A. Criteria For Requiring A Contribution In Lieu Of Park Sites: In the event that the proposed subdivision or development is small and the resulting required land dedication is too small to be practically useful to the park district with jurisdiction, or in the event that the land available for dedication is inappropriate or insufficient for park or recreational purposes, then the City Council shall have the authority to require the subdivider or developer to pay a cash contribution in lieu of or in combination with the land dedication. The cash contributions in lieu of park and recreation land dedication shall be held in trust by the City, or other public body designated by the City, solely for the acquisition and construction of new park and recreation land as hereinbefore classified, or for the expansion and improvement of existing park and recreation land. The proposed development shall be located within the service area of the park and recreation land for which the cash contribution in lieu of land dedication is used.
Improvement under this section shall be liberally construed and shall include, but shall not be limited to, the development of: parking lots; sidewalks; traffic signals; arterial streets; collector streets; internal roadways; connections with sewer, water and electrical lines; and streetlights; playgrounds; recreation grounds; buildings and athletic fields. Improvement shall also include excavation and site preparation, and the purchase of any material, goods or equipment necessary to said development and construction. The cash contributions in lieu of land dedication shall not be used for daily park district operations or routine park maintenance.
B. Fair Market Value: The cash contributions in lieu of land shall be based on the fair market value of the acres of land in the area improved as specified herein, that otherwise would have been dedicated as park and recreation. It has been determined that the present fair market value of such improved land in and surrounding the City is, as of May 1, 2017, two hundred thousand dollars ($200,000.00) per acre for park and recreation sites and such figures shall be used in making any calculation herein unless the subdivider or developer files a written objection thereto. The initial fair market value set forth herein shall be adjusted annually by the year over year (January to January) increase in the Consumer Price Index (CPI) for the Chicago/Gary/Kenosha metropolitan area. It is recognized that fair market value of improved land may change over the years, and the price set forth herein is subject to periodic review and amendment by the City Council as necessary.
C. Objections: In the event a subdivider or developer files a written objection to the fair market value per acre set forth in subsection B of this section, the subdivider or developer shall submit an independent appraisal showing the fair market value of such improved land in the area of the development or other evidence thereof and final determination of said fair market value per acre of such improved land shall be made by the City Council based upon such information submitted by the subdivider or developer and from other sources which may be submitted to the City Council by the park districts or others.
D. Allocation Of Fees Between Park Districts: If the proposed development is located so that it is within the service area of parks located in more than one (1) park district, then any fees collected may be allocated to either park district at the discretion of the City Council in accordance with this chapter. (Ord. Z-34-16, 5-1-2017)