§ 16.08.050. Fee in lieu of land dedication.

When a fee is to be paid in lieu of land dedication, the amount of such fee shall be based on the number of dwelling units permitted by the city's zoning regulations in the subdivision or lot split, and shall be a sum equal to the fair market value of land required in accordance with the following formula:

 Number of dwelling units permitted × "P" fair market value/acre = Fee. "P" is a constant in the formula and is computed by applying the standards from Section 16.08.010(B), .005 acres per person times the persons per dwelling unit as per section 16.08.030.

A.

The fair market value shall be determined by the city council;

B.

If the subdivider objects to such evaluation he may, at his expense, obtain an appraisal of the property by a qualified real estate appraiser, which appraisal may be accepted by the city council if found by it to be reasonable; or

C.

The city and subdivider may negotiate and thereafter agree as to the fair market value, for the purposes of this chapter and Chapter 16.04 of this code.

(Ord. No. 628 §§ 7, 8, 2004; prior code § 1610)