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IV-B-7-b-6. Pa meets in Lieu of Dedication [Page 441 <br />Any subdivider required to dedicate recreation area pursuant to this <br />Ordinance may, with the approval of the Board of Commissioners, make a <br />payment in lieu of dedication or make a combination of land dedicate_ d <br />and payment Before approving a payment in lieu of dedication, the <br />Board of Commissioners shall find that no recreation and /or open space <br />sites have been designated an the adopted Comprehensive plan for the <br />Property in question. <br />The payment in lieu of dedication shall be equal to $422 per lot for a <br />subdivision to be located in the service area of a community park as <br />shown on the map in Appendix E. The payment in lieu of dedication shall <br />be equal to $455 per lot for a subdivision to be located in the service area <br />of a district - park as shown on the map in Appendix E. <br />Where a combination of land dedication and payments in lieu are <br />approved, the subdivider shall be given a credit equivalent to $10,000 per <br />acre of land dedicated for recreation purposes. The credit amount shall <br />be determined by multiplying the number of acres to be dedicated by <br />$101000 per acre. If the total payment in lieu as determined above is <br />larger than the credit amount, the subdivider shall pay the difference <br />between the two amounts. If the credit amount is larger than the total <br />payment in lieu as determined above, no additional payment in lieu is <br />required. However, the subdivider may not transfer the excess credit <br />from one subdivision to another. <br />Upon approval of the Board of Commissioners, payment in lieu of <br />dedication shall be made at the time of final subdivision plan approval or <br />within one (1) year of approval of the preliminary subdivision plan, <br />whichever occurs first All monies received by Orange County pursuant <br />to these requirements shall be used only for the acquisition and <br />development of recreation, park and open space sites to serve the <br />residents of the development and the residents of the immediate <br />neighborhood within which the development is located. The Board of <br />Commissioners shall also have the authority to sell land dedicated <br />Pursuant to these provisions with the proceeds of any such sale used <br />solely for the acquisition of other recreation, park or open space sites <br />within the immediate neighborhood within which the development is <br />located. <br />12 <br />