A. When a fee is to be paid in lieu of land dedication for neighborhood parks, the amount of such fee shall be calculated using the following formula:

B. When a fee is to be paid in lieu of land dedication for community parks, the amount of such fee shall be calculated using the following formula:

Determination of Fair Market Value: A determination of fair market value shall be based on comparable sales data within the city as shown in Part III, Chapter Two of the Wasco Urban Greening, Parks, and Open Space Master Plan. Fair market value shall be based on a minimum of three and maximum of six vacant land parcels that “can be reasonably used for parkland purposes” (Gov. Code 66477(a)(5)). In the event that the developer and the city cannot agree to the fair market value of vacant land parcels that “can be reasonably used for parkland purposes,” the fair market value shall be determined by the city and the developer obtaining a certified real estate appraisal of the specific land parcel to be developed at the expense of the developer.

C. Later modifications would be subject to fee adjustments as outlined in the applicable portions of this chapter.

D. Only the payment of fees may be required in development projects containing fifty parcels or less, and only payment of fees will be required for a condominium project, stock cooperative, or community apartment project.

Nothing in this section shall prohibit the dedication and acceptance of land for park and recreation purposes in development projects of fifty or fewer lots, or condominium projects, stock cooperatives, or community apartment projects containing fifty or fewer dwelling units, where the developer proposed land dedication voluntarily, and the land otherwise meets the requirements of the Wasco Urban Greening, Parks, and Open Space Master Plan adopted July 15, 2014. (Ord. 646 §1, 2014).