1226.10 FEE IN LIEU OF DEDICATION.

(a) Amount of Fee in Lieu.In the event the Planning Commission determines that a subdivider or developer must pay a fee in lieu of land dedication, the amount of such fee shall be determined by the following formula:

Fee in lieu of land   Land area that would      Fair market
dedication    =   otherwise be required    x   value/acre to be dedicated
                      pursuant to Section 1226.09

(b) Determination of Fair Market Value. Fair market value shall be determined in accordance with Section 1226.12.

(Ord. 77-06. Passed 2-22-77.)

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