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~,roper dispursement to %he account which <br /> <br />it. <br /> <br />rete~ve <br /> <br />The following exception to the formula wilt mpplyi Any <br />building permi% for an original building on · parcel <br />that wes p~etted~ end perk dedication fee, or lend <br />donation wes previously cede wil! be exempt for · period <br />of 5 ~eers fro~ %he enactment of %hts ordinance. A <br />prore%ed, formu%e of one-half %enLh of one percent will <br />be epplled in the sixth Meer~ end increased by one-half <br />tenth of one percent in each year thereafter until i% is <br />aqua! to %he fee of non-exeep% property. <br /> <br /> For clarification the figure eNpessed es decimal number <br /> <br />would be ..0025 or .25~ end .0005 or .05~ , and if <br />%he sample ho~e ~r business wes valued et, S60000 the fee <br /> <br />would be $150. The except'ion to the <br />eliminate Grand?sChering of Perk Fee on <br />being speculated on. The only change <br />tncrrease or decrease'the Park Fee is in <br />figure. <br />putting <br /> <br />Having the Finance dept <br />the burden where it belongs. <br /> <br />formula would <br />tend that is <br />necessary %o <br />the e~pressed <br />handle the fe~ is <br /> <br />This system will elieinete the need to change the <br />formula again when high densi%y end eul%iples come to <br />this city. It should eliminate the need to adjust for <br />infla%ion~ as the formulas for determining building <br />value are handed down by the state end adjusted <br />periodically for in?ration. <br /> <br /> <br />