Common use of Parkland Dedication Clause in Contracts

Parkland Dedication. Every developer shall be required to dedicate land to the city for public sites, parks and/or open spaces, or make payments in lieu of such land. If the master plan, master neighborhood plan, or official map indicates that public lands are required for the land within the proposed land division, the developer shall dedicate such land to the city. Lands dedicated for the purposes of streets, greenbelts, or other stormwater management facilities shall not be considered part of, or replace the requirement to dedicate lands for public sites, parks, and open spaces. The city shall not compensate the developer for any land so dedicated. If such dedications for public sites, parks, and open spaces is less than 5% of the total land within the proposed land division, the developer shall pay to the CITY a sum equal to 3% of the equalized value of all land within the total proposed land division area less any land so dedicated. The value shall be established by the CITY Assessor as the average per square- foot of equalized value of all residential land within the city at the time of the land division. The CITY may accept, in lieu of such sum, land within the proposed land division of equal value. Notwithstanding the foregoing, DEVELOPER’S provision of private recreation space and community space as set forth in the site plan approved by the CITY will satisfy all requirements under this Section.

Parkland Dedication. Every developer shall be required to dedicate land to the city for public sites, parks and/or open spaces, or make payments in lieu of such land. If the master plan, master neighborhood plan, or official map indicates that public lands are required for the land within the proposed land division, the developer shall dedicate such land to the city. Lands dedicated for the purposes of streets, greenbelts, or other stormwater management facilities shall not be considered part of, or replace the requirement to dedicate lands for public sites, parks, and open spaces. The city shall not compensate the developer for any land so dedicated. If such dedications for public sites, parks, and open spaces is less than 5% of the total land within the proposed land division, the developer shall pay to the CITY a sum equal to 3% of the equalized value of all land within the total proposed land division area less any land so dedicated. The value shall be established by the CITY Assessor as the average per square- square-foot of equalized value of all residential land within the city at the time of the land division. This amount will be $4,174.44. The CITY may accept, in lieu of such sum, land within the proposed land division of equal value. Notwithstanding the foregoing, DEVELOPER’S provision of private recreation space and community space as set forth in the site plan approved by the CITY will satisfy all requirements under this Section.