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HomeMy WebLinkAboutResolution 2915 Amend cash-in-lieu payment for off-street parking .- '-~---,._---;:--- , --- - . -.. COMMISSION RESOLUTION NO. 2915 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, CLARIFYING THE TERMS FOR PAYMENT OF THE FEE FOR THE CASH-IN-LlEU PAYMENT OPTION TO THE OFF-STREET PARKING REQUIREMENT UNDER SECTION 18.50.120 OF THE ZONING TITLE OF THE BOZEMAN MUNICIPAL CODE AS AMENDED. 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 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. WHEREAS, the City currently and historically has imposed an eight (8) percent per annum interest rate on outstanding loan balances. . WHEREAS, this Resolution is needed to clarify the terms for payment of this fee for the cash-in-lieu payment option to the off-street parking requirement. 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 $2000.00. 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 dollars ($1000) or one-tenth (1/10) 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 five thousand dollars ($5000) shall not be greater than three (3) years; B) The term for payment of an initial principal balance of five thousand dollars ($5000) to ten thousand dollars ($10,000) shall not exceed seven (7) years; C) The term for payment of an initial principal balance of greater than ten thousand dollars ($10,000) shall be limited to a maximum of ten (10) years; D) Outstandina loan balances will bear interest at eight (S) Dercent Der annum. I' fl 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 1 st day of June, 1993. . ATTEST: ':""'" ()~ f~ ROBIN L. SULLIVAN - Clerk of the Commi~rsipn i, , - 2 - ---.------- -----.-...-...- -... _. State of Montana ) County of Gallatin ) City of Bozeman ) I, Robin L. Sullivan, Clerk of the Commission of the City of Bozeman, Montana, do hereby certify that the foregoing Commission Resolution No. 2915 was published by title and number in the Bozeman Daily Chronicle, a newspaper of general circulation printed and published . in said City, in the issue dated the 4th day of June 1993, and due proof of such publication is on file in my office. IN WITNESS WHEREOF I hereunto set my hand and affix the corporate seal of my office. ~YH~ R IN L. SULLIVAN Clerk of the Commission . .