§ 7-1.814. Consideration in Lieu of Assessment.

The provisions of Section 7-1.811 to the contrary notwithstanding, upon application by the landowner or his authorized agent, the City Council may accept consideration in lieu of the facilities benefit assessments required pursuant to this article, provided the City Council, upon recommendation of the City Manager, finds that the substitute consideration proposed:

(1)

Has a value equal to or greater than such facilities benefit assessments;

(2)

Is in a form acceptable to the City Council and

(3)

Is within the scope of the public facilities project.

The City Council may accept consideration in lieu of the facilities assessments required pursuant to this article where the City Council finds that the substitute consideration proposed is less than the value of such facilities benefit assessment after payment of an amount equal to the difference between the value of the substitute consideration as determined by the City Council and the amount of such facilities benefit assessments.

(Added by Ord. 2432-C.S., § 1, effective 7-10-86)