At the City Council's sole discretion, a cash contribution may be accepted in whole or in part for the required land dedication under this chapter. The park land dedication fee guidelines shall be determined by the City Council on an individualized basis pursuant to City Code § 152.090(C) and M.S. § 462.358, subdivision 2b(c). The amounts included in the city's fee schedule in City Code § 35.03 are for use as a general guideline.
(A) Mixed use developments. Cash contributions shall be based on the amount of land and number of units designated to residential use and the amount of land designated to non-residential uses.
(B) Timing of payment. Cash contributions shall be paid prior to the release of the final plat or subdivision approval.
(C) Use of payments. Cash payments received under this section shall be placed in a special fund to be used only for the acquisition and development or improvement of parks, recreational facilities, playgrounds, trails, wetlands or public open space based on the city's approved park systems plan.
(D) Determining the amount of a cash contribution or combination cash and land contribution. In the event the contribution is cash or a combination of cash and land, the city will first determine the total land dedication required pursuant to the basis analysis described in City Code § 152.090(C), and then convert that total land dedication to its fair market value pursuant to M.S. § 462.358, subdivision 2b(c). Once the total conversion from land to cash is determined, the fair market value of the land actually dedicated, if any, shall be subtracted and the remainder shall be the amount due in cash.
(Ord. 707, passed 5-23-2022)