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Municode <br />Page 3 of 3 <br />approval is utilized because the nature of the subdivision, its probable <br />population, lot size and value, and other relevant factors are known. If an <br />extension of the time limits in this chapter is approved by the city council, the <br />fair market value shall be determined as of the time of the approval of that <br />extension. In determining the fair market value as of time of preliminary plat <br />application, or its extension, the factors to be included in the analysis shall <br />include any and all factors which are generally accepted and used by approved <br />members of SREA or MAI or equivalent real estate appraisal societies. <br />(6) Future subdivision. Any land which is further subdivided, divided or replatted or <br />applied for such subdivision, division or replatting subsequent to May 1, 1990, shall be <br />subject to the requirements of the ordinance then in effect concerning dedication of <br />land for public purposes; and credit shall be given for any charges previously imposed <br />upon that land if the subdivider can prove that fees were previously paid. In no event <br />shall the city be liable for any payment which may be due because of a subsequent <br />reduction in the application percentage of land or equivalent market value in cash to <br />be dedicated. <br />(Code 1964, § 11.62; Ord. No. 173 2nd series, § 1, 4-13-1996) <br />http://libraly.municode.com/print.aspx7h=&clientID-13094&HTMRequest=http%3 a%2f%2llibraly.municode.com%2fl4TM... 4/8/2014 <br />