When the payment of in-lieu fees are required under the terms of this Chapter, such fees shall be calculated, on a per residential unit basis, as follows:
A. | NSPF | = | minimum fee per unit 1,000 |
N | = | number of proposed dwelling units | |
S | = | planned park acreage per 1,000 population | |
P | = | average population per dwelling unit | |
F | = | fair market value |
B. If a proposed subdivision contains fifty (50) parcels or less, only the payment of fees, as provided herein, shall be required, unless otherwise agreed by the City and the developer. However, when a condominium project, stock cooperative or community apartment project exceeds fifty (50) dwelling units, dedication or payment of fees shall be required notwithstanding that the number of dwelling units may be less than fifty (50).