HomeMy WebLinkAboutResolution 5419 Determination of CILP ValuationVersion April 2020
RESOLUTION NO. 5419
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA,
WHEREAS, Section 38.420.030 of the Bozeman Municipal Code, (“Cash Donation in
lieu of Land Dedication”) states that the city commission may adopt procedures to be used by the
director of parks and recreation to determine the fair market value for cash in lieu of parkland
dedication donations; and
WHEREAS, Section 38.420.030 of the Bozeman Municipal Code states that the city must
periodically update the market value as deemed necessary to reflect changes in the price of land;
and
WHEREAS, an updated appraisal report has been obtained from a qualified, licensed
appraiser to determine the fair market value of unsubdivided, unimproved land after it has been
annexed and given a municipal zoning designation in accordance with Montana Code Annotated
Section 76-3-621; and
WHEREAS, the appraisal report indicates the fair market value of residential property for
the purposes of cash donation in lieu of park land dedication is now $100,000 per acre (Exhibit
A);
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, to wit: that the fair market value of residential property for the purposes of
cash donation in lieu of park land dedication is $2.30 per square foot, subject to changes in market
conditions that warrant an updated appraisal.
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 7th day of June, 2022.
___________________________________
CYNTHIA L. ANDRUS
DocuSign Envelope ID: 5729948B-1193-4284-8F75-1A3C61596CA9
Version April 2020
Mayor
ATTEST:
___________________________________
MIKE MAAS
City Clerk
APPROVED AS TO FORM:
___________________________________
GREG SULLIVAN
City Attorney
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