A. The city council shall establish by resolution, a parking in-lieu fee calculated to provide the sum of money necessary to provide future public parking facilities that will benefit the proposed use. Such fee shall be conditional and based on the following findings by the city council:
1. That the parking in-lieu fee is proportionate to the cost of acquiring land and constructing off-site parking; and
2. That the parking in-lieu fee is fairly apportioned on the basis of benefits conferred on the property developed or to be developed or on the need for off-street parking created by proposed or existing development of property.
B. The parking in-lieu fee shall be that amount as established by resolution of the city council. Effective July 1, 2002 and each July first thereafter, the in-lieu fee shall be adjusted in accordance with the following criteria:
1. On April 1st of each year the city engineer shall review the current Engineering News Record Construction Cost Index (ENRCCI) for the cities of Los Angeles and San Francisco, California. When the average of such indices differs from the average of the indices for the preceding April 1st, the factor of increase or decrease shall be applied to the in-lieu fee. Such factor shall be computed by dividing the average ENRCCI for the current April 1st by that pertaining to the previous April 1st. The parking in-lieu fee rate may be multiplied by the factor to determine the adjusted parking in-lieu fee rate. The city engineer shall present the new fee rate for adoption by resolution of council after at least one public hearing.
2. If in the determination of the city engineer the adjustment of the in-lieu fee produced by the procedure in subsection (B)(1) of this section is not representative of the actual changes in costs of parking facilities, the city engineer may, in lieu of the procedure set forth in said paragraph, compute a new parking in-lieu fee rate for adoption by resolution of the city council. The city council may adopt the new fee rate upon a majority vote after at least one public hearing.
3. In the event of the adoption of a new schedule of fees by resolution of the city council, such new schedule shall become effective sixty (60) days after the adoption thereof by the city council. The adjustment of such schedule provided in subsection (B)(1) of this section shall begin the April 1st next occurring after adoption of the schedule. (Ord. 2017-01 (part), 2017: Ord. 2001-03 § 5 (part), 2001)