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<br />Recreation Department, at the time of preliminary plat approval, will <br />work with the developers to define the optimum location of the required <br />dedication within the respective plats. Once a park site has been <br />determined, adjacent property owners who develop around the park site <br />shall dedicate land and (or) cash to the existing site unless otherwise <br />determined by the Approving Authority, as provided in section 12.02 <br />herein. <br /> <br />SECTION 12.02 CASH PAYMENT IN LIEU OF LAND <br /> <br />a. A developer responsible for land dedication under this ordinance shall <br />be required, at the Approving Authority's option, to meet the dedication <br />requirements in whole or in part by a cash payment in lieu of land, in the <br />amount set forth below. Such payment in lieu of land shall be made prior <br />to filing the final plat for record, or prior to the issuance of a building <br />permit where a plat is not required. <br /> <br />The cash payment in lieu of land dedication shall be met by the payment <br />of a fee set from time to time by ordinance of the City Council sufficient <br />to acquire neighborhood parkland. Unless and until changed by the City <br />Council, such fee shall be computed on the basis of $490 per dwelling <br />unit. <br /> <br />A cash payment in lieu of land dedication, as set forth in this section, <br />does not relieve the developer of its obligation to pay the park <br />development fee of $318 set forth in Section 12.01 above. The cash <br />payment in lieu of land dedication is in addition to the required park <br />development fee. <br /> <br />The general requirements for dedication of land and payment of park <br />development fees and the cash payment in lieu of land are set forth <br />graphically in Table 1, attached hereto. <br /> <br />b. The City of La Porte may from time to time decide to purchase land for <br />parks in or near the area of actual or potential development. If the City <br />does purchase park land in a park zone, subsequent park land <br />dedications for that zone shall be in cash only, the calculation of which <br />is set forth in Section 12.01 above. Such cash payment is in addition to <br />the payment of the required park development fee. <br /> <br />SECTION 12.03 <br /> <br />SPECIAL FUND <br /> <br />a. All funds collected by this dedication process will be deposited in the <br />City of La Porte's Park Development Fund and used for the purchase or <br />leasing of park land and the development and maintenance of same. All <br /> <br />Page 4 of 6 <br />