A. Upon request of the governing board, the city council shall impose as a condition of approval of a residential development containing more than fifty parcels that the applicant dedicate to the governing board a parcel of land to be used as a site for classroom facilities, whose location is consistent with the city general plan. Except as may otherwise be agreed between the school district and the subdivider, the fair market value of land so dedicated shall not exceed the amount of fees which would otherwise be paid for approval of residential development of the dedicated parcel to the high density of any other portion of the applicant’s residential development.

B. In case land is dedicated in connection with approval of a subdivision, the fair market value of the land at the time of such approval shall be established by agreement between the governing board of the school district and the subdivider, and the amount thereof shall be reported to the planning director; and if they cannot agree, they shall report that fact to the city council, which shall establish such fair market value after a public hearing, noticed as provided in Section 15.70.040.

C. The planning director shall ascertain the amount of fees which are, or would be, payable as a condition to approval of the subdivision under the standards adopted by the city council.

D. Except as may otherwise be agreed between the school district and the subdivider, if the fair market value of the land, as determined under subsection B of this section, exceeds the amount of fees ascertained under subsection C, at such time as approval of the tentative map and the acceptance of the dedication have both been completed, the school district shall pay the subdivider the amount by which such fair market value exceeds the amount of such fees so ascertained.

E. If the school district pays the subdivider the amount of the excess mentioned in subsection D of this section, the amount to be credited to each lot in the subdivision shall be based on the amount ascertained under subsection C of this section, instead of the fair market value of the land.

F. If the fair market value of the land, as determined under this section, is equal to or less than the amount ascertained under subsection C of this section, the amount of such value shall be credited to the respective lots in the subdivision.

G. The provisions of this section shall also apply in case land is dedicated in connection with approval of a mobile home park, in which case references to subdivision shall mean mobile home park and references to lots shall mean mobile home sites.

H. If land is dedicated to a school district for a fixed or ascertainable term, there shall be established under this section the fair rental value of a lease of such land for such term, and the amount so established shall be applied in lieu of fair market value wherever mentioned in this section.

I. At any city council hearing for the purpose of establishing fair market value of land, as mentioned in subsection C, the city council shall consider the reports of three appraisers, one to be selected by the school district, one to be selected by the subdivider, and one to be selected by the two selected by the district and the subdivider. The fees and expenses of such appraisers shall be divided equally between and paid by the school district and the subdivider, and in any case the city shall not be liable therefor. (Ord. 2780 § 1, 1982)