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RES-2011-085RESOLUTION NO. 2011- 085 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ANAHEIM APPROVING THE AMOUNT OF THE PARK -IN- LIEU FEE FOR THE PLATINUM TRIANGLE AREA AND RESCINDING RESOLUTION NO. 2010 -093 WHEREAS, the City Council has heretofore adopted and amended Sections 17.08.240, 17.08.250, 17.08.260, 17.34.010, 17.34.020, and 17.34.030 of the Anaheim Municipal Code establishing a formula for determining maximum park and recreation land dedication or in -lieu fees for the City of Anaheim; and WHEREAS, the following fees to be charged do not exceed the actual cost of acquisition and development of parks in the City of Anaheim and do not exceed the maximum fees authorized pursuant to said sections of the Anaheim Municipal Code; and WHEREAS, the City Council hereby finds and determined that the average cost of park development is Six Hundred Thirty -Five Thousand Dollars ($635,000.00) per acre and the average cost of park land acquisition is Two Million, Nine Hundred Forty Thousand, Three Hundred Dollars ($2,940,300.00) per acre; and WHEREAS, in accordance with this formula, the park -in -lieu fees for the Platinum Triangle may not exceed Ten Thousand, Seven Hundred Twenty -Five Dollars and Ninety Cents ($10,725.90); and WHEREAS, the City Council believes it is in the best interests of the City of Anaheim and in concert with the desire of the City Council to maintain a stable economic environment that the park in lieu fees for fiscal year 2011 -2012 should not increase above the prior fiscal year. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Anaheim that the park in -lieu fee to be paid as a condition of development of each residential unit within the Platinum Triangle Area is: Platinum Triangle Residential Unit: $8,114.01 BE IT FURTHER RESOLVED that this Resolution shall become operative sixty (60) days following its date of adoption. BE IT FURTHER RESOLVED that Resolution No. 2010 -093 shall be rescinded upon the operative date of this Resolution. THE FOREGOING RESOLUTION is approved and adopted by the City Council of the City of Anaheim this 14th day of June , 2011, by the following roll call vote: AYES: Mayor Tait, Council Members Sidhu, Eastman, Galloway and Murray NOES: None ABSENT: None ABSTAIN: None ( A l MAYOR OF THE CI Y OF ANAHEIM ATTEST: CITY CL RK OF THE CITY OF ANA EIM CA0483718 -v 1- Reso_Park_in_Lieu_Fees_2011. WPD /bmorley