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<br />10/22/2007 <br /> <br />of no less than 500 square feet, with the shorter side of each rectangle being no less <br />than 20 feet wide. <br /> <br />The value of such private open space shall be determined by the City Council, based <br />upon a professional appraisal produced by an independent consultant selected by the <br />City and paid for by the subdivider. Such appraisal shall take into account only the <br />value of such open space in the marketplace if it were restricted to use as open space <br />usable for active recreational uses and sold separately from the remainder of the <br />subdivision. The valuation shall not take into account the amount the City (or any other <br />public entity) might pay for such open space unless, in the opinion of the City Council, <br />the City or another public entity has an established history or policy of purchasing open <br />space in the City of similar size, configuration and use. <br /> <br />The credited amount shall be as follows: <br /> <br />(i) 100% credit for space open to the public during normal City Park hours. <br />(ii) 25% credit for space open to the residents of the subdivision only. <br /> <br />C. Where a credit granted pursuant to paragraphs A or B is applied to a land <br />dedication requirement, as opposed to a fee requirement, the amount of such credit <br />shall be calculated at a rate of 1 acre of credit for each $1,927,530 in value of park and <br />recreational improvements (in the case of a credit pursuant to paragraph A) or private <br />open space useable for active recreational uses (in the case of a credit pursuant to <br />paragraph B). <br /> <br />30.147 <br /> <br />Use of Fees and Dedicated Land <br /> <br />A. The city shall develop a schedule specifying how, when, and where it will <br />use the land and fees accepted or collected pursuant to this Article to develop park or <br />recreational facilities to serve the residents of the subdivisions for which such <br />dedications or payments have been made. Any fees collected shall be committed within <br />five years after the payment of the fees or the issuance of building permits on one-half <br />of the lots created by the subdivision, whichever occurs later. If the fees are not <br />committed, they, without any deductions, shall be distributed and paid to the then record <br />owners of the subdivision in the same proportion that the size of their lot bears to the <br />total area of all lots within the subdivision. <br /> <br />B. All fees collected shall be deposited into a subdivision park trust fund. <br />Money in that fund, including accrued interest, shall be used only for the purpose of <br />developing new or rehabilitating existing neighborhood or Community Park or <br />recreational facilities that serve the subdivision for which the fees were paid. <br /> <br />C. Land and improvements accepted by the City pursuant to this Article shall <br />be used only for the purpose of developing new or rehabilitating existing neighborhood <br />or Community Park or recreational facilities that serve the subdivisions for which the <br />fees were paid. <br /> <br />ATTY/ORD/ORD.287 <br />100207 <br /> <br />2319 <br />formerly muff # 305 <br />