20.915.050 Park Impact Fee.
Click here to view prior versions of this section.
A. Formula. The impact fee component for parks shall be calculated using the following formula:
PIF = F × U
1. “PIF” means the parks impact component of the total development impact fee.
2. “F” means the parks impact fee rate per unit of housing, either single-family or multifamily residential, as applicable, for each service area. Such rate shall be established in the parks impact fee program technical document, incorporated herein by this reference, for each service area by estimating the cost of anticipated growth-related parks projects. Between major program updates, the calculated per unit fee will be adjusted annually pursuant to the methodology set forth in VMC 3.08.100 and as outlined in the parks impact fee program technical document.
3. “U” means the number of units, either single-family or multifamily, whichever is applicable, consistent with a proposed development.
B. Current park impact fee rates shall be as set forth in Table 20.915.050-1:
|
Year |
Park District |
Single-Family (SF) |
Multifamily (MF) |
|---|---|---|---|
|
January 1, 2023 |
A, B, C |
$4,757 |
$3,476 |
|
January 1, 2024 |
A, B, C |
$5,232 |
$3,824 |
|
January 1, 2025 |
A, B, C |
$5,756 |
$4,206 |
|
January 1, 2026 |
A, B, C |
$6,130 |
$4,480 |
C. At least one copy of the park impact fee technical document adopted by the city council, including the current park impact fee schedule as calculated thereunder, shall be filed in the office of the city clerk for use and examination by the public. (Ord. M-4388 § 2, 2022; Ord. M-4376 § 10, 2022; Ord. M-4363 § 9, 2022; Ord. M-4319 § 3, 2020; Ord. M-4274 § 2, 2019; Ord. M-4181 § 2, 2016; Ord. M-3933 § 4, 2009; Ord. M-3663 § 22, 2004; Ord. M-3653 §§ 3, 5, 2004; Ord. M-3643, 2004)