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f. Any cash contributions received pursuant to this section shall be placed in a special fund <br /> by the city and used only for the purpose for which the money was obtained. <br /> g. The Town Board,at its discretion, may waive or reduce the requirements of this section <br /> only when the subdivision includes a city-assisted development and the requirements <br /> would create a financial hardship for the project. <br /> h. Previously subdivided property on which park dedication HAS been received by the <br /> Town, being resubdivided with the same number of lots/units,shall be exempt from all <br /> park land dedication requirements. If the number of lots or the number of units in <br /> increased,then park dedication shall be made based on the number of additional lots or <br /> the number of additional units according to the following guidelines. <br /> (1) Land area subject to park dedication requirements shall be determined using the <br /> following steps. <br /> a. The total land area of the proposed subdivision/development must be <br /> determined. <br /> b. The total land area shall be divided by the total number of lots/units within the <br /> proposed subdivision/development resulting in an average land area per <br /> lot/unit. <br /> c. The number of new lots/units being created shall be multiplied by the average <br /> land area per lot/unit resulting in the land area subject to the park dedication <br /> requirements. <br /> d. 10%of this adjusted land area shall be calculated to determine the required <br /> park land dedication requirement. <br /> (2) If cash in lieu of land is proposed for park dedication then the following steps shall <br /> be taken to determine the required park dedication fee. <br /> a. The estimated market value of the entire land area shall be determined by the <br /> Crow Wing County Assessor,as of the date the subdivision/development is <br /> granted final approval by the Town Board or designated body. <br /> b. The estimated market value shall be divided by the total number of lots/units <br /> within the proposed subdivision/development resulting in an average estimated <br /> market value per lot/unit. <br /> c. The number of new lots/units being created shall be multiplied by the average <br /> estimated market value per lot/unit resulting in the estimated market value of <br /> land subject to park dedication requirements. <br /> d. An amount equal to 10% of this adjusted estimated market value shall be paid <br /> with a minimum fee of$500 and a maximum fee of$5,000 per lot/unit. <br /> Section 120-015 Special Provisions-Planned Unit Development <br /> General Park Dedication. The developer of a Planned Unit Development shall dedicate 10% of his <br /> usable land to the public for park purposes or, at the option of the Town Board,shall pay the Town <br /> an amount equal to 10% of the current estimated market value of the land prior to development with <br /> a minimum fee of$500 and a maximum fee of$5,000 per lot/unit. For the purposes of this section, <br /> "estimated market value" is defined by Crow Wing County Assessor,as of the date the <br /> subdivision/development is granted final approval by the Town Board or designated body. <br /> a. The Town Board may determine the location and configuration of any land dedicated, <br /> taking into consideration the suitability of the land for its intended purpose and future <br /> needs of the community for park, playground, trail,or open space property. <br /> b. The Park and Recreation Commission and the Planning and Zoning Commission shall <br /> give recommendations to the City Council regarding land dedication or cash in lieu of <br /> land. <br />