A. When a fee is to be paid in lieu of land dedication value of the amount of such fee shall be based upon the fair market value of the amount of land which would otherwise be required for dedication pursuant to Section 16.40.040, plus twenty percent toward costs of off-site improvements.
B. The fee shall be determined by the following formula:
Formula based on population estimate: The formula for determining acreage per proposed dwelling unit to be dedicated shall be as follows: DU x population x 5 acres = acreage to be dedicated Dwelling unit 1000 people |
The calculation shall be based on the most recent number provided by the State Department of Housing and Community Development. The average number of persons per dwelling unit in the as of 2016 is 2.96 persons per unit. |
C. Fees to be collected pursuant to this section shall be approved by the City Council.
(Ord. 824-2016 § 15 (part), 2017)