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c. Prior to the dedication of the required property,the subdivider shall provide the town <br /> with an acceptable title opinion or title insurance policy addressed to the town,which <br /> insures the title and the city's proposed interest in the property. In any dedication of <br /> required land,the subdivider must transfer good and marketable title to the city, free <br /> and clear of any mortgages,liens,encumbrances or assessments,except easements or <br /> minor imperfections of title acceptable to the town. If this land is not formally dedicated <br /> to the town with the final plat,the subdivider shall record all deeds for conveyance of <br /> the property to the town at the same time as the final plat or other appropriate division <br /> documents. <br /> d. At the town's option,the following properties shall not be accepted for purposes of the <br /> owners compliance with this section: <br /> 1. Land dedicated or obtained as easements for stormwater retention,drainage, <br /> roadway and other utility purposes. <br /> 2. Land which is unusable or of limited use; and <br /> 3. Land that is protected wetlands/floodplain area. <br /> e. Cash contributions for all planned unit developments must be paid before the town signs <br /> the final plat,deed or certificate of survey. Cash contributions for all other types of <br /> residential,commercial,office or industrial developments,where park dedication <br /> applies, must be paid before the town issues the first building permit for the project. <br /> Single-family residential developments must be paid before the city signs the final plat. <br /> Cash contributions for all other types of residential,commercial,office or industrial <br /> developments must be paid before the city issues the first building permit for the <br /> project. <br /> 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 purposes for which the money was obtained. <br /> g. The town Board,at its discretion,may waive or reduce the requirements of this section <br /> when the subdivision includes a city-assisted development and the requirements would <br /> 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 is <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 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 />