Where private open space usable for park or recreational purposes is provided in a planned development, real estate development, stock cooperative and community apartment project, as defined in Sections 11003, 11003.1, 11003.2, 11003.4 and 11004, respectively of the
Business and Professions Code, and condominiums, as defined in Section
783 of the Civil Code, partial credit, not to exceed 50%, shall be given against the requirement of land dedication or payment of fees in-lieu thereof if the Planning Commission finds that it is in the public's interest to do so and that all of the following standards are met:
A. Consistent With the General Plan. The facilities proposed are in substantial conformance with the Parks and Recreation Element of the Live Oak General Plan and any implementing park studies; and
B. Not in Required Open Space. Yards and other open areas required by the zoning and building regulations shall not be included in the computation of such private open space; and
C. Homeowners Association. The private park and recreation facilities shall be owned by an owners association composed of all property owners in the subdivision and being an incorporated nonprofit organization capable of dissolution only by a 75% affirmative vote of the membership and approved by the City, operated under recorded land agreements through which each lot owner on the project is automatically a member, and each lot is subject to a charge for a proportionate share of the expenses for maintaining the facilities; and
D. Minimum Size. The private park or recreation area against which credit will be given shall be at least two acres in size.
(Ord. 539 § 1, 2011)