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proper dispursement to t~me accoun% which.should <br /> <br />it. <br /> <br />The ~ollowing exception to the ~ormula will apply~ Any. <br />building permit ?or an original building on a parcel <br />that was p~atted, and park dedication tee, or land <br />donation was previously made will be exempt Cot a period <br />o¢ 5 years Crom the enactment o¢ this ordinance. A <br />prorated.?ormula o~ one-halt tenth o? one percent will <br />be applied in t~me sixth year, and increased by one-halt <br />tenth o? one percent in each year therea?ter until i% is <br />equal to the tee o? non-exemp~ property. <br /> <br /> For clarification %he ~'igure expessed as decima! number <br /> <br />~ould be .0025 or .257. and .0005 or .057. , and i~' <br />the sample home c~r business was valued at, $60000 the ~ee <br /> <br />would be $150. The except'ion to the <br />eliminate Grand?athering o~ Park Fee on <br />being speculated on. The only change <br />incrrease or decrease~the Park Fee is in <br />¢igure. Having %he Finance dept <br />putting the burden where it belongs. <br /> <br />~ormula would <br />land that is <br />necessary to <br />the expressed <br />handle the tee is <br /> <br />This system will eliminate the need to change the <br />torm~la again when high density and multiples come to <br />this city. It should eliminate the need to adjust <br />inCtation, as the ¢ormulas Cot determining building <br />value ere handed down by the state and adjusted <br />periodically ?or in?lation. <br /> <br /> <br />