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Resolution No. 2016-17 <br />Page 2 of 3 <br />WHEREAS, on June 16, 2015, the City Council held a special meeting to receive <br />and consider a comprehensive study conducted by the City's Harbor Commission <br />regarding various aspects of mooring permits, including, but not limited to, fair market <br />value rental rates; <br />WHEREAS, at the City Council's special meeting, the City Council considered <br />the feedback and ideas gathered during the Harbor Commission's study and outreach <br />meetings, and directed staff to bring back the mooring fair market value rental amounts <br />in this resolution; and <br />WHEREAS, the City Council has considered all documents and comments in the <br />record in connection with this resolution. <br />NOW, THEREFORE, the City Council of the City of Newport Beach resolves as <br />follows: <br />Section 1: The Recitals provided above are true and correct and are <br />incorporated into the substantive portion of this resolution. <br />Section 2: Resolution No. 2010-132 is hereby repealed. The City Council finds <br />that the rent provisions contained in this resolution provide for the charging of fair <br />market value rent and that the rental rate (and adjustments) constitutes fair market <br />value rent for moorings located upon tidelands, which findings are made by the City <br />Council in its exclusive discretion but are based, in part, on the information in the <br />appraisal of its City -selected appraiser and, in addition, on other testimony and <br />documents in the record for this matter. The City Council further finds and determines <br />the rent for moorings located upon tidelands, operating under a permit, shall be set in <br />accordance with the provisions of this resolution. The rent established in this resolution <br />shall only be applicable to permittees with a mooring located over City managed <br />tidelands. The fair market value rent for moorings located upon tidelands in Newport <br />Harbor shall be set and adjusted as follows: <br />Onshore Mooring $17.50* linear foot *Adjusted annually by the U.S. Department of <br />Labor, Bureau of Labor Statistics, Consumer <br />Price Index for All Urban Consumers ("CPI"), <br />Los Angeles -Riverside -Orange County Region <br />or 2%u, whichever is less. <br />The City may conduct a new appraisal of <br />mooring rental rates in Newport Harbor after <br />March 1, 2018, and every fifth (5t') year <br />thereafter, as part of the appraisal required by <br />Resolution No. 2012-96, or any successor <br />resolution. <br />Offshore Mooring $35.00* linear foot <br />