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ZONING APPLICATIONS fCONT.t <br />PARK DEDICATION FEES I <br />L4IMiI Dtdkalioii MiniiiiMin Area - Subdividcirs shall be required to dedicate to the City for <br />parks, playgrouads, trails, open spaces and other public purposes as a minimum that percentage <br />of gross bud area, or other such amount as may be determined by the City Council, as set forth below: <br />(I) Residentbl/Agricultural/Multipic Residential Zoned Land. <br />Dedication requirement of 8% of the land being platted or subdivided. <br />(Eaclusive of lot that includes an esbting residence.) <br />(2) Commcrcial/lndustrbl Zoned Land. <br />Dedicated requirement of 8% of the land being platted or subdivided. <br />Cash Contribution in Lieu of Lands. In those instances where a cash contribution is to be made <br />by the subdividcr, in lieu of a conveyance or dedication of bnd, the cash contribution to be <br />contributed shall be cquivaleni to the fair market value of the equivalent undevebped bnd <br />that would othcrw'se have been conveyed or dedicated. The City shall account for such funds in <br />a specbl fund named Park Dcdkatbn Funds. <br />The City Council has established by resolution a minimum resideutbl park fee of <br />$3,250 per dwellbg unit and a maiimum of $5,550 per dwelling unit <br />The City Council has established by resolution a minimum commercbl/industrbl park fee of <br />$8,125 per acre and a maximum of SI3375 per acre. <br />•'I <br />Applicable <br />Code Section <br />Municipal Code <br />Section 11.62 <br />Res. 4738 (12-10^)1) <br />Res. 4739 (12-10-01) <br />2003 Fee Scheduie-Page 6