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-2- Subd. 4. Land Not Credited. At the City's option, the following types of land shall not be credited for the requirements of this Section: (1) Land dedicated or obtained as easements for storm water retention, drainage, roadway, or utility purposes; (2) Land which is unusable or of limited use; and (3) Land that is protected wetlands/flood plain. 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 amounts due under Subd. 2 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. 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 open space purposes. Subd. 7. In the case of subdivision of property with existing residential dwelling units already in place where no new units will be added, no land dedication or cash contribution shall be required. Section 2. Section 615.07 is amended by adding a new item No. 22 to read as follows: Fee No. Code No. Purpose Amount 22 1500.12 Park contribution Single family lot $750/unit Duplex lot $650/unit Townhouse Development $500/unit Mobile Home $500/unit Multiple family , apartment, $350%unit or condominium Section 3. This ordinance shall be in effect as of the date of its publication.