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170.066 <br /> <br />5% vs 10% <br />Make Consistent <br /> w/land <br /> <br />Possibly <br />Modify Scale <br /> or <br />Set one fee <br />for all Units <br /> <br />CASH PAYMENT <br /> <br />In lieu of land dedication, the City Council may require <br />the subdivider to contribute ten percent (10%) of the <br />fair market value of the undeveloped land of residential <br />developments or five percent (5%) of commercial/indus- <br />trial developments which value is to be determined no <br />later than final plat approval or a specified <br />contribution per dwelling unit, whichever amount is <br />greater. "Fair Market Value", for purposes of this <br />Section 170.066, shall be determined as of the time of <br />filing the final plat .application in accordance with the <br />following: <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 />Bm <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 />The City Council, upon review and recommendation of the <br />Park and Recreation Commission shall annually determine <br /> <br />by resolution the park and dedication fee per residential <br />unit. <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 />Single Family <br />Duplex <br />Quads/Townhouses <br />Apartments <br /> <br />CASH CONTRIBUTION PER <br />RESIDENTIAL DWELLING UNIT <br /> <br />$425.00/dwelling unit <br />$360.00/dwelling unit <br />$320.00/dwelling unit <br />$265.00/dwelling unit <br /> <br />/0 <br /> <br /> <br />