Upon a determination by the city council pursuant to the provisions of Section 15.62.030 of this chapter that an exaction or dedication may lawfully be required, the extent of such dedication or exaction shall be determined using whichever of the following methods is selected by the owner/developer:

A. The owner/developer may accept the city's determination of the appropriate exaction or dedication as reflected in the schedule adopted pursuant to Section 15.62.040 of this chapter. If an owner/developer accepts the exaction or dedication schedule, the owner/developer shall be deemed to have waived any other options granted under Section 15.62.050(B), (C) or (D) and shall be conclusively presumed to have accepted the standards/formulas of the city of Greenwood Village authorized both in Sections 15.62.020 and 15.62.040 of this chapter.

B. An owner/developer may request in writing to the city manager that an individualized study or report be made relating solely to his property or project in order to determine whether or not dedications or exactions shall be required, and, if so, to determine the extent or amount thereof. Such study or report shall be individualized to the owner/developer's property or project, shall fairly and accurately delineate the needs for public services and facilities which will be generated by the owner/developer's proposed project or improvement, and shall include consideration of the following criteria:

1. Whether the proposed public improvement or facility would be required but for the owner/developer's proposed project or improvement;

2. Whether, and to what extent, it is reasonably likely that other developments or residents thereof will utilize the public facility or improvement in question;

3. Whether existing public facilities or services can adequately serve the proposed project without the additional expense to construct, expand or improve the required facility or service; and

4. Whether the city of Greenwood Village has historically required other owners/developers to dedicate similar property or pay an exaction of a similar type or in a similar amount.

The conclusion of such study or report shall contain a recommendation as to the nature of the dedication(s) or exaction(s) to be required, and the extent or amount thereof. In determining any such extent or amount of dedication or exaction to be required of the owner/developer, a proportion shall be established between the total cost of providing or expanding such necessary public facilities or services, on the one hand, and the amount or extent of such total cost which is attributable to, or is caused or generated by, the proposed development or improvement, on the other hand. The extent of dedication or amount of exaction due from the owner/developer must bear roughly the same proportion to the total cost of providing the public services or facilities in question as the need for the public facility or service generated by the owner/ developer's proposed project or improvement bears to the general population's need for or use of the facility or service.

C. Any owner/developer may prepare or cause to be prepared, at his sole cost and expense, the study or report described in subsection (B) of this section. The report shall be in writing and, upon the submission of such study or report, owner/developer shall pay a fee of one thousand five hundred dollars to offset the review time and costs of the city of Greenwood Village staff in reviewing the study or report. The staff shall review the study or report, and shall comment thereon in writing to the planning commission and the city council. Any disagreement by the staff with any of the findings or conclusions of such study or report shall be delivered in writing to the planning commission and the city council, and shall be specific to the project in question. In the event of disagreement between the staff and the owner/developer as to what dedications or exactions are required, the planning commission shall recommend, after public hearing, an appropriate level of exaction or dedication based upon the owner/ developer's and staff's separate studies or reports to the city council which shall decide the appropriate level of such dedication or exaction. The decision of the city council shall be final, subject only to the right of owner/developer to appeal the same to the Arapahoe County District Court.

D. Upon the express request of the owner/developer, which request shall be made in writing upon a form provided by the city of Greenwood Village, the staff of the city of Greenwood Village shall, upon the payment of a fee of one thousand dollars per acre, but in no event less than two thousand dollars, undertake the study described in subsection (B) of this section. The staff shall submit such written report to the owner/developer as well as the planning commission and the city council. The owner/developer may agree with the provisions thereof, in which case the same shall be submitted to the planning commission and the city council as a joint finding and recommendation. However, if the owner/devel-oper disagrees with all or any part of the staff's report, the owner/developer may, at his sole expense, submit a written report detailing the owner/developer's findings with regard to the criteria set forth in subsection (B) of this section, and shall submit the same to the planning commission and the city council. The planning commission and the city council shall consider such reports at all required public hearings, and the city council shall ultimately decide whether an exaction or dedication is required, and if so, the extent or amount of such exaction or dedication. The decision of the city council shall be final, subject to the owner/developer's right to appeal to the Arapahoe County District Court. (Ord. 1998-6 § 1; Ord. 1997-10 § 1 (part))