It works for me! Open the cheat box and type just that, for example
setImportedTerrainOffeset 3
the 3 there will raise the height of the block of Lot you are installing. If you want to lower it, say to sea-level, use a negative number so
setImportedTerrainOffeset -3
when you've typed this, then install the lot as normal.
The only lots this doesn't work for me on are the community lots that came with Katy Perry. I have no idea why, but they usually seem to be flooded. And for a small park, that doesn't feel right to me!