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Financial Resources <br /> Minnesota Statutes 462.458 subd.2b and 2c provides for parkland dedication with the <br /> development of land providing there is language in the subdivision ordinance for this <br /> provision. The City has also an obligation to develop a park and open space plan and <br /> related capital improvement budget for park development and improvements. <br /> The municipality may accept land or a cash fee or a combination of these for developers <br /> to fulfill their obligation. The subdivision ordinance provides for a dedication <br /> requirement of % of the fair market value of the property or land area. Any funds <br /> received for parkland dedication must be kept separate from those of other funds and can <br /> be used only for capital expenditures in the acquisition of betterment of parklands and not <br /> for operations. <br /> Resources available to the City of Pequot Lakes in providing adequate parks, trails and <br /> facilities for users of the park system typically come from the following sources: <br /> 1. Property taxes <br /> 2. Park Dedication fees <br /> 3. Volunteer Labor <br /> 4. Donations from various sources <br /> 5. Grant funding <br /> Grant funding generally involves the building of a park or park project and usually <br /> requires matching funds or contributions. Park maintenance primarily relies on property <br /> tax revenues and volunteer efforts. With these in mind, the development of parkland <br /> needs to be accomplished with the understanding that there are ongoing obligations <br /> regarding maintenance and general upkeep or up-front needs. <br /> Strategic Plan <br /> Goals and Recommendations <br />