After receiving a recommendation by the parks board, the city council may, at their discretion, approve and accept voluntary cash contributions in lieu of park land dedication and park improvements, which contributions must be segregated by the city and not used for any other purpose other than the acquisition of park land and/or park improvements. The fee structure for cash contributions for acquisition of park land shall be the appraised value of the required land area at the time of the application. The appraisal shall be submitted by a mutually agreed upon appraiser whose services are paid by the applicant. The fee structure for park improvements, including all costs of acquisition, construction and all related costs, shall be based upon the estimated costs of an approved project provided by a qualified contractor and/or vendor. (Ord. 822, 2-23-2006, eff. 3-16-2006)