As a condition of subdivision or condominium plan approval pursuant to Section 51.1, or the giving of a provisional consent pursuant to Section 53 of the Planning Act, the owner is required to convey the following:
- In the case of lands proposed for commercial or industrial purposes, land calculated on the basis of two percent (2%) of the land to be subdivided; and
- In case of lands proposed for use for residential or purposes other than specified in Section 3 a) of this By-law, five per cent (5%) of the land to be subdivided.
The Township may, in lieu of accepting conveyance, require the payment of money in lieu to the value of land otherwise required to be conveyed.
For a plan of subdivision or condominium, the value of the land shall be determined as of the day before the day of the approval of the draft plan.
For a consent, the value of the land shall be determined as of the day before the day the provisional consent was given.
Payment in lieu may, at the sole discretion of the Township, satisfy part, or all, of the dedication requirement.
The Township may establish a standard fee for parkland dedication through the current Fees and Charges By-law, however at the discretion of the Township the applicant may be required to have the lands appraised under Section 17, and the applicant may be required to pay the higher of 5% of the appraised value and the applicable fee.