It is found and determined in accordance with subdivision (a), paragraph (2) of the Quimby Act, the general plan, and the Mitigation Fee Act Nexus Report and Quimby Act In-Lieu Fee Report ("report") prepared by Municipal Resource Group, dated August 14, 2012, including Chapter 5, as adopted by the city council, that the amount of existing neighborhood and community park land within the city as calculated pursuant to subdivision (a), paragraph (2) of the Quimby Act equals or exceeds five acres of park land for each one thousand persons residing within the city. It is also found and determined in accordance with the general plan that the public interest, convenience, health, safety and welfare require maintaining a park standard of five acres per one thousand residents. It is further found and determined in accordance with the report that based on the city’s existing park land inventory, a park land dedication standard of 3.4 acres per one thousand residents will maintain a park land standard of five acres per one thousand residents through general plan build out; and that therefore the public interest, convenience, health, safety and welfare require that 3.4 acres of park land for each one thousand persons residing in a subdivision within the city subject to this chapter be dedicated for local park and recreation purposes within city jurisdiction, or that equivalent fees be paid or a combination of both. In accordance with subdivision (a), paragraph (5) of the Quimby Act, it is found and determined that the amount of land to be dedicated, or fees to be paid, bear a reasonable relationship to the use of the park and recreational facilities by the future inhabitants of the subdivision. In accordance with subdivision (a), paragraph (2) of the Quimby Act, the amount of land to be dedicated shall be calculated according to the following formula: