In lieu of the payment of the tax imposed by this chapter, Council may accept the dedication or conveyance of land for public parks and recreational purposes upon such terms which are agreeable to Council and to the person, firm or corporation conveying or dedicating such land. In considering whether to accept such lands in lieu of the payment of the tax, Council shall consider whether such lands are suitably located and are of adequate size to contribute to the need for park and recreational sites of the occupants of the residences, multiple residential units or manufactured residential units to be constructed provided that in no event shall the aggregate value of such land conveyed or donated be less than the equivalent tax otherwise payable under this chapter.
(Ord. 496. Passed 5-29-79.)