(a) In order to address population growth and development activity, maintain park standards, and continue to promote and protect the public’s health and safety, the City of Loveland supports the expansion, preservation and maintenance of its public parks, trails, open spaces, and recreational facilities, collectively known as “Public park facilities”.
(b) In an effort to maintain the level of service established by the City, ensure that adequate park facilities are in place to serve growth and development, and that developments pay a proportionate share of the associated cost. Council does hereby approve and establish a Recreation Impact Fee to be applied to single-family, multi-family, commercial and industrial new construction, and additions.
(c) The Recreation Impact Fee for single-family and multi-family units will be five hundred dollars ($500.00) per unit and the Recreation Impact Fee for industrial and commercial will be five tenths of one percent (0.5%) of the construction value with a maximum of five thousand dollars ($5,000).
(d) The Recreation Impact fee will be collected by the Building Department at the same time as the building permit fees are collected.
(e) There is hereby created a Parks and Recreation Development Fund. There shall be paid into the Parks and Recreation Development Fund such funds set forth and collected as indicated in Section 1307.04.
(Ord. 2023-44. Passed 4-25-23.)