§ 23-226. Acceptance of developer donations, dedications, contributions, etc.

a. The city commission shall accept all donations or dedications of roads, sidewalks, water and sewer improvements, land or other developer contributions  by enacting a resolution that includes the following:

1. The location of donated or dedicated land or improvements, if any.

2. The value of donated or dedicated land, if any; said value shall be based upon a written appraisal of fair market value by a qualified and professional appraiser based upon comparable sales of similar property between related parties in the bargaining transaction.

3. The value of donated or contributed capital facilities or infrastructure, if any; said value shall be actual construction costs.

4. The value of donated or contributed apparatus and equipment, if any; said value shall be actual cost.

5. The date of dedication.

b. All statements of value by the developer shall be supported by itemized documents showing construction cost of improvements to be dedicated. All cost documents shall be signed and sealed where appropriate.

c. A copy of the resolution accepting and stating the value of developer donations, dedications or other contributions shall be forwarded by the administrative official to the finance director. The finance director shall adjust the value of the city's fixed assets to reflect the value of said donations, dedications or other contributions.

(Ord. No. 2015-04, § 5, 7-7-15)