A. Requirements:
1. All developers of large scale developments shall, as a condition of approval, convey to the city title to water rights in an amount capable of producing (in a normal water year) one of the following:
a. For single- and two-family residential developments, the following formula shall be used: (2.58 x exact lot size in acres) + (0.5 x number of dwelling units) = water rights in acre-feet to be dedicated.
b. For multiple-family residential developments (2.58 x exact lot size in acres) + (0.3 x number of dwelling units) = water rights in acre-feet to be dedicated.
c. For commercial, industrial and other similar nonresidential developments, sufficient water rights to satisfy the needs of the proposed development as determined by the city; provided, that said requirement shall be not less than three (3) acre-feet per acre of land in the project.
2. Said rights shall be of a type acceptable to the city (i.e., irrigation stock, well rights, stock in culinary water company) and shall be conveyed prior to final approval of said project by the city council. (Ord. 2-19-2008A, 2-19-2008)
B. Previously Conveyed Rights: All water rights previously conveyed or placed in escrow as part of the annexation process shall be considered as a credit toward satisfying the requirements of this section. (Ord. 10-11-95A, 10-11-1995)
C. In-Lieu Purchase Of Available City Water Rights: In the event that the city shall have acquired water rights in an amount greater than needed to meet the current demand, the city may accept a cash payment in-lieu of the actual conveyance of water rights. The amount of the in-lieu payment shall be as established by action of the city council. (Ord. 3-4-2003C, 3-4-2003)