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;,roper dispursement to the account .which should <br /> <br />receive <br /> <br />T~J~e~ollowing exception to the formula wit! apptg; ~ncj. <br />'bu i td~ hgt.,ere i t for <br /> <br />o¢ 5 uears from the enac~~f ~his ordinance, <br />prorated, formula of on~tf teh~of one percent .itt <br /> <br />~en~h ~n~ percen~ <br /> ~~o ~he fee ~f' non-exemp~ proper~g. <br /> <br />For clarification the figure expessed as decimal number <br />would be .0025 or .'25X and .0005 or ~05X , and 'if <br />the sample home ~r business was valued at, S60000 the fee <br />would be $150. The ~' except'ion to the formula would <br />eliminate Orandfathering of Park Fee on land that is <br />being speculated on. The ontg change necessarg to <br />tncrrease or decrease'the Park Fee is in the expressed <br /> <br />i <br /> <br />~'igure. Having %he Finance dept handle the ~'e~ is <br />put. ting the burden where it belongs. <br /> <br />This sgstee* wilt eliminate the need to change the <br />formula again uhen high densitg and Multiples come to <br />this city. [t should eliminate the need to adjust for <br />inftation~ as the formulas for determining building <br />value are handed down bg the state and adjusted <br />periodicattg for inflation. <br /> <br /> <br />