MN SF914

Amends Minnesota Statutes section 462.358, subdivision 2b, regarding park dedication requirements for proposed subdivisions.

Caps park fees at five percent of the appraised land value at time of application, with fair market value determined by municipality through tax valuation, negotiation, or independent appraisal.

Allows municipalities to accept cash fees, land donations, building of recreational facilities, or combinations thereof in lieu of land dedication for parks, trails, open space, and recreational facilities.

Requires municipalities to place cash payments in a special fund for acquisition and development of parks and open space only, not for ongoing operation or maintenance, with public records maintained.

Exempts previously subdivided property from park dedication requirements if resubdivided with the same number of lots; applies fees only to net increase of lots on resubdivisions.