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<br />-, . <br /> <br />'" <br /> <br />. # , <br /> <br />. <br /> <br />ORDINANCE NO. 79-5 <br /> <br />AN ORDINANCE REQUIRING DEDICATION OF LAND OR CONTRIBUTION OF CASH FOR PUBLIC PURPOSES. <br /> <br />The City Council of the City of Elk River does ordain as follows: <br /> <br />Section 1. <br /> <br />It is hereby found and declared that, as a general rule, it is rea- <br />sonable to require, in every plat, rep1at, or subdivision of land to <br />be developed for residential, commercial, industrial, or other uses, <br />or as a planned development which includes residential, commercial <br />and industrial uses, an amount of land equal in value to ten percent <br />of the undeveloped land proposed to be subdivided, be set aside and <br />dedicated by the tract owner or owners to the general public as open <br />space for parks, p1aygounds, public open space, or storm water holding <br />areas or ponds. As an alternative, at the option of the City, the tract <br />owner or owners shall contribute to the City an amount of cash equal to <br />the fair market value of the undeveloped land otherwise required to be <br />so set aside and dedicated, or set aside and dedicate a part of such <br />land and contribute the balance of such undeveloped land value in cash. <br />Any monies so paid to the City shall be placed in a special fund and <br />used only for the acquisition of land for parks, playgrounds, public <br />open space, and storm water holding areas or ponds, development of <br />existing parks and p1ayground,s:i.tes, public open space, and storm water <br />holding areas or ponds and debt retirement in connection with land <br />previously acquired for such public purposes. For purposes of this <br />ordinance, "fair market value of the undeveloped land" is defined <br />as the fair market value of the land within such plat, rep1at, or <br />subdivision is presented to the City Council for final approval, as <br />determined by the City Assessor in the same manner as he determines <br />the fair market value of land for tax purposes. <br /> <br />Section 2. This ordinance shall apply to all plats, rep1ats or subdivisions of land <br />otherwise within its terms which have not received final plat approval <br />from the City Council as of the effective date of this ordinance. <br /> <br />. <br /> <br />Section 3. This ordinance shall be in full force and effect upon its passage and <br />publication and, when effective, shall be filed with the office of the <br />Register of Deeds, Sherburne County, Minnesota~ <br /> <br />Passed and adopted this I'~ay of hr;~ ( <br /> <br />ATTEST; <br /> <br />, 1979. <br /> <br />~U?t ~ /;!$~_ <br /> <br />F'r - a sen, lla;yor <br /> <br />.4C.~~ <br />Robert C. Middaugh, City 'nistrator <br />