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Lot 3 Replat -Denim & Diamonds Subdivision <br />5/15/97 - P & Z Meeting <br />Page 3 of 3 <br />A final issue to consider is payment by the applicant, of money in lieu <br />park land dedication. These fees were paid when the original Denim & <br />Diamonds Subdivision plat was approved by the City in 1993. This replat <br />will, however, create a new residential homesite. Under the terms of the <br />Development Ordinance, Section 12.05, a $175.00 fee will be due to the <br />City. The money will be escrowed and may only be spent to acquire or <br />upgrade public park facilities. The money may be spent with Park Zone <br />IV, the zone in which Denim & Diamonds Subdivision is located. <br />The applicants have been made aware of this fee and understand that it <br />must be paid prior to the replat being released for recordation. <br />Conclusion: Staff find the requested replat of Lot 3, Block 1 of the Denim & Diamonds <br />Subdivision to satisfy all applicable provisions of State Law and City <br />Ordinance. <br />We, therefore, recommend Commission approval with the condition that the <br />replat not be released for recordation until the following items have been <br />satisfied: <br />1) Add language as per Appendix D, Enclosure 1 -Applicant's <br />acknowledgement that replat will not alter, amend or remove any <br />covenants or restrictions. <br />2) All signatures required on the plat are obtained prior to formal <br />recordation. <br />3) A recorded mylar is provided to the City. <br />4) Public hearing costs of $36.80 must be paid by the applicants. <br />5) The additional $175.00 parkland fee must be paid by the applicants. <br />