Ordinances-2012-314

a) Recreational and open space elements of the City comprehensive plan, as amended, and the relation of the subdivision to the proposed open space and recreational areas; b) Topographic and geologic conditions of the land available for dedication; c) Size, shape, location of and access to the land available for dedication; d) The character and recreational needs of the neighborhood where the subdivision is located; e) The costs of developing open space and recreational areas in the subdivision; f) The actual or potential development of open space and recreational areas on land adjacent to the subdivision which will serve the needs of the subdivision; g) Recommendations of staff, the parks and recreation commission and the planning and zoning commission; and h) Any other relevant information. 4) Time Of Payment: Fees in lieu of dedication must be paid in full by the subdivider or developer prior to the issuance of the first building permit for a lot in the subdivision or planned development. 5) 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 City Council, cost for said appraisal to be shared equally between the subdivider and the City. D) 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 article, 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. E) USE OF FUNDS: 1) 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 City 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.