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ae <br /> <br />The City Park and Recreation Commission and <br />subdivider may agree upon a recommendation to the <br />city Council as to the fair market value. <br /> <br />The City Council after reviewing the Park and <br />Recreation Commission's recommendation, may agree <br />~with the subdivider as to the fair market value. <br />If agreement is not reached in this manner, then <br />fair market value shall be determined in accordance <br />with the following: <br /> <br />The fair market value as determined by the City <br />Council based upon appraisals, accepted <br />purchase agreements, comparable market <br />transactions or other pertinent records as <br />determined by the City Council. <br /> <br />170. 066 <br /> <br />The cash contribution per dwelling unit, effective upon <br />the effective date of this ordinance shall be in <br />accordance with the following schedule: <br /> <br />HOUSING TYPE <br /> <br />CASH CONTRIBUTION PER <br />RESIDENTIAL DWELLING UNIT <br /> <br />Single Family <br />Duplex <br />Quads/Townhouses <br />Apartments <br /> <br />$425.00/dwelling unit <br />$360.00/dwelling unit <br />$320.00/dwelling unit <br />$265.00/dwelling unit <br /> <br />If, at the option of the City, it is determined that a <br />cash dedication shall be made, said cash shall be placed <br />in a special fund for Parks and Recreation use and <br />deposited by the developer with the City prior to final <br />plat approval. <br /> <br />COMBINATION OF LAND DEDICATION AND CASH PAYMENT <br /> <br />In appropriate plats, a combination of land and cash may <br />be required by the City. In the event a cobmination of <br />land and cash is required, the amount of land to be <br />dedicated shall be credited against the total park <br />dedication requirement and the remaining cash <br />contribution shall be based on the greater of the <br />specified cash contribution per dwelling unit or the <br />market value of the land. <br /> <br /> <br />