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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 Hew <br /> -density 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 t3arcel(q1 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 /> • <br /> ATTEST: <br /> Mayor Duane McCarty <br /> (SEAL) <br /> Chuck Whiting, City Administrator <br /> i <br /> 8=130624 <br /> MII125-47 <br /> E/E 30ttd OIEBLEEZIS'aI N3AK2[0 '8 AQ3NN37{'WO2[3 SO' CI L6-0E-d3S <br />