§ 16.34.070. Amount of fee in lieu of land dedication.

When a fee is to be paid in lieu of land dedication, the value of the amount of such fee shall be based upon the fair market value of the amount of land which would otherwise be required for dedication pursuant to Section 16.34.050. The fee shall be determined by the following formula:

Park Acreage Dedication:

DUs

×

Pop

×

3 acres

×

FMV

=

subtotal

×

6/5

=

in-lieu fee

DU

1,000 people

buildable acre

 

where

DU's = Number of dwelling units as defined in Section 16.34.040.

Pop = Population per dwelling unit.

DU

Park acreage dedication standard, the adopted amount of park land and park development per one thousand residents that is required pursuant to this chapter, as determined by city council as set forth in Section 16.34.030.

FMV = Fair market value determined by Section 16.34.080.

Buildable acre =a typical acre of the subdivision, with a slope less than ten percent, and located in other than an area on which building is excluded because of flooding, easements, or other restrictions.

Fees to be collected pursuant to this section shall be reviewed by the community services director to ascertain if they comply with the formula set forth in this section. If compliance is found, then the fees shall be approved by the community services director.

(Ord. 1144 §2(part), 2006).