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A. Residential/agricultural/multiple residential zoned land. Dedication requirement <br />of 8% of the land being platted or subdivided. The dedication required shall be roughly proportional <br />to the projected impact of the proposed development on the City's park system. Because of the <br />vastly differing land values in Orono, the 8% park dedication requirement could result in park <br />dedication requirements that are either significantly greater than or significantly less than the amount <br />which is roughly proportional to the impact of the proposed development on the City's park system. <br />Periodically, therefore, the City will establish both a maximum and minimum park dedication <br />amount per dwelling unit based on an updated projection of the cost of the City's park systein, and <br />the proportionate share of this projected cost to be borne by new dwelling units in Orono. This will <br />be done by a resolution of the City Council. <br />B. Commercial/industrial zoned land. Dedication requirement of 8% of the land <br />being platted or subdivided. The dedication required shall be roughly proportional to the projected <br />impact of the proposed development on the City's park system. The City finds that the emplo>ees <br />of commercial/industrial developments in the City make use of the City s park system, particularly <br />trails and natural areas. Because the City's park system is focused on trails and natural areas versus <br />active community parks and ballfields. commercial/industrial employees use the City's park system <br />in ways similar to City residents. Therefore, the commercial/industrial dedication requirement will <br />be tied to the residential dedication requirement by determining the number of employees that is <br />equivalent to a residential dwelling unit in terms of impact on the City's park system. Periodically <br />the City will establish both a maximum and minimum park dedication amount per employee based <br />on this determination and the determination of the residential dedication requirement as set out in <br />Paragraph A of Subdivision 3. This will be done by resolution of the City Council. <br />C. Because the City of Orono’s park system is focused on trails and natural open <br />space areas, the City docs not have a broad system of neighborhood parks. If a subdivision is <br />planned to be ser\ed by a neighborhood park, this subdivision wilt receive a greater benefit from the <br />City's park system than that received by the general population. 1 herelorc, the maximum park <br />dedication amount as determined in Paragraph A may be exceeded up to the full 8% dedication <br />requirement in the case of a subdivision that is planned to be served by a neighborhood park. <br />Subd. 4. Cash Contribution in Lieu of Lands. In those instances where a cash contribution <br />is to be made by the subdividcr, in lieu of a conveyance or dedicafion of land, the cash contribution <br />to be contributed shall be equivalent to the fair market value of the equivalent undeveloped land that <br />would otherwise have been conveyed or dedicated. The City shill account for such funds in a <br />special fund named Park Dedication Funds. These funds are to be used only for the acquisition, <br />development and improvement of public parks, playgrounds, trails, wetlands, or open spaces, and <br />debt retirement in connection with the foregoing. <br />Subd. 5. Fair Market Value of Lands. "Fair Market Value'' for purposes of this Code shall <br />be the land pre-development value to be determined by the City Council as ot the time of <br />preliminarv' plat application in accordance with the following: