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t .C APPUCATIONS <CONT.I <br />PARK INDICATION ¥EES 1 <br />Ltad Pcdkatioii Minimum Area - Subdividcrs shall be required to dedicate to the City for <br />parks, phygrouads, trails, open spaces and other public purposes as a minimiim that perceutage <br />of gros land area, or other such amount as ma} be determined by the City Council, us set Toilh below; <br />(1) RoMcallal/Agricultural/Multipic Residential Zoned Land <br />DetUcation requirement of 8% of the land being pbtied or subdis ided. <br />(Eiiclusive of lot that includes an existing residence.) <br />(2) Commercial/Industrial Zoned Lund. <br />Dctttcated requirement of 8% of the land being platted or subdi^ ided. <br />Cash Contribution In Lieu of l^nds. In those Instances where a cash contribution b to be made <br />by the subdivider, in lieu of a conveyance or dedication of land, the cash contribution to be <br />contributed shall be equivalent to the fair market value of the equivalent undeveloped land <br />that would otherwise have been conveyed or dedicated. The City shall account for such funds in <br />a special fund named Park Dedication Funds. <br />Applicable <br />CasRSwtion <br />Municipal Code <br />Section 11.62