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<br /> If such residential subdivision is in excess of ~
<br /> 30 acres, the subdivider may, at his option and in lieu
<br /> of the dedication of land for parks and playgrounds
<br /> required in the first paragraph hereof, pay to the '
<br /> Village, as an equivalent contribution, an amount in
<br /> cash equal to the product of the percentage of land '
<br /> required to be dedicated multiplied by the undeveloped
<br /> land value of the tract to be subdivided. If such
<br /> resident.ial subdivision is 30 acres or less, the Village
<br /> Council may, at its option and in lieu of the dedication
<br /> of land for parks and playgrounds required hereinabove,
<br /> require t'le subdivider to pay to the Village, as an
<br /> equivalent contribution, an amount in cash equal to the
<br /> product of the percentage of land required to be dedi-
<br /> cated mult_iplied by the undeveloped land value of the
<br /> tract to be subdivided.
<br /> "Undeveloped land value", as used herein, shall be
<br /> the market value of the subject land at the time of the
<br /> application, to be determined by the Council in its
<br /> reasonabZe discretion. As a basis for its decision,
<br /> the Council may request an appraisal at the expense of
<br /> the appIicant which shall be in additian to the appraisal
<br /> required under Section 6 hereof, as amended. Such
<br /> additi.ondlappraisal shall be obtained if the Council deems
<br /> it advisable, from an appraiser selected by the Council.
<br /> Thereafter the Council, with the aid of both appraisals,
<br /> shall determine the "undeveloped land •,~.a]ue" hereunder.
<br /> All cash payments received by the Village pursuant
<br /> hereto sha11 be placed in a special. fund and used by the
<br /> Villaae on1X for ?:he acquisition of_ land for parks and
<br /> playgrou s, c3evPl;)pment of existinq park and alaygraund
<br /> sites, debt retirement in connection with land
<br /> previcus y acquired for par}: s anci x. ? ayqr:;ur
<br /> where a proposed park cr playground s-,own in the
<br /> Comprehensive Plan or Parks Plan is 1r,;:a r,~.l iln whale or
<br /> in part within a proposed subdivis,c,-., ~,uch area shall
<br /> bF designate(i as =u;,h upon the pre? b.*- _nary plat and may
<br /> be rPquureci t:-.: b(, included in the ~nF_;icated lanu of the
<br /> subdivision a, provided herei.naL~'~_,.
<br /> Section 3. Ef'f.-wr_zve Date. o),-_Ji.r;anc.e shall ~.e in
<br /> effectfraF anc? a~E: t e:fa±.e~c~f l t~~ russaye and publication.
<br /> Dated at Arden Hills, Minnesot_a, t.his say of,-~2x"a.4
<br /> 1973. i
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<br /> ~nry ~ r peau, r.
<br /> May a~ t e Village_ of
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<br /> Attest:
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<br /> C ar otte McNies
<br /> Acti ng C ierk-Adn;i nis trator
<br /> Vi 11 aae of Ardr~n Hi lls
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<br /> ~x,;_ . . , , . . .
<br /> -.,W,%. ..'..:.94,A..MLi•."Y,.,lit.~~, Je+ 'W_-.Y" .a' ~
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