HomeMy WebLinkAbout88-12 - In-Lieu Park Dedication FeeRESOLUTION N0. 885812
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH
ESTABLISHING THE IN -LIEU PARK DEDICATION FEE PURSUANT TO
SECTION 19.50.070 OF THE NEWPORT BEACH MUNICIPAL CODE AND
RESCINDING RESOLUTION NO. 84 -50.
• WHEREAS, Chapter 19.50 of the Newport Beach Municipal Code
establishes a standard of three to five :acres of parkland for each 1,000
•
population expected to reside in a proposed. subdivision; and
WHEREAS, in subdivisions containing less than 50 parcels the
subdivider must pay in -lieu fees equal to the value of the parkland required
for dedication; and
WHEREAS, the City has retained a qualified appraiser to update and
establish the median park value per acre to be used in computing in -lieu
fees; and
WHEREAS, the appraiser has placed a value of $612,833 per acre as
the median value per acre of City -owned parkland to be used in assessing in-
lieu park fees for residential subdivision; and
WHEREAS, Resolution 84 -50 previously establishes said fee, which
Resolution is to be superseded and rescinded hereby; and
WHEREAS, the City Council has reviewed the appraisal report and
determines said amount to be appropriate,
NOW, THEREFORE, BE IT RESOLVED the the City Council of the City of
Newport Beach does hereby establish the amount of $612,833 as the cost per
acre to be used in assessing the in -lieu park dedication fees pursuant to
Chapter 19.50 of the Newport Beach Municipal Code.
BE IT FURTHER RESOLVED that said cost per acre shall be reviewed
and adjusted, if necessary, at least every three years from the date of
adoption of this Resolution to keep current with property appreciation.
rescinded.
BE IT FURTHER RESOLVED that Resolution No. 84 -50 be and hereby is
ADOPTED this 22nd day of February . 1988.
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