(A) All funds collected pursuant to this chapter shall be deposited in the city’s Park Development Fund and used solely for the acquisition or leasing of park land and the development, improvement, or upgrades of new and existing parks. All expenditures shall be administered in accordance with the current purchasing requirements of the city and the Mansfield Park Facilities Development Corporation. Funds shall not be used for the operation and maintenance of parks.
(B) The city shall account for all sums paid into the Park Development Fund. Any monies paid into said fund must be expended by the city within ten years from the date that all the land for a neighborhood park for the subdivision has been acquired and when the subdivision(s) adjacent to that park land has been 75% built out. If not so expended within the ten-year period, the then current owners of the property shall, on the last day of such period, be entitled to a refund of the remaining fees. Said owners must submit to the city a written request for the refund within one year of the date of entitlement or the right to receive the refund will be deemed waived and the funds shall remain as property of the city and be used for the general purpose of park land acquisition, design and development as expressed in this chapter.
(Ord. 1421, passed 4-14-03; Am. Ord. OR-2227-21, passed 11-8-21)
2022 S-25