Discussion and Review of Tiffin Municipal Code Revisions – Preparation for Setting the Public Hearing — Tiffin City Code - DRAFT

CHAPTER 170 SUBDIVISION REGULATIONS E. Amount of Payment. The cash value of said land will be determined by taking the total purchase price or cost of all the land in the proposed subdivision and charge the owner the proportionate value of the land area so designated; based upon such purchase price or cost; provided such purchase price or cost is the current fair and reasonable value of the land. If such purchase price or cost does not reflect the current fair value of the land, the fair value of said land must be determined by an impartial appraisal, and in such manner as may be designated by the Council, cost for said appraisal to be shared equally between the subdivider and the City. 4. Requiring Both Dedication of Land and Payment of Fee. The City may, at its discretion, require a subdivider or a developer of a planned development to dedicate a portion of the land required under the formula set forth in this chapter, and also to pay a fee in lieu of dedication for the remaining portion of the land by said formula. The fee for the remaining portion will be determined by a qualified real estate appraiser who is acceptable to both the City and developer. The City and subdivider or developer will equally share the appraisal costs. 5. Use of Funds. A. All funds so levied, assessed and collected by the City will be deposited in a special fund to be known as the “Special Fund for the Acquisition and Development of Public Service Areas, Open Space and Recreational Facilities,” and that said funds so levied and collected must be used for such purposes at such places and in such a manner as will be approved, ordered and directed by the Council or their designee. Any interest accumulated upon such funds must be added to the “Special Fund” and be used only for acquisition and developments of open space and recreational facilities. B. If the City has not spent the funds by the last day of the five year period or, if extended, by the last day of an additional five years, the City must within 90 days thereafter, mail to the property owner, at the address on file with the County Treasurer’s office, a proportional refund based on the percentage of the platted lots they own of the total platted lots in the subdivision or planned development. The subdivision agreement or development agreement for each subdivision or planned development for which the developer has made payments in lieu of dedication must inform all property owners and successors in interest to properties in the subdivision or planned development of the right to a refund as provided herein. 170.21 PARKS AND SCHOOL SITES RESERVED. When a tract being subdivided includes lands proposed to be parks or school sites in the Community Development Plan or other official plan of the City, the subdivider shall indicate such areas on the plat. 1. Proposed park sites shall be reserved for three years, giving the City or other authorized public agency the option to purchase the land at the appraised raw land value prior to the subdivision as established by a certified land appraiser. The purchase price shall also include one-half of the cost for grading and paving, including curbs, of the portion of any streets that are contiguous to the site and any taxes and interest incurred by the subdivider between the date of reservation and date of purchase by the public agency. Should the park site not be purchased within three years, the subdivider may then amend the final plat. CODE OF ORDINANCES, TIFFIN, IOWA - 1847 -