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<br />. <br /> <br />. <br /> <br />. <br /> <br />ORDINANCE 87-1 <br /> <br />AN ORDINANCE AMENDING SECTION 1008.18 - DEDICATION OF <br />LAND OR CONTRIBUTION OF CASH FOR PUBLIC PURPOSE <br /> <br />The City Council of the City of Elk River does ordain as follows: <br /> <br />Section 1. That Section 1008.18 <br />Ordinances titled, "Dedication of Land <br />Purpose" be amended to read as follows: <br /> <br />of the City f Elk River Code of <br />or Contribution of Cash for Public <br /> <br />In every plat, replat, or subdivision of land to be developed for <br />residential, commercial, industrial, or other use, or as a planned <br />development which includes residential, commercial and industrial uses, <br />or any combination thereof, or multiple principal structures on a lot <br />permitted pursuant to Section 900.20, as a general rule, it is reasonable <br />to require that an amount of land equal in value to ten percent (10%) of <br />the undeveloped land proposed to be subdivided shall be set aside and <br />dedicated by the tract owner or owners to the general public as open space <br />for parks, playgrounds, public open space, or storm water holding areas <br />or ponds; or, at the option of the City, the tract owner or owners shall <br />contribute to the City an amount of cash equal to the fair market value <br />of the undeveloped land otherwise required to be so set aside and <br />dedicated, or set aside and dedicate a part of such land and contribute <br />the balance of such undeveloped land value in cash. The City Council <br />shall determine the amount to be required by resolution from time to <br />time. Any monies so paid to the City shall be placed in a special fund <br />and used only for the acquisition of land for parks, playgrounds, public <br />open space, and storm water holding ponds; development of existing parks <br />and playground sites, public open spaces and storm water holding areas or <br />ponds, and debt retirement in connection with land previously acquired <br />for such public purpose. For purposes of this Ordinance, "fair market <br />value of the undeveloped land" is defined as the fair market value of <br />the land within such plat, replat, or subdivision as of the date the <br />plat, replat, or subdivision is presented to the City Council for <br />approval of the final plat, as determined by the City Assessor in the <br />same manner as he determines the fair market value of land for tax <br />purposes. <br /> <br />Section 2. That the Ordinance shall take effect and be in full force <br />from and after the date of its publication. <br /> <br />Passed and adopted this 12th day of January, 1987. <br /> <br />{1r;Lll /4~{~J? <br /> <br />Estelle Gunkel, Mayor <br /> <br />ATTEST: <br /> <br />~j' J? ~p~ <br /> <br />Patrick D. Klaers, ity Administrator <br />