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(b) Commercial/ Industrial Development <br /> A parkland dedication fee shall also be charged to commercial and industrial property <br /> development as set annually by the City Council and adopted as part of the City's fee <br /> schedule <br /> (c) Appeal Process <br /> The parkland dedication fee may be appealed to the City Council before the City Council <br /> makes a decision on the final plat and shall be calculated as follows: The percentage of <br /> land to be dedicated will be multiplied by the fair market value of the net buildable <br /> acreage. <br /> The fair market value shall be determined by the City Council, following their review of <br /> a current appraisal submitted to the city at the developer's expense. The appraisal shall <br /> be made by appraisers who are approved members of the SREA or MAI, or equivalent <br /> real estate appraisal societies. <br /> If the city receives written notice of a dispute over the parkland dedication fee before <br /> approval of the final plat, the developer shall pay the fee into an escrow account pending <br /> a decision of an appeal of the fee. If an appeal is not filed within 60 days following <br /> approval of the final plat, or if the person aggrieved by the fee does not prevail on the <br /> appeal, then the funds paid into escrow must be transferred to the city. <br /> SECTION 2. Severability. In the event that a court of competent jurisdiction adjudges <br /> any part of this Ordinance to be invalid, such judgment shall not affect any other <br /> provision of this Ordinance not specifically included with that judgment. <br /> SECTION 3. Effective Date. This amendment shall take effect upon its passage and <br /> publication. <br /> ADOPTED BY THE HUGO CITY COUNCIL ON <br /> Fran Miron, Mayor <br /> ATTEST: <br /> Michele Lindau, City Clerk <br />