Resolution 401.r 01•-'
RESOLUTION NO. 401
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON,
ESTABLISHING AN IN LIEU PARKING FEE PURSUANT TO
SECTION 12.14.021 OF THE EDMONDS CITY CODE.
WHEREAS, Section 12.14.021 of the Edmonds City
Code authorizes the City Council to establish the in lieu
parking fee to be applied in the downtown business area of
Edmonds, Washington, and
WHEREAS, the Parking Commission has, during the
past year, continued to study the parking situation in the
downtown business area, and
WHEREAS, the Parking Commission has forwarded its
recommendations for the in lieu parking fee to the City
Council, and
WHEREAS, the Parking Commission and the City
Council have considered various factors in arriving at the
in lieu parking fee, including but not limited to the following:
1. The annual construction cost index;
2. The annual real estate depreciation or
appreciation rate;
3. The prevailing local commercial rents;
4. The prevailing current interest rate;
5. The cost of operation and payments of off-
street parking facilities, and
WHEREAS, the City Council at a public meeting having
considered the Parking Commission's recommendations and determined
that the in lieu parking fee established herein is fair and equitable
M6.
and bears a substantial relationship to the costs of
constructing and providing off- street parking spaces in
the downtown business area, now, therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON,
HEREBY RESOLVES AS FOLLOWS:
Section 1. The in lieu parking fee as provided in
Section 12.14.021 of the Edmonds City Code is hereby established
at One Thousand Dollars ($1,000.00) per parking space.
Section 2. This fee shall be effective immediately
and shall remain in effect until adjusted as provided in
Section 12.14.021 of the Edmonds City Code.
MAYOR, H. H. Harrison
ATTEST /AUTHENTICATED:
CITY CLERK, Irert6 Varney Moran
FILED WITH THE CITY CLERK: May 11, 1978
PASSED BY THE CITY COUNCIL: May 1.6, 1978