H.F. No. 4475 Summary

• Amends Minnesota Statutes 2018, section 462.358, subdivision 2b, regarding park dedication requirements in subdivisions.

• Caps park fees at five percent of fair market value of the development, with fair market value determined annually by the municipality based on tax valuation or independent appraisal.

• Allows municipalities to accept cash fees, land donations, or building of recreational facilities in lieu of land dedication, with the value of dedicated land deducted from any cash fee owed.

• Requires municipalities to maintain records detailing how cash payments are used and make records available to applicants upon request; cash payments must be used only for acquisition and development of parks and recreational facilities, not ongoing operations or maintenance.

• Exempts previously subdivided property with the same number of lots from new park dedication requirements, but applies dedication requirements only to net increase of lots if resubdivision increases lot count.