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<br />. <br /> <br />, <br /> <br />(1) Residential Projects. <br /> <br />. Gross Density in Percentage <br />Dwelling Units per Acre Dedication <br /> <br />o to 2 6% <br /> <br />Over 2 to 3 7% <br /> <br />Over 3 to 4 8% <br /> <br />In excess of 4 10% <br /> <br />(2) Non-Residential Projects or Combination Residential <br />and Commercial Projects. The percentage of dedica- <br />tion for non-residential projects or combination <br />residential/commercial projects shall not exceed <br />10%. <br /> <br />(3) Delineation of Area to be Dedicated. The area to be <br />dedicated for recreation and conservation uses shall <br />be delineated on the proposed plat or otherwise <br />conveyed by easement to the City prior to the <br />issuance of any development permits. <br /> <br />(4) Cash in Lieu of Dedication. In lieu of the dedi- <br />cation of land for recreational and conservation <br />. purposes, the City Council may require the developer <br />to pay to the City, as an equivalent contribution, <br />an amount in cash equal to the percentage of the <br />land required to be dedicated, multiplied by the <br />fair market value of the property at the time of <br />final approval of the development application. The <br />fair market value of the property shall be <br />determined by reference to current appraisal data or <br />sales information. When appraisal data is utilized, <br />the developer shall reimburse the City for the cost <br />of the appraisal prior to the issuance of any <br />development permits. <br /> <br />(5) Installment Payment. The City Council, at its <br />option, may permit the developer to submit 2/3rds of <br />the cash equivalency payment over a period of time <br />pursuant to an Installment Payment Agreement <br />approved by the City's attorney. The Agreement <br />shall require the payment of interest on the unpaid <br />principal; shall require final payment within <br />eighteen (18) months; and shall require security for <br />the unpaid principal portion thereof. The City may <br />withhold development or building permits for any <br />portion of the project if the developer does not <br />comply with the terms of the Installment Payment <br />Agreement. <br /> <br />. 2 <br />