11-09-1998 Council Packet - Laserfiche WebLink

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A. The City Assessor shall recommend to d.e City Council as to tlie fair market value of the land after consultation with the subdivider. B. If agreement is not reached between the City Assessor and subdivider, then the fair market value shall be determined in accordance with the following: 1. Fair market value as deterr lined by the City Council based upon a current appraisal submitted to the City by the subdivider, a', his expense. The appraisal shall be made by appraisers who are approved members of SREA ci MAI, or equivalent real estate societies. 2. If the City disputes su:h appraisal amounts, it may obtain an appraisal of 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 ac .urate appraisal at fair market value. The cost of the appraisal shall be paid by the subdivider. 3. The subdivider may appeal any final determination of fair market value as provided by Minnesota Statute Section 462.361. C. The determinatio.t 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 tha'. there is final plat approval within the time limits as set forth in this chapter. The time of prelimi* lary 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 chapt.T is approved by the City Council, the fair market value shall determined as of the time of che approval of that extension. In determining the fair market value t of time of preliminary' pl?i application, or the extension thereof, the factors to be included in the analysis shall include a.'.y and all factors which are generally accepted and used by approved members of SREA or fvlAI or equivalent real estate appraisal societies. Subd. 6. Development ofLand Previously Platted. (Repealed per Ordinance #89, Second series, adopted October 8,1990.) Subd 7. Future Subdivision. Any land which is further subdivided, divided or replatted or applied for 'juch subsequent to May 1,1990, shall be subject to the requirements of the ordinance then in eMect concerning dedication of land for public purposes, and credit shall be given for any charge.s 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 n.;y be due because of a suosequent 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. f (