HomeMy WebLinkAboutCC Reso No 2005-067
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RESOLUTION NO 2005 - ~
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE
ESTABLISHING AN INCREASE OF TRAFFIC INFRASTRUCTURE FEE (TIF)
FOR DEVELOPMENT PROJECTS WITHIN THE CITY OF LAKE ELSINORE
WHEREAS, Resolution No. 2002-22 established the amount of the Development Impact
Fee for Traffic Infrastructure; and,
WHEREAS, in Section 8. Fee Adjustment of Resolution No. 2002-22, states that the TIP fee
shall be adjusted annually, and;
WHEREAS, the fee was adjusted in July 2004, by Resolution 2004-47 and;
WHEREAS, the cost adjustment factors have been calculated as described in the
aforementioned Section 8, and;
WHEREAS, the TIP fee has been accordingly adjusted and becomes effective July 2005;
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Lake
Elsinore for development projects within the City of Lake Elsinore established the TIP as follows:
TIF Fees as of July 2005
Single Family residential
Multi Family residential
Commercial Building
Office Building
Industrial Building
$1,369 per unit
$ 959 per unit
$ 3.84 per sq. ft.
$ 1.45per sq. ft.
$ 0.81 per sq. ft.
PASSED, APPROVED AND ADOPTED THIS 12 day of JULY
2005
AYES:
NOES:
HICKMAN, KELLEY,
SCHIFFNER, MAGEE
NONE
ABSENT: BUCKLEY
ABSTAIN: NONE
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Resolution No. 2005 . 67
INCREASE OF TRAFFIC INFRASTRUCTURE FEE (TIF) FOR DEVELOPMENT
PROJECTS WITHIN THE CITY OF LAKE ELSINORE
ROBERT. EE, MAYOR
CITY OF LA ELSINORE
ATTEST:
REDERICK Y, DEPUTY CITY CLERK
CITY OF LAKE ELSINORE
APPROVED AS TO FORM:
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