HomeMy WebLinkAbout84-50 - In-Lieu Park Dedication FeeRESOLUTION NO. 84 -50
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. 11036
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 subdivisions 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
dedications 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 $447,008 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 11036 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Resolution is to be superseded and rescinded hereby; and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 $447,008 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. 11036 be and hereby is
rescinded.
ADOPTED this 11th day of June , 1984.
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