12-09-2002 Council Packet - Laserfiche WebLink

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A. The CiQr Assessor shall recommend to the City Council as to the fair market value of the land after consultation with the subdivider. ~ B. If agreement is not reached be^vccn the City Assessor and subdivider, then the fair market value shall be determined in accordance \vith the following: 1. Fair market value as determined by the City Council based upon a current appraisal submitted to the City by the subdivider, at his expense. The appraisal shall be made by appraisers who are approved members of SREA or MAI, or equivalent real estate societies. . 2. If the City disputes such appraisal amounts, it may obtain an appraisal of I the property by a qualified real estate appraiser which the City Council selects and which appraisal may be accepted by the City as being an accurate appraisal at fair market value. The cost of the appraisal shall be paid by the subdivider. 3. The subdivider may appeal any final delcnninalion of fair market value as provided by Minnesota Statute Section 462.361. • C. The determination of fair market value of the undeveloped land by the City Assessor, City Council, or designated appraisers, shall be determined at the time of preliminary subdivision approval provided that there is final plat approval within the time limits as set forth in this chapter. TTie time of preliminary plat approval is utilized because the nature of the subdivision, its probable population, lot size and value, and other relevant factors are known. If an extension of the time limits in this chapter is approved by the City Council, the fair market value shall be determined as of the time of the approval of that extension. In determining the fair market value as of time of preliminary plat application, or the extension thereof, the factors to be included in the analysis shall include any and all facton which are generally accepted and used by approved members of SREA or MAI or equivalent real estate appraisal societies. Subd. 6. Development of Land Previously Platted. (Repealed per Ordinance #89, Second scries, adopted October 8, 1990.) Subd. 7. Future Subdivision. Any land which is further subdivided, divided or replatted or applied for such subsequent to May 1,1990, shall be subjec(.to the requirements of th^rdinance then in effect concerning dedication of land for public purposes, and credit shall be given for any charges previously imposed upon that land if the subdivider can prove that fees were previously paid. In no event shall the City be liable for any payment which may be due because of a subsequent reduction in the application percentage of land or equivalent market value in cash to be dedicated. Subd. 8. Administrative Procedures. The City Council shall establish such administrative procedures as they may deem necessary or appropriate to implement the provisions of this section of the Code. r< c\}