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Open space formula: number of units x persons per household x 108.9 sq. ft./person = square footage of open space. Any land to be dedicated as a requirement of this section shall be reasonably adaptable for use as a vest-pocket park, neighborhood park and playground playfield, or community park. Factors used in evaluating the adequacy of proposed park areas shall include size and shape, topography, geology, tree cover, access, and location. If the recreation district board recommends, and/or the board of trustees determines, that dedication of land in conjunction with any one development is impractical or undesirable, the owner shall pay cash in lieu of open space prior to final plat approval by the board of trustees. The board shall deposit cash so received into a recreation fund established for this purpose. The amount of cash payment shall be determined by multiplying the square footage of the area required to be dedicated by this title by the park land acquisition multiplier ($/sq. ft. of land). The multiplier shall be determined by the board of trustees during the first month of each year; in establishing this multiplier, the board shall consider the actual selling price of undeveloped residentially zoned land during the preceding year.
Payment of Fees for Park Development. In order to satisfy these requirements, the owner of any land to be subdivided or pending PUD approval shall pay fees to defray park land development, based upon the following formula: number of units x persons/household (as determined in paragraph b of subdivision 1 of this subsection) x 108.9 sq. ft./person x the park development multiplier. The park development multiplier is the average cost, (estimated and established during the first month of each year by the board of trustees, after recommendation by the recreation district board), to develop one square foot of land for active recreational purposes in the Town. Such fees shall be paid at/or prior to the time application is made for a building permit. If development exists on any site pending annexation, then fees for park development may be required prior to the time an annexation ordinance is considered on first reading. Failure to pay required fees may be considered grounds for the Town to withhold approval of the petition for annexation, or of any building permits for construction in the annexed areas.
Accounting of Fees. The fees paid to the Town shall be separately accounted for in the permanent Parks & Recreation Fund, and shall be used for the purpose of acquiring and developing new parkland, and broadening the recreational opportunities and development of existing parks in the neighborhood serving the needs of additional town residents.
Waiver of Fees. The parkland acquisition or development fee, or a part of it, may be waived by the board of trustees, after considering recommendations by the board of directors of the Western Rio Blanco Metropolitan Park and Recreation District, under the following circumstances: a. When sufficient public recreational areas, acceptable to the town, not including yards, setbacks or any other open areas required by zoning and building regulations, have been provided by the building permit applicant, and the perpetual use of such recreational areas by the public has been assured by agreements. When sufficient number of public recreational facilities, such as swimming pools, tennis courts and ball fields, which meet the standards as adopted by the board of directors of the Western Rio Blanco Metropolitan Park and Recreation District, are provided by the building permit applicant, and the perpetual use of such facilities by the public has been assured by agreements. In the event such facilities are provided, but are private in nature, no more than fifty percent (50%) of the fees may be waived.