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<br />. <br /> <br />. <br /> <br />. <br /> <br />City of Arden Hills <br /> <br />Chapter II Subdivisions <br /> <br />D. Cash in lieu of dedication. In lieu of the dedication of land for <br /> <br />recreational and conservation purposes, the City Council may require <br /> <br />the developer to pay to the City, as an equivalent contribution, an <br /> <br />amount in cash equal to the percentage of the land required to be <br /> <br />dedicated, multiplied by the fair market value of the property at the time <br /> <br />of final approval of the development application. The fair market value <br /> <br />of the property shall be determined by reference to current appraisal <br /> <br />data or sales information. When appraisal data is utilized, the developer <br /> <br />shall reimburse the City for the cost of the appraisal prior to the <br /> <br />issuance of any development permits. <br /> <br />II - 37 <br />Public Hearing Draft <br />