If the Planning Commission determines that a developer must pay a fee in lieu of land dedication and there is more than one (1) lot involved, then the amount of such fee shall be determined by the following formula:
Fee in Lieu of Land Dedication = Amount of land which would otherwise be required to be dedicated X Fair market value per acre
For purposes of this Chapter, fair market value shall be determined as of the time of the Final Development Plat using the County Auditor's determination of market value used for real estate taxation purposes. Alternative methods of determination of fair marker value may also be proposed and accepted.