(A) Where it has been determined pursuant to this chapter that conditions of overcrowding exist, payment of fees or dedication of land shall be made at the time a building permit for any residential unit is issued.
(B) This requirement need not be met if:
(1) The applicant for the residential development has entered into an agreement with the school district providing for mitigation of the district’s conditions of overcrowding which would otherwise be aggravated by the proposed residential development;
(2) In the judgment of the City Council there are specific overriding fiscal, economic, social or environmental factors which will benefit the city, thereby justifying the approval of a residential development otherwise subject to the provisions of this chapter without requiring dedication of land or payment of fees; or
(3) If both the city and the school district have approved conditions, covenants and restrictions of record which prohibit the residence of minor children in the proposed residential development.
(`78 Code, § 16.26.070.) (Ord. 1736 § 1 (part), 1984.)