HomeMy WebLinkAbout9542 - In-Lieu Park Dedication FeesRESOLUTION NO. 9542
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
• OF NEWPORT BEACH ESTABLISHING THE COST PER
ACRE TO BE USED IN ASSESSSING IN -LIEU PARK
DEDICATION FEES
WHEREAS, Chapter 19.50 of the Newport Beach Municipal
Code established a standard of 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 establish the median park value per acre to be used in computing
in -lieu fees; and
WHEREAS, the appraiser has placed a value of $162,221
per acre as the median value per acre of City -owned parkland
to be used in assessing in -lieu park fees for residential subdi-
visions; and
WHEREAS, the City Council has reviewed the appraisal
report and determines said amount to be appropriate,
NOW, THEREFORE, BE IT RESOLVED that the City Council of
r the City of Newport Beach does hereby establish the amount of
$162,221 as the cost per acre to be used in assessing the in -lieu
•
0
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 every three years from
the date of adoption of this resolution.
ADOPTED this 23rd day of April , 1979.
ATTEST:
1
City Clerk
C,RTIEIED AS T O,.IGINAL
........... ..............` . .........._......_^.._......... .__.._
CITY CLERK OF THE CITY OF NEWFO�T :ACH
DATE:
APR 3 0 1979
-2-
DDO /kb
4/24/79