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ORDINANCE oo - 07 <br />CITY OF ELK RIVER <br /> <br />AN ORDINANCE OF THE CITY OF ELK RIVER A1VIEN'DING <br />SECTION 1008.18 OF THE CITY CODE OF ORDINANCES <br /> <br />CASE NO. OA 00-1 <br /> <br />The City Council of the City of Elk River dOes hereby ordain as follows: <br /> <br /> Section 1. Section 1008.18 of the City of Elk River Code of Ordinances <br />shall be amended to read as follows: <br /> <br />In every plat, replat or subdivision of land to be developed for <br />residential, commercial, or industrial uses, or as a planned unit <br />development which includes such uses or any combination thereof, <br />i,_t is reasonable ~o recruire that an amount of land equal in value <br />to ten percent. I10%) of the undeveloped land proposed to be <br />~u~l~i~ed shall be set aside and dedicated-by the tra~t- owner or <br />owners to the City for parks, playgrounds, trails, or public open <br />space. <br /> <br />If the City Council, in its sole discretion, determines that <br />the land proposed to be dedicated is unsuitable for parks, <br />then the tract owner or owners shall contribute to the City, <br />in lieu of park land dedication, an amount of cash not to <br />exceed the fair market value of the undeveloped land <br />required to be dedicated, as the City Council shall <br />determine by resolution from time to time. <br /> <br />Previously platted Residential Property on which park <br />dedication has not been received by the City, being <br />replatted with the same number of lots and the same number <br />of dwelling unitS, shall be exempt from all park land <br />dedication requirements. If the number of lots or the <br />number of dwelling units is increased, then park dedication <br />shall be made based on the number of additional lots or the <br />number of additional dwelling units. <br /> <br />Prior platted Commercial and Industrial land on which park <br />dedication has not been received by the City, being <br />replatted with the same land area, shall be exempt from all <br />park dedication requirements. If land area is being added <br />to a previously recorded plat, then additional park <br />dedication requirements shall be based on the additional <br />land being added. <br /> <br />Any monies paid to the .City in lieu of park dedication shall <br />be placed in a special fund and used only for the <br />acquisition cf land for parks, plavgrounds, trails, public <br />open space; for the development of such areas and sites; and <br />for debt retirement in connection with land previously <br />acquired or developed for such public purposes. Any monies <br />specifically paid to the City for trails shall be used only <br />for the acquisition of land for trails and for the <br />development of such land. <br /> <br />For purposes of this Ordinance, "fair market value of the <br />undeveloped land" is defined as the fair market value of the <br />land within such plat, replat, or subdivision as of the date <br /> <br /> <br />