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072 , <br /> Subdivision Regulations. Section IV-V-7-b-6 requires that a payment-in-lieu be equal to the <br /> number of acres required to be dedicated multiplied by the fair market value of the land to be <br /> dedicated. Because of the linkage between "dedication" and "payment-in-lieu", the derivation of <br /> each element is discussed below. <br /> Dedication Formula <br /> Orange County's formula for the amount of land to be dedicated is contained in Section IV-B-7- <br /> b-2. <br /> At least one thirty-fifth (1135) of an acre shall be dedicated for each dwelling unit planned or <br /> provided for in the subdivision plan, except where land is located in the floodplain of a stream <br /> or river as indicated by the floodplain maps of the Federal Insurance Administration and/or is <br /> characterized by steep slopes (IS% or greater), then at least one twentieth (1120) of an acre of <br /> such land shall be dedicated for each dwelling unit. <br /> Origin. The above formula was derived in part from the dedication/payment-in-lieu provisions of <br /> the Town of Cary, particularly the latter portion requiring a higher proportion of land dedication <br /> where the land was characterized by floodplains and/or steep slopes. The purpose of the provision <br /> was to serve as a disincentive and insure, insofar as possible, that "high and dry" land would be <br /> made available for recreation purposes. <br /> The"1/35" standard was derived from the following formula: <br /> A=NxPxR <br /> where A= Area, in acres, of the land required to be dedicated for recreation purposes in the <br /> subdivision; <br /> N= Number of lots or dwelling units proposed in the subdivision; <br /> P = Population or average family size according to the latest decennial census for the <br /> township in which the subdivision is located; <br /> R= Ratio equivalent to 0.01050 or 10.50 acres of developed open space per 1,000 <br /> population as recommended by the National Recreation & Parks Association <br /> (NRPA) as the upper limit of the minimum standard for establishment of a "core" <br /> system of park lands, including the following: <br /> • Mini-parks, based on a standard of 0.5 acres per 1,000 population; <br /> • Neighborhood parks, based on a standard of 2.0 acres per 1,000 population, <br /> and <br /> • Community parks, based on a standard of 8.0 acres per 1,000 population. <br />