Resolution 412RESOLUTION NO. _1_
A RESOLUTION OF THE CITY OF EDMONDS, WASHINGTON,
ESTABLISHING THE RATE TO BE PAID IN LIEU OF
CONSTRUCTING OFF- STREET PARKING SPACES IN THE
DOWNTOWN BUSINESS AREA.
WHEREAS, pursuant to Section 12.14.021 of the
Edmonds City Code, the Parking Commission has held meetings
and has considered the rate to be paid in lieu of constructing
off_ street parking spaces in the downtown business area and
has forwarded its recommendations to the City Council, and
WHEREAS, the Parking Commission and the City r
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Council have considered all relevant factors in determining
the actual costs of acquiring, constructing and maintaining
off - street parking spaces in the downtown business area,
including the annual construction cost index, the annual
real estate appreciation rate, local commercial rents and
the prevailing current interest rate, and,
WHEREAS, after considering the Parking Commission's
recommendations and all relevant factors, the City Council
finds that the rate established herein will encourage development
of off- street parking, will preserve the pedestrian oriented
atmosphere of the downtown business area, and bears a reasonable
relationship to the costs of acquiring, constructing and
maintaining off- street parking spaces, now, therefore,
THE CITY COUNCIL OF THE CITY OF EDMONDS, WASHINGTON,
HEREBY RESOLVES AS FOLLOWS:
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Section 1. Pursuant to Section 12.14.021(b)
of the Edmonds City Code the rate to be paid into the "Off -
Street Parking Fund" in lieu of constructing off - street
parking spaces in the downtown business area is hereby
established at
(a) $1,000.00 per parking space required -due
to new construction or new additions, and
(b) $500.00 per parking space required due to a
remodel of an existing building.
Section 2. The rates established herein shall be
effective from and after August 22, 1978.
APPROVED:
MAYOR, H. H. Harrison
ATTEST /AUTHENTICATED:
C TY CLERK, -I-r-ene �'—o z�— Mara`
FILED WITH THE CITY CLERK: August 17, 1978
PASSED BY THE CITY COUNCIL: August 22, 1978
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