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Draft <br /> 3/24/99 <br /> development or subdivision, including the purchase of land which may be used to <br /> serve more than one subdivision or development within the immediate area . <br /> § 160A- 372 , City/Town Subdivision Ordinance Provision <br /> providing for dedication /Paymentdn - lieu <br /> The ordinance may provide that a developer may provide funds to the city whereby the <br /> city may acquire recreational land or areas to serve the development or subdivision, <br /> including the purchase of land which may be used to serve more than one subdivision or <br /> development within the immediate area. All funds received by the city pursuant to this <br /> paragraph shall be used only for the acquisition or development of recreation, park, or <br /> open space sites. Any formula enacted to determine the amount of funds that are to be <br /> provided under this paragraph shall be based on the value of the development or <br /> subdivision for property tax purposes. The ordinance may allow a combination or <br /> partial payment of funds and partial dedication of land when the governing body of the <br /> city determines that this combination is in the best interests of the citizens of the area to <br /> be served. <br /> 26 <br />