HomeMy WebLinkAbout11036 - In-Lieu Park Dedication FeeRESOLUTION NO. 11036
• 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. 9542
WHEREAS, Chapter 19.50 of the Newport Beach Municipal
Code established a standard of five acres of parkland for each
11000 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 $298,486
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 9542 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fee, which Resolution is to be superseded and rescinded hereby;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 that the City Council of
the City of Newport Beach does hereby establish the amount of
$298,486 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.
BE IT FURTHER RESOLVED that Resolution No. 9542 be and
hereby is rescinded.
ADOPTED this 24 day of August , 1981.
ATTEST:
City Clerk
2
POP
HRC /pr
8/10/81