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City of Arden Hills Chapter 11 - Subdivisions <br /> <br /> <br /> <br /> <br /> 11 - 8 <br />Adopted August 12, 2002 <br />(i) The City and developer may agree as to the fair market value; or <br /> <br />(ii) The fair market value may be based upon a current appraisal <br /> submitted to the City by the subdivider at the subdivider’s <br /> expense. The appraisal shall be made by an appraiser who is an <br /> approved member of the SREA or MAI, or equivalent real <br /> estate appraisal societies. <br />(iii) If the City disputes such appraisal, the City may, at the <br />subdivider’s expense, obtain an appraisal of the property by a <br />qualified real estate appraiser, which appraisal shall be <br />conclusive evidence of the fair market value of the land. <br /> <br />6. Property being subdivided without an increase in the number of lots <br />shall be exempt from park dedication requirements if similar <br />requirements were satisfied in conjunction with an earlier subdivision. <br />If the number of lots is increased, then the dedication shall be based <br />on the additional lots created. <br /> <br />7. Any land required to be dedicated for park, trails, or open space <br />purposes as defined in this section shall be conveyed to the City prior <br />to the City’s release of the Final Plat for filing. <br /> <br />8. Cash contributions for land dedication or park improvements are to <br />be calculated at the time of the Final Plat approval. The City may <br />require the payment at the time of the Final Plat approval or at a later <br />time under terms agreed upon in the development agreement. <br />Delayed payment shall include interest at a rate set by the City. <br />