3.58.050 CREDIT FOR PRIVATE OPEN SPACE.

Where private open space for park and recreational purposes is provided in a proposed residential development and such space is to be privately owned and maintained by the future residents thereof, such areas shall be credited against the requirement of tax to be paid, as set forth herein, provided the City Council, giving due consideration to the recommendations of the Planning Commission, determines it is in the public interest to do so, and the following standards are met:

(a) Yards, court areas, setbacks and other open areas required to be maintained by the zoning and building regulations shall not be included in the computation of such private open space;

(b) The private ownership and maintenance of the open space is adequately provided for by written agreement;

(c) The use of the private open space is restricted for park and recreational purposes by recorded covenants which run with the land in favor of the future owners of property within the tract and which cannot be defeated or eliminated without the consent of the City Council;

(d) The proposed private open space is reasonably adaptable for use for park and recreational purposes, taking into consideration such factors as size, shape, topography, geology, access, and location of the private open space land, and

(e) Facilities proposed for the open space are in substantial accordance with the provisions of the park and recreation element of the general plan.

In no event shall the amount of credit granted hereunder exceed fifty percent of the amount of tax imposed hereby.