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A. Residential Development: The developer of any residential subdivision or condominium project or any residential project requiring site plan or SRD approval shall obtain and transfer to the City water shares or rights, equivalent to not less than two and two-tenths (2.2) acre-feet of water per year in volume, from any City approved canal, spring, well or other source for each acre or part thereof to be subdivided or developed.
B. Commercial, Industrial, And Mixed Use Development: The developer of any commercial, industrial, or mixed use project or any such project requiring site plan or SRD approval shall obtain and transfer to the City an amount of water shares or rights from any City approved canal, spring, well or other source for each acre or part thereof to be subdivided or developed. Said water amount shall be determined on a case by case review based on the type of project, including, but not limited to, the amount of building surface, asphalt, and landscaping required for the project.
C. General Provisions Applicable To All Development: Any and all shares or rights to be delivered to the City, as required by this section, shall be recognized by the State Water Engineer and acceptable to the City. The City may, at its discretion, accept cash in an amount set by the City Council in lieu of said water shares or rights. Water shares or rights shall be submitted to the City Manager or his/her designee. All water shares or rights transferred to and accepted by the City shall be held in the sole ownership of the City upon transfer of the same. The City Manager or his designee shall have the right to vote its water shares in accordance with the applicable rules and regulations governing the same and shall coordinate contacts and actions of the City with the respective canal or irrigation companies in which the shares are owned. (Ord. 2007-01, 1-16-2007)