(A) If, in the judgment of the City Council, the area proposed to be dedicated is not suitable or desirable for park/playground purposes, because of location, size or other reason, the City Council may require, in lieu of land dedication, a payment to the city of a sum equal to the percentage listed above of the average value of the land to be subdivided. The aforementioned value shall be the value of the land upon approval of the preliminary plat, yet prior to the installation of improvements, and shall be determined jointly by the City Council or its agent and the subdivider. If the City Council and the subdivider cannot agree on land value, then the land values shall be established on the basis of the average of two independent appraisals by professional appraisers; and the cost of the professional appraisal shall be paid by the subdivider.
(B) The dedication of land for public use shall be without restrictions or reservations and shall be transferred to the city.
(2001 Code, § 12.08)