 0 to 3 10% <br /> 3 to 5 12% <br /> 5 to 7 14% <br /> 7 to 9 16% <br /> 10 or more 18% <br /> Land site selection is to be approved by the Park Board. The City <br /> may choose to accept an equivalent amount in cash from the <br /> applicant based on the following formula: <br /> Land Cost/Acre <br /> ($10,000/Min. ) x (Density Factor % x Subd. Acreage) = Park Dedicat- <br /> Number of Lots in Subdivision ion Per Unit <br /> OR <br /> (Park Dedication/Unit) x (No. of Units) = Park Dedication/Acre <br /> Number of Acres <br /> Subd. 2. The Park Board may accept any combination of land <br /> and monies, not to exceed the dedication requirements. <br /> Subd. 3. Minor subdivisions, as defined by ordinance, wirl <br /> be required to follow the Land Dedication Density Table listed in <br /> the ordinance, or $500.00 per building site, at the decision of the <br /> Park Board. <br /> Subd. 4. For commercial or industrial development, the <br /> developer shall pay to the City $200.00 for each 1,000 square feet <br /> of proposed building for commercial or industrial use except those <br /> buildings used for warehousing, low labor intensive light <br /> manufacturing/assembly (one or less employee per 1,0oo s(i are feet <br /> of structure) and for other low labor intensive uses shall pay to <br /> 172 <br />