(a) Amount. In the event the Planning Commission determines that a subdivider or developer must pay a land acquisition fee in lieu of land dedication, the amount of such land acquisition fee shall be determined by the following formula:
Land acquisition fee in lieu of land dedication = Amount of land which would otherwise be required to be dedicated X
(b) Total of Land and Payment. Excluding the park development land acquisition fee, the total of land and payment made by a subdivider or developer in land and land acquisition fee in lieu of dedication shall be no greater than the fair market value of the amount of land required to be dedicated pursuant to Section 1230.09.
(c) Developers, builders or subdividers that have single lots or minor lot splits in the City, where utilities are in place, will pay a flat fee of five hundred dollars ($500.00) for land acquisition cost.
(Ord. 115-03. Passed 10-2-03; Ord. 146-04. Passed 7-16-04.)