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(A) Applicability. In lieu of dedicating and improving park or open space lands as required by this section, the city may permit an applicant to deposit with the city a cash payment in lieu of park development.
(B) Amount. The Code Enforcement Officer shall determine the amount to be deposited, based on the following formula:
C + (A x V) = M
V = fair market value (per acre) of the property to be subdivided, as established by an appraisal; and
M = the number of dollars to be paid in lieu of dedication of land.
(C) Fair market value. For purposes of computing fair market value of property, the subdivider may select one of the following fair market value determinations:
(1) The current fair market value of the land as shown on the records of the tax appraisal district if based upon an appraisal that occurred within two years prior to the application;
(2) The current fair market value of the land as determined by a qualified real estate appraiser at the subdivider’s expense, if the Code Enforcement Officer certifies that the appraisal fairly reflects the land value;
(3) The current fair market value of the land as determined by a qualified real estate appraiser employed by the city; or
(4) The actual purchase price of the property as evidenced by a purchase money contract, or a closing statement within one year of the date of application.
(1) The city shall reduce the land dedication component of the fee in lieu of parks or open space facilities by the amount of any reasonable costs for any land that has been dedicated to and accepted by the City Manager for park/open space facilities by the applicant within the proposed development, subject to the following:
(a) The reasonable costs of the park/open space facilities that have been dedicated shall reduce the fee in lieu of parks or open space due for only the same type of park facility;
(b) The unit costs used to calculate the reduction shall not exceed those assumed as the average costs of the park/open space facilities used to compute the fee in lieu of park development for the benefit area in which the property is located;
(c) No reduction shall be granted that exceeds the fee in lieu of park development due for the development; and
(d) Any reduction created by the dedication of park/ open space facilities shall expire ten years after the date that the offset was created.
(2) An applicant may apply for a reduction of fee in lieu of park development either at the time of approval of a subdivision plat or at the time of dedication by separate instrument. The applicant may appeal the determination of the Code Enforcement Officer of parks and recreation concerning the reduction to the city.
(3) The amount of the reduction shall be prorated among the number of dwelling units approved for the development unless otherwise agreed to by the city.
(E) Timing. Fees in lieu of park and open space development shall be assessed at the time of plat approval and shall be paid at the time of plat recordation.
(1) All fees collected shall be used for the acquisition or development of land for a neighborhood park, or development or construction of improvements to existing unimproved parkland. The park development or improvement shall be located within one mile of the periphery of the proposed subdivision development, or within a park benefit district established by resolution of the city. However, if acquisition opportunities are not available, or existing parkland is already developed or improved within one mile of the proposed subdivision development, then areas within two miles of the periphery of the proposed subdivision development may be considered for the acquisition of neighborhood parkland and/or construction of improvements to existing parkland within such periphery.
(2) A special fund is established for the deposit of all fees in lieu of park development. The fund shall be known as the Park Acquisition and Development Fund. Within the Fund, fees in lieu of park development paid shall be earmarked for expenditure on park improvements in a neighborhood park generally located within the distance described in subsection (F)(1) above. All fees in lieu of park development paid must be expended within ten years from the date of receipt for park facilities benefitting the residential subdivision or dwelling unit for which the fees are paid. Fees shall be considered expended if they are spent for acquisition or development, respectively, of neighborhood parks located within one-half to one mile of the subdivision for which the fees were paid within the ten-year period. If fees are not expended within such period, the then-current owner shall be entitled to a refund of the principal deposited by the applicant in such Fund, together with accrued interest. The owner must request such refund in writing within 365 days of entitlement or such right shall be waived. Interest accruing to the Parkland Dedication Fund and to the Park Development Fund shall be expended on neighborhood parkland acquisition and for neighborhood park improvements, respectively.
(Ord. 3020, passed 9-10-2013, § 5.21.4; Ord. 3160, passed 1-9-2018)