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League Of 480 Cedar St.. Paul, Minnesota LiLit_5 v ., ...a.,., b.M.• — — Street Z Munlci.pality _A�,OZw, Lt�4_ MN. 55101 Date ZhiA7 Subject (official Pa►licattoo) ORDINANCE NO.91 .AN ORDINANCE TO AMEND THE MUNICIPAL CODE OF THE CITY OF MINNETRtSTA !Y AMENDING -ORDINANCE NO. K REGARDING 'ARK DEDICATION FEE - The City Council of the nutty of kfianetrista ordains: Section 1., Ordinance NO. f. ffecUoo 02.SOD, Subdivision 3. Is hereby amended to read ss follows: Subdivision S. Casb Coatrlbotion is Lka of Lauds. in those Instance$ .There a cash contribution Is to be Rude by the subdivider In lieu of a conveyance or dedication of land for the above pubic purposes, the Zoning Administrator ai recommend to the City Council the amount of cash be n iag Administrator e so contributed. wfeels hich recommen- dation shall be based upon the fair market value of the equivalent Un- developed land that would otherwise have been conveyed or "sated. Section 2., Ordinance No. 92. Sec- tion 92.$W. Subdivision S. is hereby amended to read as follows: Subdivision 6. Fair Market Wine of or ppuurposes of this ordinsom shds. -Fair Market Value," f all be the undeveloped land value to be determined as of the time of pre. liminary plat application in ac- curdonce with the following: (I) The Zoni I Administrator council as shall recwmmend to the the fair market value, after consulta- tion with the subdivider. (2) The City Council after review- ing the Zoning Administrator's rec- ommendatioa. may agree with the Zoning Administrator or the Sub- divider, as to the Fair Market Value. It agreement is not reached in this matter. then the fair. market value shall be detemined in accordance with one of the following: (a) Fair market value as de- termined by the City Council based upon current appraisal(O submitted to the City by the sub- divider at his expense. The ap- praisal(:) shall be made by up- Cralsers who are approved mem- era of SREA or MAI. or equivalent real estate societies. (b) If the City disputes such appraisal amounts, it may obtain appraisal of the property by a qualified real estate appraiser whom the City Council selects and, which appraisal may be me- eeptcd by the City as being an accurate orMst Is Ir market val". The costsof the appraisal shall be paid by the subdivider - (3) De♦ersataetl" of Fair Market Voice. The determinatlan Of latr market value of the undeveloped land by the Zoning Administrator, City Council. or designated a pralstrs shall be determined as of the time of preliminary plat application as long as there is final plat approval within the time limits as act forth in the Subdivision Ordinance. The time of reliminary plat approval is Utilised mmouse the nature ofoto subi seissona • Its probably, poplot other relevant actors are known. It as extension on the time limits of the j Subdivision be dethe fair ermined as ofthe ion Ordinance is approved by - val;theue CshCouncil.r 'talus Lime of the approval of that tx- tension. In determinlag the fair mar- i kett vsluee as of Ume of preliminary plat extension thereof. the factorsQto bye fsclud+d In the analysis shalt include any and all factors which are generally accepted .'and used by aI roved members of &REA or YAor equivalent 'nal estate appraisal societies.. Section 2.. This ordinance shall be : published is the "Lake Minnetonka i Sun Newspaper." and shall be ei(eC- Uve Immediately. ' ' Passed by the City Council of the City of Minoctrista this Itch day of J uyune I979, by a role of SAyes JON EHR1dAN Mayor ATTEST' r ;� is t• � t �. z *Yi �r } n w : • 4 :� , t ryi st 1