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21.40.130 — In -Lieu Parking Fee <br />The number of parking spaces required by Section 21.40.040 (Off -Street Parking Spaces <br />Required) may be reduced pursuant to an adopted Parking District Management Plan if the <br />review authority authorizes the use of an in -lieu fee to be paid by the applicant towards the <br />development of public parking facilities and/or implementation of a non -automobile circulation <br />system. The in -lieu fee shall be paid to the Citywide Parking Improvement Trust Fund. The <br />amount of the fee and time of payment shall be established by Council resolution and shall be <br />commensurate with actual market value cost for the provision of off-street parking space. <br />2 .4v.45 Preferential Parking Zones <br />A. Establishment. The Gity GOURGil may e by e <br />residents adjaGent thereto, on whiGh zone vehiGles displaying a permit or ether autherized <br />0 ndiGia may be exempt frern parking rp-rehibitions or reStriGtiens otherwise posted, mar <br />OF RE)ttGed. <br />Newport Beach LCP Implementation Plan <br />Page 21.40-16 <br />11-320 <br />