RESOLUTION SETTING THE FEE FOR THE PARKING IN LIEU PROGRAM

Recommendation:

That the City Council adopt the attached resolution setting the fee for the Parking In Lieu Program at $12,500 per space.

Background:

The City Council reviewed and approved the fee at your meeting of May 25, 1999. The resolution has been modified to remove the reference to a payment program over time. The payment would be due in full when the building is ready to occupy.

RESOLUTION NO. 99-

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HERMOSA BEACH, CALIFORNIA, SETTING A FEE IN LIEU OF PROVIDING REQUIRED PARKING SPACES IN ACCORDANCE WITH HERMOSA BEACH MUNICIPAL CODE.

WHEREAS, Section 17.44.190 of the Hermosa Beach Municipal Code provides that a fee in lieu of providing required parking spaces shall be set by resolution;

Section 1. That in lieu of providing parking spaces as required, the developer may be permitted to pay $12,500 for each required space not provided for in the project;

Section 2. That all fees and interest shall be placed in a Parking Improvement Fund to build and operate public parking.

PASSED, APPROVED , and ADOPTED this 8th day of June, 1999.

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