[§302A-1606]  Impact fee:  land component - determining
the amount of land or fee in lieu.  (a)  The area requirements for new
school facilities shall be determined based on the recent school construction
averages.



(b)  The procedure for determining whether the
dedication of land is required or a payment of a fee in lieu is required for a
new school facility shall be as follows:



(1)  A new residential development of greater than or
equal to fifty units, shall include a written agreement, prior to the issuance
of a building permit, between the owner or developer of the property and the
department, under which the owner or developer has:



(A)  Agreed to designate an area to be
dedicated for one or more schools for the development, subject to approval by
the department; or



(B)  Agreed to pay to the department, at a time
specified in the agreement, a fee in lieu of land dedication;



(2)  New residential developments of less than fifty
units shall include a written agreement, between the owner or the developer of
the property and the department, under which the owner or developer has agreed
to a time specified for payment for the fee in lieu prior to the issuance of
the building permit;



(3)  Prior to approval of any subdivision, change of
zoning, or any other approval for a:



(A)  Residential development equal to or
greater than fifty units; or



(B)  Condominium property regime development of
fifty units or more,



the department shall notify the approving agency
of its determination on whether to require the dedication of land, the payment
of a fee in lieu thereof, or a combination of both;



(4)  When land dedication is required, the land shall
be conveyed to the State upon completion of the subdivision improvements and
any offsite infrastructure necessary to serve the land;



(5)  When the payment of a fee in lieu is required,
the fee in lieu shall be paid based on the terms contained in the written
agreement;



(6)  Whether the department determines to require land
dedication or the payment of a fee in lieu, shall be guided by the following
criteria:



(A)  The topography, geology, access, value,
and location of the land available for dedication;



(B)  The size and shape of the land available
for dedication;



(C)  The location of existing or proposed
schooling facilities; and



(D)  The availability of infrastructure; and



(7)  The determination of the department as to whether
lands shall be dedicated or whether a fee in lieu shall be paid, or a
combination of both, shall be final.



(c)  In determining the value per acre for any
new residential development, the fee simple value of the land identified for
the new or expanded school facility shall be based on the appraised fair market
value of improved, vacant land, zoned for residential use, and serviced by
roads, utilities, and drainage.  An appraiser, licensed pursuant to chapter
466K, who is selected and paid for by the developer, shall determine the value
of the land.  If the department does not agree with the developer's appraisal,
the department may engage another licensed appraiser at its own expense, and
resolve, through negotiation between the two appraisers, a fair market value. 
If neither party agrees, the first two appraisers shall select the third
appraiser, with the cost of the third appraisal being shared equally by the
department and the developer, and the third appraisal shall be binding on both
parties.



(d)  The developer or owner of new residential
developments of greater than fifty units shall either pay the in lieu fee based
on the land value as determined in subsection (c) or convey appropriate acreage
as determined in subsection (b).  When conveying the fee simple interest for
the new or expanded school facility, the developers shall be credited the
difference between the fair market fee simple value of the property and the
developers' proportionate share of the value of the land as determined in
subsection (c) against any impact fees for construction.  Any excess may be
transferred and used as credit against any future land or construction cost
requirements on any other development of the State.



(e)  The dollar amount of the fee in lieu shall
be determined using the following formula:



Acres
of land calculated according to subsection (b) multiplied by the value per acre
of land determined pursuant to subsection (c). [L 2007, c 245, pt of §2]