HomeMy WebLinkAboutReso 98-175 - Establishing Fair Market Values for Various Types of Residential Lands- and the resultant In-Lieu fees .t . y �,
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RESOLUTION NO. 9s- 175
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
REDDING ESTABLISHING FAIR MARKET VALUES FOR
VARIOUS TYPES OF RESIDENTIAL LANDS—AND THE
RESULTANT IN-LIEU FEES—TO BE USED AS A BASIS FOR
FEES TO BE PAID IN LIEU OF PARK AND RECREATIONAL
LAND DEDICATIONS.
WHEREAS:
A. Section 17.42.060 of the Redding Municipal Code provides a formula for the payment of
fees in lieu of land dedication.
B. Subsection B sets forth the calculation of in-lieu fees based upon the fair market value of
the amount of land which would otherwise be required for dedication. Fair market values are determined
by resolution of the City Council.
C. The City Council, at its regular meeting of November 18, 1997, held a public hearing
on, inter alia, proposed increases in development processing fees. Prior to implementing the increase of
in-lieu fees as of January 1, 1999, staff was required to address the issue of fair market values pursuant
to Redding Municipal Code Chapter 17.41—Park and Recreational Land Dedications and In-Lieu Fees.
D. It is staff's recommendation that the City Council adopt the fair market values hereinafter
set forth, for the specified types of residential land; and, concurrently therewith, the increase of in-lieu
fees discussed at the November 18, 1997, City Council meeting.
E. It appears to be in the best interests of the City and its citizens that the proposed fair
market values and in-lieu fees be adopted by the City Council, effective January 1, 1999.
NOW, TI�EREFORE, THE CITY COUNCIL OF THE CITY OF REDDING FINDS,
DETERMINES, AND RESOLVES AS FOLLOWS:
1. Pursuant to Redding Municipal Code Section 17.42.060 B., the City Council hereby
approves and establishes the following fair market values, which are reasonably related to the cost of
purchasing the following types of residential land:
TYPE OF UNIT FAIR MARKET VALUE
Single Family 516,�00 per acre
Duplex, Triplex, Fourplex 523,200 per acre
Apartment tfive or more units) 526,063 per acre ��
Mobilehome S16,450 per acre �
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2. Based on the fair market values set forth in paragraph 1 hereof, and the formula set forth �
in Section 17.42.060 B. of the Redding Municipal Code, the following in-lieu fees are hereby
established, effective January 1, 1999: ��,
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TYPE OF UNIT IN-LIEU FEE
Single Family S225 per unit
Duplex, Triplex, Fourplex S255 per unit
Apartment (five or more units) S245 per unit
Mobilehome S148 per unit
3. The City Council finds and determines that the in-lieu fees set forth above continue to be
reasonably related to the fair market value of the specified types of residential land.
4. Far the purposes of Chapter 17.42 of the Redding Municipal Code:
(a) All owner-occupied units are considered single-family units, whether they be in
single-family projects, planned developments, or condominiums.
(b) A single-family is one unit per parcel; a duplex is two units per parcel; a triplex is
three units per parcel; a fourplex is four units per parcel; and multiple-family is five or more units on a
parcel.
(c) Where different types of units are grouped on the same parcel, the fee is
calculated by the number of units on the parcel; not by the type of structure.
5. This resolution shall become effective January 1, 1999. Thereafter, the in-lieu fees shall
be included in the City's Schedule of Fees and Charges.
I HEREBY CERTIFY that the foregoing resolution was introduced, read and adopted at a
regular meeting of the City Council on the 15th day of December, 1998, by the following vote:
AYES: COUNCIL MEMBERS: Cibula, Kight and McGeorge
NOES: COUNCIL MEMBERS: Anderson and Kehoe
ABSENT: COUNCIL MEMBERS: None
ABSTAIN: COUNCIL MEMBERS: None
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DAVID A. O , Mayor
Attest: Form Approved:
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L�ey�Gl� ��'J' �'�Z�� ` ���j _
Connie Stro mayer, City er' W. Leonard Wingate, Ci ` orney
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