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Attachment B 1 EXTRACT OF MINUTES OF MEETING OF THE 2 CITY COUNCIL OF THE CITY OF ROSEVILLE 3 4 Pursuant to due call and notice thereof, a regular meeting of the City Council of the City 5 of Roseville, County of Ramsey, State of Minnesota, was held on the day of 6 , 2011 at 6:00 p.m. 7 8 The following members were present: 9 10 11 The following members were absent: 12 13 14 Council Member introduced the following resolution and moved its 15 adoption: 16 17 RESOLUTION NO. 18 A RESOLUTION ESTABLISHING A PROCEDURE FOR DETERMINING FAIR 19 MARKET VALUE OF PROPERTY FOR CASH PAYMENT IN LIEU OF PARK 20 DEDICATION 21 22 WHEREAS, the City Council has previously adopted City Code Section 1103.07 which 23 provides for payment of cash in lieu of dedication of land for use as a park in all zones in the 24 City where park land dedication is deemed inappropriate by the Park and Recreation 25 Commission, the sum of which shall be reviewed and determined annually by the City Council 26 by resolution; and 27 28 WHEREAS, pursuant to City Code Section 314.051 the City Council has established that 29 park dedication in non-residential areas is to be based upon the fair market value of the property; 30 and 31 32 WHEREAS, the City Council desires to establish a procedure for determining the fair 33 market value of property to be used in determining the fair market value of land for the purposes 34 of Park Dedication Fees; 35 36 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY 37 OF ROSEVILLE, MINNESOTA: 38 39 1. That the "fair market value" of the land for which payment in lieu of park land 40 dedication is to be made pursuant to Sections 1103.07 and 314.051 of the Roseville 41 City Code shall be equal to the Estimated Market Value of such land as most recently 42 determined by the Ramsey County Assessor to the date of the approval of the plat or 43 subdivision. 44