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) ResidentialAgricultural/Multiple Residential ZonedLand.Dedication requirement of 10» of the land being platted, suDdivided or existing lot of record.) coramercial/lndustrial Zoned Land.Dedication requirement of 10% of the land being platted, subdivided or existing lot of record.Cash Contribution in Lieu of ^an^. In those instanceslnt‘^undtieloperiand^Sat^SoSd othL4iL®have been con- : dedicated. <br />Pair Marker Value of Lands. "Fair Market Value" for pur- <br />: tiis Cooe shall be the land value to be determined by ^.he <br />Inch as of the time of preliminary plat application in <br />1C9 with the following: <br />I -^he City Assessor shall recommend to the City <br />to thffair market value of the land after consultation <br />with the subdivider. <br />I If agreement is not reached between <br />and subdivider, then the fair market value shall be <br />determined in accordance with t.he following: <br />(a) Fair market value as th^*^^^based uoon a current appraisal submitted Jo th <br />City bv the subdivider, at his expense. The <br />aopraiial shall be made by appraisers who are <br />. approved members of SREA or MAI, or equivalent real <br />estate societies. <br />(b) If the City disputes such appraisal <br />obtain an appraisal of the property by a qualified <br />real estate appraiser which the City Council <br />selects and which appraisal may be accepted Jy ^he <br />City as being an accurate appraisal at fair marke <br />value. The cost of the appraisal shall b< . a y <br />the subdivider. <br />The determination of fair or^^desig- <br />oped land by the City Assessor, L <br />nated aopraisers, shall be determined as of <br />preliminiry plat application as long as J^®**® <br />plat aporoval within the time limits as set <br />this chanter. T.he time of preliminary plat approval <br />(4)is utilited because the nature or 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 fac­tors which are generally accepted and used by approved members of SREA or MAI or equivalent real estate appraisal societies.Notwithstanding the above, in no event shall the cash contribution per lot be less than $500.00 per lot or $300.00 per dwelling unit.Develooment of Land Previouslv Platted. If the land hasalready been previously suodivided and a fee .nad not been previ­ <br />ously paid, the requirements of this division shall apply at the <br />time of the issuance of a building permit for the primary struc­ <br />ture . <br />G. Future Subdivision. Any land which is further subdivi­ <br />ded, divided or replanted subsequent to _ _ _ _ _ _ _ _ _ _, 9 , shall <br />be subject to the requirements of the ordinance then in effect ' <br />concerning dedication of land for public purposes, and credit <br />shall be given for any charges previously imposed upon that land <br />if the subdivider can prove that fees were previously paid. In no <br />event shall the City be liable for any payment which may be due <br />because of a subsequent reduction in the application percentage of <br />land or equivalent market value in cash to be dedicated. <br />H. Administrative Procedures. The City Council shall estab­ <br />lish such administrative procedures as they may deem necessary or <br />appropriate to implement the provisions of this section of the <br />code. <br />Section 3. <br />This ordinance shall have full force and effect upon its <br />passage and publication. <br />Passed by the Council of the City of Orono, Hennepin County, <br />Minnesota, this dav of , 1989. <br />ATTEST: <br />Mayor <br />Clerk