1. The land dedication requirement or the payment of fees in lieu of land dedication as set forth in Larkspur Municipal Code Sections 17.13.040 and 17.13.050 or as previously set forth in the Larkspur Municipal Code under the provisions of Government Code Section 664177, the Quimby Act;

2. The payment of park improvement fees as set forth in Larkspur Municipal Code Sections 17.13.090 and 17.13.100. This fee shall be used to pay for park land acquisition and improvements including but not limited to frontage and off-site improvements as described in Larkspur Municipal Code Sections 17.13.030 and 17.13.040 and landscaping and installation of recreational facilities as described in Larkspur Municipal Code Section 17.13.090. The fee shall be determined by the following formula.

DUs × Pop/DU × Park acreage dedication standard/1,000 people × (FMV × x% + IC)/acre = Fee

where

DUs = Number of dwelling units as defined in Larkspur Municipal Code Section 17.13.040.

Pop/DU = Population per dwelling unit.

Park acreage dedication standard = the adopted amount of park land and park development per one thousand (1,000) residents that is required pursuant to this article, as determined by City Council resolution as set forth in Larkspur Municipal Code Section 17.13.030.

FMV = Fair market value per buildable acre as determined by Larkspur Municipal Code Section 17.13.080.

Buildable acre = a typical acre of the subdivision with a slope less than ten (10) percent and located in other than an area on which building is excluded because of flooding easements or other restrictions.

x% = the ratio of the cost of land acquisition and frontage improvements to the FMV.

IC = improvement cost per acre of park and recreational facilities. Improvement costs per acre shall be determined as set forth in Larkspur Municipal Code Section 17.13.100.