§ 82-277. Calculation of in lieu fees.

Where the advisory agency or board requires the payment of in lieu fees, the amount to be paid shall be a sum calculated pursuant to the following formula:

A × V = M

where,

A	=	the amount of land required for dedication as determined by Section 22.40.035 [82-276] or 22.40.045 [82-278];
V	=	fair market value (per acre) of the property to be subdivided, as established by an appraisal at the time of payment, by the office of the county assessor, based on the proposed land use; and
M	=	the number of dollars to be paid in lieu of dedication of land.

 

(Ord. No. 97-01, § 2(22.40.040), 1-2-1997; Ord. No. 97-13, § 2, 3-26-1997; Ord. No. 97-17, § 2, 9-24-1997)