(A) In instances where dedication of land for community facilities or public open space is unacceptable, unsuitable, unneeded or infeasible within a subdivision, the subdivider may, at the city's discretion, pay a fee in lieu of land dedication specified in § 154.061 above in the amounts listed below based upon the market value prior to development as determined by the County Tax Appraisal District.
(1) Subdivision size over five acres up to and including 20 acres: 5% of market value of land area that is zoned or intended for residential use.
(2) Subdivision size over 20 acres: 8% of market value of land area that is zoned or intended for residential use.
(B) For subdivisions greater than one acre in size up to five acres in size, where no land dedication is required, a fee shall be the equal to 5% of the market value of land area that is zoned or intended for residential use. No fee or land dedication is required for subdivisions one acre or less in size.
(C) Fees paid to meet the community facility and public open space requirements shall be deposited by the city in an account for use only in the acquisition of land, purchase of equipment or construction of improvements for public open space, including parks, playgrounds and natural areas.
(Ord. 08-358, passed 11-18-2008)