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F) That where such credit is granted, the amount of credit shall not exceed forty (40.0%) percent of the park <br />dedication requirements for the development. <br />5.4.7 The City of Gem Lake shall maintain a separate fund into which all cash contributions received in lieu of <br />conveyance or dedication of land for park and playground, public open space or trail purposes shall be deposited <br />and shall make, from time to time, appropriations from such fund for acquisition of land for park and playground <br />purposes, for developing existing park and playground sites, for public open space and trails, or for debt <br />retirement in connection with land previously acquired for parks and playgrounds which benefit the residents of <br />the City. <br />5.4.8 If a developer or subdivider is unwilling or unable to make a commitment to the City of Gem Lake as to <br />the type of buildings that will be constructed on lots in the proposed plat, then the land and cash requirement <br />will be a reasonable amount as determined by the City Council. <br />5.4.9 Wetlands, ponding areas and drainage ways accepted by the City of Gem Lake shall not be considered in <br />the park land and/or cash contribution to the City. <br />�'D <br />IR <br />