(A) Criteria. The Town Council by resolution may exempt certain areas from the off-street parking and loading requirements of this chapter if alternative means will meet the off-street parking and loading needs of all uses in the area. Prior to exempting any area from the off-street parking and loading requirements, the Council shall determine the following:
(1) That the exemption is in the interests of the area to be exempted and in the interests of the town at large;
(2) That the exemption will not confer any special privilege or benefit upon properties or improvements in the area to be exempted, which privilege or benefit is not conferred on similarly situated properties elsewhere in the town;
(3) That the exemption will not be detrimental to adjacent properties or improvements in the vicinity of the area to be exempted; and
(4) That suitable and adequate means will exist for provision of public, community, group or common parking facilities; for provision of adequate loading facilities and for a system for distribution and pick up of goods; and for financing, operating and maintaining such facilities; and that such parking, loading and distribution facilities shall be fully adequate to meet the existing and projected needs generated by all uses in the area to be exempted.
(B) Parking Fund. For projects located within the town’s “parking pay-in-lieu” zones (as identified on the town’s official “parking pay-in-lieu zone” maps, incorporated by reference) property owners or applicants shall be required to contribute to the Town Parking Fund, hereby established for the purpose of meeting the demand and requirements for vehicle parking to the extent outlined in applicable master plan documents and the zoning regulations. At such time as any property owner or other applicant proposes to develop or redevelop a parcel of property within an exempt area which would require parking and/or loading areas, the owner or applicant shall pay to the town the parking fee hereinafter required:
(1) The Parking Fund established in this section shall receive and disburse funds for the purpose of conducting parking studies or evaluations, construction of parking facilities, the maintenance of parking facilities, the payment of bonds or other indebtedness for parking facilities, and administrative services relating to parking;
(2) The parking fee to be paid by any owner or applicant shall be determined by the Town Council;
(3) If any parking funds have been paid in accordance with this section and if subsequent thereto a special or general improvement district is formed and assessments levied for the purpose of paying for parking improvements, the payer shall be credited against the assessment with the amount previously paid;
(4) The parking fee to be paid by any owner or applicant is hereby determined to be $18,597.80 per space for residential uses (including, but not limited to, accommodation units, timeshares and fractional fee units). There is no pay in lieu fee for commercial uses. This fee shall be automatically adjusted annually by the percentage the consumer price index of the City of Denver has increased or decreased over each successive year;
(5) For additions or enlargements of any existing building or change of use that would increase the total number of parking spaces required, an additional parking fee will be required only for such addition, enlargement or change and not for the entire building or use. No refunds will be paid by the town to the applicant or owner;
(6) (a) The owner or applicant has the option of paying the total parking fee at the time of building permit or paying over a five-year period. If the latter course is taken, the first payment shall be paid on or before the date the building permit is issued. Four more annual payments will be due to the town on the anniversary of the building permit. Interest of 10% per annum shall be paid by the applicant on the unpaid balance.
(b) If the owner or applicant does choose to pay the fee over a period of time, he or she shall be required to sign a promissory note which describes the total fee due, the schedule of payments, and the interest due. Promissory note forms are available at the offices of the Department of Community Development.
(7) When a fractional number of spaces results from the application of the requirements schedule (§ 12-10-10 of this chapter) the parking fee will be calculated using that fraction. This applies only to the calculation of the parking fee and not for on site requirements.
(Ord. 8(1973) § 14.800; Ord. 47(1979) § 1; Ord. 30(1982) § 1; Ord. 6(1991) § 1; Ord. 10(1994) § 1; Ord. 3(1999) § 11; Ord. 4(2001) § 2; Ord. 29(2005) § 29)