§ 17.68.090. Calculation of fees in-lieu of park dedication.

As established in 17.68.080(A)(v), the City may accept cash payments in-lieu of the dedication of park land. The amount of the payment required will depend on the value of the land, which may be determined using either of the two methods described below.

A.

Appraisal . The applicant may submit a current, which for this purpose means made within the past year, appraisal of the un-subdivided, unimproved land proposed for subdivision to serve as a basis for the calculation of fees to be paid in lieu of park land dedication. Such appraisals shall be prepared by an appraiser who is licensed and certified to practice in the State of Montana pursuant to Mont. Code Ann. 37-54-101, et seq.

B.

Formula . The City Commission may, by resolution, adopt a standard formula for payments to be made in-lieu of the dedication of park land. If adopted, applicants may choose to base their payment in-lieu on this formula rather than submitting an appraisal. The adopted formula shall be reviewed and, if necessary, revised to reflect current land values at least every three years.

C.

Use . The Fiscal Services Department will establish procedures by which payments accepted in-lieu of dedications are tracked and it can be shown that those payments have been expended in compliance with the requirements of this code and Mont. Code Ann. 76-3-621.

(Ord. No. 3130, § 1(Exh. A), 5-19-2015)