§ 22-38. Payment of fees in lieu of park land dedication.

(a)

If the calculation for required park land within the proposed subdivision development results in less than five (5) acres or does not meet criteria as per section 22-41, the parks and recreation department shall determine the amount of a fee in lieu of park land dedication in accordance with this section.

(b)

The amount of the fee in lieu of park land dedication shall be calculated as follows. The Department first shall determine the total amount of land required to be dedicated in accordance with section 22-37. The value of the land shall be calculated as the average estimated fair market value per acre of the land being subdivided at the time of preliminary plat approval, reduced by the value of any land actually to be dedicated for park purposes. The net value of the land otherwise to be dedicated shall be apportioned among the total number of dwelling units proposed for the residential subdivision and by dwelling unit type.

(c)

If the developer/owner objects to the fair market value determination, the developer/owner, at his own expense, may obtain an appraisal of the property by a state certified real estate appraiser, mutually agreed upon by the city and the developer/owner, which appraisal will be considered by the city in determining fair market value. All costs required to obtain such appraisal shall be borne by the developer/owner.

(d)

Park dedication fees shall be imposed at the time of preliminary plat approval. Fees shall be paid prior to release by the city of any final plat for filing in the deed records of Denton County. Park dedication fees established for the preliminary plat shall apply to subsequent approved final plats for a period of two (2) years from the date of preliminary plat approval by the planning and zoning commission. Thereafter, park dedication fees shall be redetermined and applied to final plats in accordance with subsection (b), using current appraised value of land in the subdivision at time of final plat submittal.

(e)

All fees collected shall be used for the acquisition of land for a neighborhood park, or development or construction of improvements to existing park land, within one-half (½) mile of the periphery of the proposed subdivision development. However, if [1] such acquisition opportunities are not available, or [2] existing park land is already developed or improved, within one-half (½) mile of the proposed subdivision development, then areas within one (1) mile of the periphery of the proposed subdivision development may be considered for the acquisition, of neighborhood park land and/or construction of improvements to existing park land within such periphery.

(Ord. No. 98-039, § I, 2-17-98)