Laserfiche WebLink
4 <br />184087 <br />acquisition and development or improvement of parks, recreational facilities, <br />playgrounds, trails, wetlands, or open space. <br /> <br />5. Fair Market Value. Fair market value shall be determined as of the time of filing the <br />Final Plat in accordance with the following: <br />(i) The City and developer may agree as to the fair market value; or <br />(ii) The fair market value may be based upon a current appraisal submitted to the <br />City by the subdivider at the subdivider’s expense. The appraisal shall be made <br />by an appraiser who is an approved member of the SREA or MAI, or equivalent <br />real estate appraisal societies. <br />(iii) If the City disputes such appraisal, the City may, at the subdivider’s expense, <br />obtain an appraisal of the property by a qualified real estate appraiser, which <br />appraisal shall be conclusive evidence of the fair market value of the land. <br /> <br />6. Property being subdivided without an increase in the number of lots shall be exempt <br />from park dedication requirements if similar requirements were satisfied in <br />conjunction with an earlier subdivision. If the number of lots is increased, then the <br />dedication shall be based on the additional lots created. <br /> <br />7. Any land required to be dedicated for park, trails, or open space purposes as defined <br />in this section shall be conveyed to the City prior to the City’s release of the Final <br />Plat for filing. <br /> <br />8. Cash contributions for land dedication or park improvements are to be calculated at <br />the time of the Final Plat approval. The City may require the payment at the time of <br />the Final Plat approval or at a later time under terms agreed upon in the development <br />agreement. Delayed payment shall include interest at a rate set by the City. <br /> <br /> SECTION 2. This Ordinance shall be effective immediately upon its passage and <br />publication according to law. <br /> <br /> PASSED and ADOPTED this _____ day of _______________, 20__, by the City <br />Council of the City of Arden Hills, Minnesota. <br /> <br /> CITY OF ARDEN HILLS <br /> <br /> <br /> By _______________________________ <br /> David Grant, Mayor <br /> <br />ATTEST: <br /> <br />_____________________________ <br />Amy Dietl, City Clerk <br /> <br />