A. The owner or owners of each new residential subdivision in the city or of a new phase of a phased residential subdivision may voluntarily agree to convey land (to include, at the option of the owner, park improvements thereon) to the city for use as a neighborhood park in the subdivision.

B. The land (and improvements) are subject to the determination of the city manager that the land (and improvements) are suitable for neighborhood park purposes.

C. In addition, the value of transferred land (and improvements) is subject to the reasonable agreement of the city manager based upon the value of the land, improvement materials, and reasonable labor cost of installation and/or construction.

D. The city manager’s determinations or method for determination may be set out in the subdivision agreement.

E. The agreed-upon value of the land (and improvements) shall be a credit belonging to the owner of the subdivision that may be used, to include by assignment, to offset the neighborhood park development fees arising out of development in the subdivision, including other phases of the subdivision where applicable. The credit is not valid to offset the fees in areas other than the subdivision. If the amount of the credit is greater than the amount of the neighborhood park development fees arising out of development in the subdivision, including other phases of the subdivision, the owner or assignee(s) are not entitled to any rebate or refund of the excess credit. However, the owner may, with the written approval of the city manager, declare any amount of the agreed-upon value of the property conveyed to the city to be a gift to the city. The portion of the value declared to be a gift shall be deducted from the agreed-upon value of the property to determine the amount of the credit belonging to the owner.

F. Subject to council approval, the city may agree to buy a lot in a subdivision to be designated as a park. Subject to owner approval, the city may pay for the property in cash or partly in cash and partly in neighborhood park development fee credits.

G. For any property conveyed to the city under this section, upon conveyance of the property to the city, the city agrees to designate the land as neighborhood park land. The city may, but need not, improve the property. The city may leave the property in its natural state for use as a park. (Ord. 603 § 4, 2003)