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5.8.4. In -Lieu Park Development Fee. The Owner shall pay an in -lieu park <br />development fee amount equivalent to the Park Dedication requirement. The fee shall be <br />assessed at the value of $35.50 per square foot of area to be dedicated pursuant to the standard <br />established by section 34 -204 et seq. of the Santa Ana Municipal Code, as specified in said <br />City's site plan review letter; provided, however that the fee may he increased yearly beginning <br />twelve months following the effective date of this agreement, by the average rate of increase in <br />land costs in the City of Santa Ana, as that increase is established by the "Construction Cost <br />Index -Los Angeles," published by Engineering News- Record, or substitute index chosen by the <br />Executive Director of Planning and Building should that Index be discontinued. The fee shall be <br />paid prior to issuance of each building permit. The City shall use said fees for new parkland, <br />capital improvements at existing parks, and deferred maintenance at existing parks (up to a <br />maximum of fifty percent of amount of the fee), and seventy five percent (75 %) of said fees shall <br />be utilized by the City in the Quadrant of the City (as set forth in the City's Park A &D Fee <br />program) in which the Project is located. If not used or appropriated this fee shall be returned to <br />Owner, consistent with the provisions of (and subject to the exceptions contained within) the <br />California Mitigation Fee Act, Government Code § 66000 et serf. <br />F. IN <br />F= <br />x* <br />l <br />■ <br />3 <br />l•r- 1?i's-niid-C-iar "icGkntf <br />s4---- iiir' p=- tirvp' EISS� 'l�- ttitittl-�3C- atlf3in5-t$ -ti• Y "Y* D D > ' 11 {1.H3i'�` <br />a{�pr�valb iT Bury r eetitiWO9ireetei- <br />75AI45 <br />