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B. *Park Commission shall review park dedication requirements for this <br />property and may accept park fee in lieu of lands. The City Assessor will <br />be asked to determine the fair market value of the undeveloped lands <br />within the subdivision (Lot 1) so that a park dedication fee can be <br />determined. This fee may be adjusted if acquisition of a bike/trail <br />easement along County Road 151 is required. Applicant will be advised <br />as soon as the City Assessor has submitted his determination of fair <br />market value. <br />Adopted by the City Council of the City of Orono, Minnesota at a regular meeting <br />held this 8th day of May, 1995. <br />ATTEST: <br />Dorothy M. Hallin, City Clerk Edward J. Callahan, Jr., Mayor <br />STATE OF MINNESOTA ) <br />) ss. <br />COUNTY OF HENNEPIN ) <br />The foregoing instrument was acknowledged before me on this 8th day of May , <br />1995, by Edward J. Callahan, Jr. & Dorothy M. Hallin, Mayor & City Clerk ot the City of <br />Orono, a Minnesota municipal corporation and said instrument was executed on behalf of the <br />City. * <br />Notary Public <br />Page 5 of 6