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. 1008.18 —DEDICATION OF LAND OR CONTRIBUTION OF CASH FOR PUBLIC <br /> PURPOSE <br /> 1. In every plat, replat or subdivision of land to be developed for residential, <br /> commercial, industrial, or as a planned unit development which includes such uses or <br /> any combination thereof, as general rule, it is reasonable to require that: <br /> a) An amount of land equal in value to ten percent(10%) of the <br /> undeveloped land proposed to be subdivided shall be set aside and <br /> dedicated by the tract owner or owners to the City as open space for <br /> parks,playgrounds,trails, or public open space. <br /> b) If the City Council, in its sole discretion, determines that the land <br /> proposed to be dedicated is unsuitable for parks,then the tract owner <br /> or owners shall contribute to the City, in lieu of park land dedication, <br /> an amount of cash not to exceed the fair market value of the <br /> undeveloped land required to be dedicated, as the City Council shall <br /> determine by resolution from time to time. <br /> c) Previously platted Residential Property on which park dedication has <br /> not been received by the City, being replatted with the same number of <br /> lots and same number of dwelling units, shall be exempt from all park <br /> • land dedication requirements. If the number of lots or the number of <br /> dwelling units is increased, or if land outside the previously recorded <br /> plat is added,then the park dedication shall be made based on the <br /> number of additional lots or the number of additional dwelling units, <br /> or on the additional land being added to the plat. <br /> d) Prior platted Commercial and Industrial land on which park dedication <br /> has not been received by the City, being replatted with the same land <br /> area shall be exempt from all park dedication requirements. If land <br /> area is being added to a previously recorded plat,then additional park <br /> dedication requirements shall be based on the additional land being <br /> added. <br /> 2. Any monies so paid to the City shall be placed in a special fund and used only <br /> for the acquisition of land for parks, playgrounds,trails,public open space and <br /> development of such areas and sites, and for debt retirement in connection <br /> with land previously acquired or developed for such public purposes. Any <br /> monies specifically paid to the City for trails shall be used only for the <br /> acquisition of land for trails and for the development of such land. <br /> For purposes of this Ordinance, "fair market value of the undeveloped land" is <br /> defined as the fair market value of the land within such plat, replat, or <br /> subdivision as of the date the plat, replat, or subdivision is presented to the <br /> Park Dedication Ordinance <br /> February 17,2000 Page 1 <br />