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Page 6 of 21 playgrounds, trails, wetlands, or open space, in such portions to be approved and acceptable to the City. For a subdivision that results in new dwelling units in excess of eight units per acre, Section 1130.08 of the Subdivision Ordinance permits the City to require the Applicants to dedicate up to twenty percent of the buildable land area in the subdivision or a cash contribution in lieu of land dedication may be required at the discretion of the City at the time the final plat is approved. The cash payment shall be determined based on the fair market of the land that would otherwise be dedicated to the City. In 2024, Ramsey County assigned an estimated market value of $22 million to the Subject Property prior to the subdivision. State Statutes require the City to use the value of the property prior to development when determining park dedication requirements. The Applicant is not proposing land dedication as part of the final plat beyond the standard right-of-way and easements requirements. The Planning Commission should discuss and put forth a recommendation of the City’s discretion for payment in lieu of land dedication for the 10.74 acres as Lot 1, Block 1. B. Park Development The City’s Subdivision Code establishes requirements for Public Use Dedications and Park, trails, and open space land dedication and development. Owners or developers, as a prerequisite to approval of a subdivision to convey to the City or dedicate to the public use a reasonable portion of any such proposal for public use as streets, roads, sewers, electric, gas, and water facilities, storm water drainage and holding areas or ponds and similar utilities and improvements, parks, recreational facilities, playgrounds, trails, wetlands, or open space, in such portions to be approved and acceptable to the City. The Applicant proposed to meet park dedication requirements by a payment of cash-in-lieu of land. In residential subdivisions where a park development fee is required, the City shall apply the fee on a per unit basis. The park development fee is established by ordinance on a regular basis. The per unit fee is currently $6,500.00. The Applicant is proposing the development of a 119-unit building for a park dedication fee of $773,500.00. Chapter 13, Zoning Regulations Review 1. District Provisions (R-4 Multiple Dwelling District) – Section 1320 Trident Development – Lot 1, Block 1 Proposed 10.74 acres Under the 2040 Comprehensive Plan, this site is guided as High Density Residential (HDR) on the land use plan and the applicant has previously requested a rezoning to R-4. Direction 2040 Comp. Plan Land Use Zoning Existing Land Uses North TRC RMU – Retail Mixed Use TRC NR-3 – Residential TRC NR-4 – Residential POS – Parks and Open Space CD – Conservation TRC RMU – Retail Mixed Use TRC NR-3 – Residential TRC NR-4 – Residential POS – Parks and Open Space CD – Conservation R-1 – Single Family Residential House of Worship Vacant South POS - Park & Open Space POS – Parks and Open Space Park East PI – Public and Institutional LDR - Low Density Residential R-1 – Single Family Residential Single Family Dwellings