A. Requirement. Mobility improvement fees are hereby imposed on all new development projects resulting in net new vehicle miles traveled, except as specifically exempted in § 15.06.520. No application for a building permit for a development project shall be approved, nor shall any such development project be constructed without compliance with this Subchapter. The fee imposed by this Subchapter shall be collected at the time of the issuance of a building permit. No certificate of occupancy shall be issued for a development project that has not paid the fee required under this Subchapter.
B. Rates and calculation. Except as otherwise provided in this Subchapter, all new developments shall pay into the Mobility Improvement Fund a fee for the privilege of such development in an amount to be established by resolution of the City Council.
C. Annual review and adjustment. To account for inflation in infrastructure construction costs, the fee imposed by this Subchapter shall be adjusted automatically on July 1 of each fiscal year, beginning on July 1, 2022, by a percentage equal to the appropriate Construction Cost Index for the Los Angeles region, or equivalent index, as determined by the City, for the preceding twelve (12) months. The City shall publish the revised fee and index in a newspaper of citywide circulation or on the City website before July 31 of each year.
(Ord. No. 2021-006 § 2 (part))