3B - Ordinance Amendment Establishing New Criteria for Park Dedication

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�.. not exceed ten percent(io%)of the fair market value of the land to be subdivided.The fair market value of the land to be subdivided shall be the value as determined by the /Crow Wing County Assessor at the time of Final Plat approval. The amount of land and/or payment shall be set by the Planning Commission, with the concurrence of the City Council, after taking into consideration the open space, park, recreational, or common areas facilities which the applicant proposes to reserve for public use within the subdivision. The City shall grant preference to payment in lieu of land dedication unless an area within the land to be platted has been identified by the Cijy for park acquisition. The following factors shall be taken into consideration when reviewing potential lands for park dedication: a. The suitability of the land for its intended purpose. b. The future needs of the community regarding parks trails and open spaces c. The amount of any fees imposed, consistent with the requirements and limitations contained in this Section. d. Whether the land is adjacent to or near other public recreation lands. e. Whether there is an opportunity to extend an existing or proposed trail or to enlarge an existing or proposed park or recreational facility. f. Whether the land dedication would protect environmentally or historically significant or sensitive sites. / g. Whether the land dedication provides a unique public benefit or contains unique natural features. Where private open space for park or recreation purposes is provided in a proposed subdivision and such space is to be privately owned and maintained by the future residents of the subdivision or owners of the development, the Planning Commission may consider granting a credit for park dedication.A credit of up to 2 5%of the buildable area of the proposed open space may be given provided that the following conditions are `.. met: a. The land area designated as open space and used in the calculation of the 2..r,%- credit shall not include any area that is otherwise considered unbuildable including,but not limited to, wetlands, steep slopes exceeding 12% and the area within setbacks from property lines, bluffs, and the ordinary high water mark among others. (b.l The land area designated as open space within the development is not occupied by non-recreational buildings, such as maintenance or caretaking buildings and is available for use to all residents of the proposed subdivision. The re uired setbacks and buffer areas shall not be included in the com utation of such private open space. d. The use of the private open space is restricted for park and recreational purposes by recorded covenants which run with the land in favor of the future owners of the property within the development and which cannot be defeated or eliminated without the consent of the City of Pequot Lakes. e. The area required to obtain increased densities shall not be included in the computation of such private open space. In no case shall the cash fee per lot be less than that stipulated in subpart (2) of -_� this Section, regardless of any potential credit that may be awarded to the applicant. 6. Funds received by the City,in lieu of land dedication, shall be placed in a special fund in accordance with Section 462.358 Subdivision 2b,of the Minnesota Statutes. All dedications shall be included in the dedicated portion of the plat, included in the development contract, or received by the City in Warranty Deed prior to the approval of the final plat,without further restrictions or reservations. City of Pequot Lakes Staff Report 2_3 June 21,2007