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ORDINANCE NO. 117 <br />AN ORDINANCE OF THE CITY COUNCIL OF THE TOWN <br />OF LOS ALTOS HILLS AMENDING ORDINANCE NO. 116 <br />OF SAID TOWN BY AMENDING THE PROVISIONS OF <br />SAID ORDINANCE RELATING TO THE AMOUNT OF LAND <br />TO BE DEDICATED AND THE AMOUNT OF FEE TO BE <br />PAID IN LIEU OF LAND DEDICATION <br />THE CITY COUNCIL OF THE TOWN OF LOS ALTOS HILLS DOES HEREBY <br />ORDAIN AS FOLLOWS: <br />SECTION 1. Ordinance 116 of the Town of Los Altos Hills, <br />adopted by the City Council of said Town on the 3rd day of October, <br />1966 is hereby amended by amending Sections 6 and 7 of said Ordinance <br />to read, respectively, as follows: <br />"SECTION 6. AMOUNT OF LAND TO BE DEDICATED The amount <br />of land required to be dedicated by a subdivider pursuant to this <br />Ordinance, shall be one-eightith (1/80) of an acre for every dwelling <br />unit in the subdivision. <br />"SECTION 7. AMOUNT OF FEE IN LIEU OF LAND DEDICATION Where <br />a fee is required to be paid in lieu of land dedication, the amount of <br />such fee shall be equal to the fair market value of the amount of land <br />which would otherwise be required to be dedicated pursuant to Section <br />6 hereof. "Fair market value" shall be determined as of the time of <br />filing the final map in accordance with the following: <br />(a) The fair market value as determined by the <br />City Council based upon the then assessed value, modi- <br />fied to equal market value in accordance with current <br />practice of the County assessor; or <br />(b) If the subdivider objects to such evaluation <br />he may, at his expense, obtain an appraisal of the <br />property by a qualified real estate appraiser approved <br />by the City, which appraisal may be accepted by the <br />City Council if found reasonable; or <br />(c) The city and subdivider may agree as to the <br />fair market value." <br />LAGORIM & FAIMANT <br />L wLTOe •CA LI F. <br />-I- <br />