HomeMy WebLinkAboutResolution 3283 Cash-in-lieu of payment for parking spaces
COMMISSION RESOLUTION NO. 3283
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONT ANA, AMENDING THE FEE FOR THE CASH-IN-LlEU PAYMENT OPTION TO
THE OFF-STREET PARKING REQUIREMENT UNDER SECTION 18.50.120 OF THE
BOZEMAN MUNICIPAL CODE BY INCREASING THE FEE FROM $3,000 TO $5,000
PER PARKING SPACE AND REVISING PAYMENT PROVISIONS.
WHEREAS, Section 18.50.120 of the Bozeman Zoning Ordinance recognizes an ongoing
need for additional off-street parking facilities arising from new development in the B-3 Zoning
District; and
WHEREAS, this need arises in addition to the parking needs addressed in Special
Improvement District No. 565; and
WHEREAS. Section 18.50.120 of the Bozeman Zoning Ordinance allows payment of cash
in lieu of certain parking requirements; and
WHEREAS, said Section 18.50.120 of the Bozeman Zoning Ordinance provides that the
specific amount of cash to be paid in lieu of the parking requirements shall be set from time to time
by resolution of the City Commission; and
WHEREAS, the City currently and historically has imposed an eight (8) percent per annum
interest rate on outstanding loan balances; and
WHEREAS. the Bozeman Parking Commission recommends that this fee be increased to
$5,000.
NOW. THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana, that:
Section 1
That until further action by the City Commission, the required amount of cash in lieu to be
paid for each off-street parking stall required by the City of Bozeman parking requirements shall be
$5,000.00.
Section 2
That the total amount owed for cash in lieu shall be paid as follows:
1 ) Payment of the total amount in cash prior to issuance of a building permit,
business license or zoning approval, as required for the proposed use; or
2) Payment of one thousand two hundred fifty dollars ($1,250) or one-fourth
(1/4) of the total amount, whichever is greater, plus a three percent (3%)
administrative charge on the total amount on or before the issuance of a
building permit, business license or zoning approval, as required for the
proposed use; and the remaining balance will be amortized over a period of
years as outlined in Subsections A, B, and C below, with equal annual
payments over the life of the loan.
Terms for the payment of the principal balance are established as follows:
A) The term for payment of an initial principal balance of less
than or equal to fifteen thousand dollars ($15,000) shall not
be greater than three (3) years;
B) The term for payment of an initial principal balance of fifteen
thousand one dollars ($15,001) to forty thousand dollars
($40,000) shall not exceed five (5) years;
C) The term for payment of an initial principal balance of greater
than forty thousand dollars ($40,000) shall be limited to a
maximum of seven (7) years;
D) Outstanding loan balances will bear interest at eight (8)
percent per annum.
E) The petitioner and property owner shall execute a promissory
note for the balance.
Section 3
No person who is participating in such a payment plan may be issued an annual business
license unless such payments are current.
Section 4
That the cash in lieu rate may be revised at the discretion of the City Commission.
PASSED AND ADOPTED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 19th day of July 1999.
MARr::~~~r
ATTEST:
~ oI.4-~
ROBIN L. SULLIVAN
Clerk of the Commission
APPROVE-t) AS TO FORM:
/ ' .
,
/;/ ",..... jl' /7
/ Ii '/ lj7
I I.... I .r" j .
(.fl~r;; /vl{L'-iI
PA L J. UUW
City Att~~y
.2.
-- -.." - .----.--"........--., -...