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170.066 <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 rural residential <br />developments at densities of less than 1 unit per five <br />acres and commercial/industrial developments which value <br />is to be determined no later than final plat approval or <br />a specified contribution per dwelling unit, whichever <br />amount is greater. "Fair Market Value", for purposes of <br />this Section 170.066, shall be determined as of the time <br />of filing the final plat Dpplication in accordance with <br />the 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 />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~ uDon review and recommendation of the <br />Perk and Recreation Commission shall annually determine <br /> <br />bv 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 />CASH CONTRIBUTION PER <br />RESIDENTIAL DWELLING UNIT <br /> <br />Dupt.az <br /> <br />Apartmont~ <br />Single Family Rural <br />Densities <1 unit/5 acres <br /> <br />$250.00/dwel!inq unit <br /> <br />Ail O~he~ lrwel!inc Units <br /> <br />S500.00/dwel!inc unit <br /> <br /> <br />