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SUBDNISIONS § 21-417 <br /> (3) The determination of fair market value of the undeveloped land by the zoning <br /> administrator, city council, or designated appraisers, shall be determined as of the <br /> time of preliminary plat application as long as there is final plat approval within the <br /> time limits as set forth in this chapter. The time of preliminary plat approval is <br /> utilized because the nature of the subdivision, its probable population, lot size, and <br /> other relevant factors are known. If an extension on the time limits in this chapter is <br /> approved by the city council,the fair market value shall be determined as of the time <br /> of the approval of that extension. In determining the fair market value as of time of <br /> preliminary plat application, or the extension thereof, the factors to be included in <br /> the analysis shall include any and all factors which are generally accepted and used <br /> by approved members of SREA or MAI or equivalent real estate appraisal societies. <br /> (Ord. No. 92, § 1(92.500(5),(6)), 8-21-78; Ord. No. 97, §§ 1, 2, 6-18-79) <br /> State law reference—Cash contributions in lieu of land, M.S. § 462.358, subd. 2b. <br /> Sec. 21-415. Lands designated for public use on official map or comprehensive land <br /> use plan. <br /> Where a proposed park, playground or other recreational areas, proposed school site, <br /> stormwater holding areas, ponds, or other public ground that has been indicated in the <br /> comprehensive municipal plan is located in whole or in part within a proposed subdivision, <br /> such proposed public site shall be designated as such and should be dedicated to the city, <br /> school district, or other proper governmental unit. If the subdivider chooses not to dedicate an <br /> area in excess of the land required under this section hereof for such proposed public site, the <br /> city council shall not be required to act to approve or disapprove the plat of the subdivision for <br /> a period of ninety (90) days after the subdivider meets all the provisions of this chapter in <br /> order to permit the city council, school board, or other appropriate govemmental unit to <br /> consider the proposed plat and to take the necessary steps to acquire, through purchase or <br /> condemnation, all or part of the public site proposed under the comprehensive land use plan or <br /> similar master plans. <br /> (Ord. No. 92, § 1(92.500(7)), 8-21-78) <br /> Sec. 21-416. Density and open space requirements. <br /> Land area so conveyed or dedicated for the above public purposes and/or its cash equiva- <br /> lent may not be used by a subdivider or owner as an allowance for purposes of calculating the <br /> density requirements of the development as set out in chapter 23 and shall be in addition to <br /> and not in lieu of open space requirements for planned unit developments, open space ease- <br /> ments, drainage, conservation and flowage easements, utility and road easements. <br /> (Ord. No. 92, § 1(92.500(8)), 8-21-78) <br /> Sec. 21-417. Credit for private open space. <br /> Where private open space for park and recreation purposes is provided in a proposed <br /> subdivision and:�uch space is to be privately owned and maintained by the future residents of <br />� the subdivision, such areas may be used for credit at the discretion of the city council against <br /> 1309 <br />