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1668 trails and natural areas versus active community parks and bailfields,commercial/industrial <br /> 1669 employees use the city's park system in ways similar to city residents. Therefore, the <br /> 1670 commercial/industrial dedication requirement will be tied to the residential dedication <br /> 1671 requirement by determining the number of employees that is equivalent to a residential <br /> 1672 dwelling unit in terms of impact on the city's park system.Periodically the city will establish <br /> 1673 both a maximum and minimum park dedication amount per employee based on this <br /> 1674 determination and the determination of the residential dedication requirement as set out in <br /> 1675 subsection(3)a of this section.This will be done by resolution of the city council. <br /> 1676 c. Because the city's park system is focused on trails and natural open space areas,the city does <br /> 1677 not have a broad system of neighborhood parks.If a subdivision is planned to be served by <br /> 1678 a neighborhood park, this subdivision will receive a greater benefit from the city's park <br /> 1679 system than that received by the general population. Therefore, the maximum park <br /> 1680 dedication amount as determined in subsection(3)a of this section may be exceeded up to <br /> 1681 the full eight percent dedication requirement in the case of a subdivision that is planned to <br /> 1682 be served by a neighborhood park Commented[JB931:There are better ways to determine <br /> 1683 (4) Cash contribution in lieu of lands.In those instances where a cash contribution is to be made by park dedication. Needs to be reviewed,but as a separate <br /> 1684 the subdivider, in lieu of a conveyance or dedication of land, the cash contribution to be study. Plymouth has a good way. <br /> 1685 contributed shall be equivalent to the fair market value of the equivalent undeveloped land that <br /> 1686 would otherwise have been conveyed or dedicated. The city shall account for such funds in a <br /> 1687 special fund named park dedication funds.These funds are to be used only for the acquisition, <br /> 1688 development and improvement of public parks,playgrounds,trails,wetlands or open spaces,and <br /> 1689 debt retirement in connection with the foregoing. <br /> 1690 (5) Fair market value of lands. Fair market value for purposes of this section shall be the land <br /> 91 predevelopment value to be determined by the city council as of the time of preliminary plat <br /> 92 application in accordance with the following: <br /> 1693 a. The city assessor shall recommend to the city council as to the fair market value of the land <br /> 1694 after consultation with the subdivider. <br /> 1695 b. If agreement is not reached between the city assessor and subdivider,the fair market value <br /> 1696 shall be determined in accordance with the following: <br /> 1697 1. Fair market value as determined by the city council based upon a current appraisal <br /> 11698 submitted to the city by the subdivider,at his-their expense.The appraisal shall be made <br /> 1699 by appraisers who are approved members of SREA or MAI,or equivalent real estate <br /> 1700 societies. <br /> 1701 2. If the city disputes such appraisal amounts,it may obtain an appraisal of the property <br /> 1702 by a qualified real estate appraiser which the city council selects and which appraisal <br /> 1703 may be accepted by the city as being an accurate appraisal at fair market value.The cost <br /> 1704 of the appraisal shall be paid by the subdivider. <br /> 1705 c. The determination of fair market value of the undeveloped land by the city assessor,city <br /> 1706 council or designated appraisers shall be determined at the time of preliminary subdivision <br /> 1707 approval,provided that there is final plat approval within the time limits as set forth in this <br /> 1708 chapter. The time of preliminary plat approval is utilized because the nature of the <br /> 1709 subdivision,its probable population,lot size and value,and other relevant factors are known. <br /> 1710 If an extension of the time limits in this chapter is approved by the city council, the fair <br /> 1711 market value shall be determined as of the time of the approval of that extension. In <br /> 1712 determining the fair market value as of time of preliminary plat application,or its extension, <br /> 1713 the factors to be included in the analysis shall include any and all factors which are generally <br /> June 15,2020 page 39 <br />