HomeMy WebLinkAbout1991-06-25; City Council; NS-158; CMC 18.42.050 amend - CFD 1 traffic impact fee credit...a* - - //
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ORDINANCE NO. NS-158
AN ORDINANCE OF THE CITY COUNCIL OF THE
CITY OF CARLSBAD, CALIFORNIA, AMENDING
TITLE 18, CHAPTER 18.42, BY THE AMENDMENT
OF SECTION 18.42.050 OF THE CARLSBAD
MUNICIPAL CODE TO PROVIDE FOR A CREDIT
AGAINST THE TRAFFIC IMPACT FEE FOR
PROPERTIES PARTICIPATING IN COMMUNITY
FACILITIES DISTRICT NO. 1
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8 WHEREAS, the City has established the Traffic Impact Fee in order to
9 provide the necessary revenue to fund the construction costs for street and
10 intersection improvements required to serve new development; and
11 WHEREAS, the City has created Community Facilities District No.1 to
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provide a guaranteed funding source capable of issuing bonds and/or other forms
of debt for the purpose of financing certain public improvements previously
14 I\ I/ funded from the Traffic Impact Fee; and 15
16 WHEREAS, it is necessary to amend Chapter 18.42 of the Carlsbad
17 Municipal Code to allow properties within the boundaries of and subject to
18 taxation by the Community Facilities District No. 1 to receive credit against the
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Traffic Impact Fee obligation to avoid duplication of funding efforts.
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NOW, THEREFORE, IT IS ORDAINED by the City Council of the
ll City of Carlsbad, California as follows: 22
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Section 1. That the above recitals are all true and correct.
Section 2. That Title 18, Chapter 18.42, Section 18.42.050 of
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as follows: 26
the Carlsbad Municipal Code is amended by the addition of Section (c) to read
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"(c) the City Council shall give a credit toward the fee imposed by this Chapter for properties within the boundaries of and subject
to taxation by Community Facilities District No. 1. The amount of such credit
shall be determined by the City Council and established by resolution."
EFFECTIVE DATE: This ordinance shall be effective thirty days
after its adoption, and the City Clerk shall certify to the adoption of this
ordinance and cause it to be published at least once in the Carlsbad Journal
within ffieen days after its adoption.
INTRODUCED AND FIRST READ at a regular meeting of the City
Council of the City of Carlsbad, California, on June 25 Y
1991.
PASSED, APPROVED AND ADOPTED at a regular meeting of the
City Council of the City of Carlsbad, California, held on the 2nd day of -
July J 1991, by the following vote, to wit:
AYES: Council Members Lewis, Kulchin, Larson, Stanton and
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I NOES: None
ABSENT: None
ATTEST:
. ALETHA L. RAUTENKRANZ, City Clerk
(SEAL)