Includes all monetary and nonmonetary gifts, bequests, equipment, land, buildings, tangible or intangible assets, or any other asset with any level of market value. The term is not intended to include dedications which are part of the normal development process.[1]
The person, firm, or corporation submitting any item of value to the city or economic development board with the intent to transfer full ownership over to the city or economic development board.
[1]
Official comment: An example of the exclusion would be the acceptance of a road dedication for a subdivision development. Such dedications and acceptances are regulated by the city's Uniform Development Code and are not intended to fall under this article.