Recreation/Park Donation Sample Clauses

Recreation/Park Donation. The Owner shall dedicate to the City the Park Property as depicted on Exhibit “B” and as set forth in this Development Agreement. The Park Property will be improved by the City and used by the City as a nature park in accordance with the following conditions: (1). The Owner shall convey the Park Property to the City by deed, as set forth in the Settlement Agreement. (2). The City shall award recreation impact fees credits to the subject property upon conveyance of the Park Property to the City as set forth herein. The current City recreation impact fee is $1229.60 per unit. The maximum number of single-family residential units permitted under this Development Agreement is sixty-nine (69). The value of the Park Property is equivalent to the recreation impact fees that would be due as a result of the development of the subject property into sixty-nine (69) single-family residential units. Notwithstanding the per lot amount of the recreation impact fee credit set forth above in this subsection, Owner shall receive impact fee credits based on the recreation impact fee per unit charged by the City at the time the building permit(s) is or are issued for the Subject Property, or parts thereof. It is the intent of the parties that no recreation impact fees be due to the City in connection with any of the sixty-nine (69) single-family residential units permitted under this Development Agreement, due to the value of the Park Property to be conveyed to the City. The credit shall not be effective until the City accepts conveyance of the Park Property. The recreation impact fee credit may only be used for recreation impact fees resulting from development of the Project on the subject property. (3). Upon conveyance of the park tract to the City, all City recreational levels of service for activity/resource based recreation area for the subject property shall be deemed satisfied. (4). The City shall develop, at its sole expense, the Park Property as a “Nature Park” facility. For purposes of this Development Agreement, a Nature Park is a facility that is limited to passive and daytime oriented activities and provides passive recreational and environmental educational opportunities for the public. A Nature Park may include tot lots, picnic pavilions, nature observatory structures, unobstructed play areas, parking facilities, pedestrian, or exercise trails.
Sample 1
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Related to Recreation/Park Donation

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