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Subd. 4. Land Acceptability. At the City's option,the following properties shall not be accepted for purposes of the owner's compliance with subdivisions 1. or 2. of this section: (1) Land dedicated or obtained as easements for storm water retention, drainage, roadway,and other utility purposes; (2) Land which is unusable or of limited use; and (3) Land that is protected wetlands/flood plain areas. Subd. 5. Cash Contributions. Cash contributions, for single-family residential development, will be due and payable at the time of final plat approval by the City. Cash contributions for multi-family residential development will be due and payable at the time of building permit issuance. The applicant will execute a document in a form satisfactory to the City Attorney which acknowledges the obligation to pay park dedication fees at the time building permits are secured. Such documents will be in recordable form and any fee charged in connection with the filing thereof shall be paid by the applicant. Cash contributions for single-family residential developments will be based on the number of new developments lots created and for multi-family residential developments will be based on the number of units included in the complex. Subd. 6. Park Fund. Any cash contribution received pursuant to Subd. 2 of this section, shall be placed in a separate City fund and used only for park, playground,trail, or opens space purposes. These fees shall be paid at the time as the issuance of the building permits. Where lot splits occur or subdivision of property with existing residential dwelling units already in place,no park dedication fee shall be required for existing dwelling units. Section 2. This ordinance shall be in effect as of the date of its publication. First Reading: May 25, 1999 Second Reading: Adopted: Mayor ATTEST: City Clerk Publish: St. Anthony Bulletin