Where a fee is required to be paid in lieu of land dedication and a development fee, the amount of such fee shall be established annually by the City Council by resolution. The amount of such fee shall not exceed an amount determined in accordance with the following formula:
(L+D) SP
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1,000
L = Land (average acquisition cost per acre) updated annually based upon a yearly opinion of value by the City Engineer's Office,
D = Development cost per acre, updated annually by Construction Price Index
S = Standard (master planned) acreage per dwelling unit
P = Persons per dwelling unit
Values used for determining the rcommended in-lieu fees:
L = As established by annual resolution
D = As established by annual resolution
S = 2.0 acres per 1,000 population
P = 3.56 persons/single-family detached unit
P = 2.80 persons/single-family attached unit
P = 3.93 Persons/two-to-four plex units
P = 3.11 persons/five or more units
P = 2.51 persons/mobilehome dwelling unit
P = 1.50 persons/Platinum Triangle dwelling unit, any other provision hereof notwithstanding
(Ord. 3568 § 2 (part); July 27, 1976: Ord. 4913 § 1 (part); March 29, 1988: Ord. 5260 § 1 (part); October 8, 1991; Ord. 5775 § 2; July 24, 2001: Ord. 5966 § 28; April 26, 2005.)