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/he to the public for public use as parks, playgrounds, public open space or storm <br /> water holding areas or ponds, ten percent (10%) of the land of the proposed <br /> subdivision or, at the option of the Municipality, an equivalent of cash equal to <br /> ten percent (10%) of the market value of the land at the time of the subdivision. <br /> Section 3. Section 1204.02, subd. 6 is amended to read: <br /> Subd. 6. Dedication for Re-Subdivision: For any subdivision of a parcel on which a <br /> cash dedication for parks has previously been made but on which an additional cash <br /> dedication is required due to re-subdivision, the amount of cash dedication required on <br /> the re-subdivided parcel(s) to be developed for residential uses shall be based on the sew <br /> g et c dcwity market value of the land at the time of re-subdivision based on the schedule <br /> set forth in subdivision 4 of this section less any applicable credit for the prior cash <br /> dedication. The amount of cash dedication required on the re-subdivided parcels) to be <br /> developed for commercial or industrial uses shall be based on ten percent (10%) of the <br /> market value of the land at the time of re-subdivision less any applicable credit for the <br /> prior cash dedication. (1988 Code §42.13) <br /> Section 4. This ordinance takes effect thirty days after its publication. <br /> Adopted this day of , 1997 <br /> 1410 <br /> Al i ST: <br /> Mayor Duane McCarty <br /> (SEAL) <br /> Chuck Whiting, City Administrator <br /> • <br /> 2C 530624 <br /> :1025-47 <br />