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<br />e <br /> <br />RESOLUTION 95 -87 <br /> <br />RESOLUTION AMENDING THE PARK DEDICATION FEE FOR <br />RESIDENTIAL AND COMMERCIAL DEVELOPMENT <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />e <br /> <br />the City Council of the City of Elk River, in Ordinance <br />87-1, established that a development fee may be paid <br />for Park Dedication purposes and that this fee shall be <br />set by resolution of the City Council; and, <br /> <br />the City Council has received and reviewed a <br />recommendation from the Elk River Park and Recreation <br />Commission that the Park Dedication Fees be increased, <br />due to the increased need for recreational opportunities <br />which increased development causes; increasing land <br />values in the City of Elk River; and the increasing costs <br />of providing recreational opportunities in the City of <br />Elk River; and, <br /> <br />the adoption of this resolution adjusts the Park <br />Dedication Fees adopted in Resolution 92-122. <br /> <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 <br />lieu of 10% of the undeveloped land shall be set at: <br /> <br />Residential: <br />$550110t or dwelling unit effective 1/1/96 <br />$600110t or dwelling unit effective 1/1/97 <br />$650110t or dwelling unit effective 1/1/98 <br /> <br />Commercial: <br />$1,750 per acre effective 1/1/96 <br />$2,000 per acre effective 1/1/97 <br /> <br />Passed and adopted by the City Council of the City of Elk River this 18th day <br />of Decembel', 1995. <br /> <br /> <br />e <br /> <br /> <br />andra A. Thackeray, City Cler ~ <br />