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RESOLUTION 95 -- <br />RESOLUTION FOR THE CITY OF ELK RIVER <br />A RESOLUTION AMENDING THE PARK DEDICATION FEE <br />FOR ALL RESIDENTIAL DWELLING UNITS <br />AND COMMERCIAL DEVELOPMENT <br />WHEREAS, the City Council of the City of Elk River in Ordinance 87-1 <br />established that the City Council can require a fixed fee to be <br />paid for Park Dedication purposes and that this fee shall be set <br />by resolution of the City Council; and, <br />WHEREAS, the Elk River City Council has received and reviewed a <br />recommendation from the Elk River Park and Recreation <br />Commission that recommends that this Park Dedication Fee be <br />increased per residential and multi -family dwelling unit based <br />on the need for additional funds to provide recreation <br />opportunities and based on the increased land value in the City <br />of Elk River; and, <br />WHEREAS, the Elk River Park and Recreation Commission recommends <br />the Park Dedication Fee requirements for commercial property <br />be increased based on the increased land value in the City of <br />Elk River; and, <br />WHEREAS, the adoption of this resolution adjusts the Park Dedication Fee <br />for all residential dwelling units that was adopted in <br />Resolution 92-122. <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Elk River that Park Dedication Fees paid to the City in lieu of <br />10% of the undeveloped land shall be set at: <br />Residential: <br />$600/lot or dwelling unit effective 1/1/96 <br />$700/lot or dwelling unit effective 1/1/97 <br />Commercial: <br />$2,000 per acre effective 1/1/96 <br />Passed and adopted by the City Council of the City of Elk River this 18th day <br />of December, 1995. <br />s:doc entxesolution.pa kdeO <br />