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chapter. The time of preliminary plat approval is <br />utilized because the nature of the subdivision, its <br />probable population, lot size and value, and other <br />relevant factors are known. If an extension of the time <br />limits in this chapter is approved by the City Council, <br />the fair T.a;.ket value shall be determined as of the time <br />of the approval of that extension. In determining the <br />fair market value as of time of preliminary plat <br />application, or the extension thereof, the factors to be <br />included in the analysis shall include any and all <br />factors which are generally accepted and used by <br />approved members of SREA or MAI or equivalent real <br />estate appraisal societies. <br />(4) Notwithstanding the above, in no event shall the cash <br />contribution per lot be less than $500.00 per let or <br />$300.00 per dwelling unit. <br />F. Development of Land Previously Platted. If the land has <br />already been previously subdi v idea and a fee had not been <br />previously paid, the requirements of this division shall apply at <br />the time of the issuance of a building p^'rmit for the primary <br />structure . <br />Su bdiV ision. Any land which is further <br />subdivided, divTH^eiT or repTatted subsequent to May 1, 1990, 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 changes previously imposed upon that land <br />if the subdivider can prove that fees were previously paid. In <br />no event shall the City be liable for any payment which may be <br />due because of a subsequent reduction in the application <br />percentage of land or equivalent market value in cash to be <br />dedicated. <br />H. Administrative Procedures. The City Council shall <br />establish such adminis tr ative procedures as they may deem <br />necessary or appropriate to implement the provisions of this <br />section of the code. <br />Section 3. <br />This ordinance shall have full force and effect upon its <br />passage and publication. <br />Passed by the Coucil of the City of Orono, Hennepin County, <br />Minnesota, this _ _ _ _ day of_ _ ___ _ _ _ _ _ _ _» 1990. <br />James R. Grabek, Mayor <br />ATTEST; <br />Dorothy M. Hallin, City Clerk