Park Dedication and Fee Credit Sample Clauses

Park Dedication and Fee Credit. MS and Citation agree to offer to dedicate the land to the City as shown on their respective Tentative Subdivision Maps as the Public Park site. No land dedicated for the Public Park site shall be encumbered or made subject to a CFD (including, without limitation, any CFD to be formed pursuant to Section 3.2.7 above). The Parties acknowledge that said Public Park site dedication may be required prior to approval or recordation of final subdivision maps, in which case the land may be transferred to the City via legal description. In exchange for dedicating such land, MS and Citation shall each receive a fee credit from the City against their respective TASP Fee obligations, pursuant to Section 5(B)(2) of City of Milpitas Resolution No. 7778 (September 2, 2008), as amended, for each square foot of the Public Park site that is dedicated from the MS Xxxxxxx (as to MS) and the Citation Parcel (as to Citation). Such credit shall be referred to herein as the “Park Land Fee Credit”. SI shall not receive any such dedication credit.
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