07-589 Impact Fee InflationCITY OF MERIDIAN RESOLUTION NO. a ~ ~g
BY THE CITY COUNCIL: BIRD, BORTON, ROUNTREE, ZAREMBA
A RESOLUTION TO DETERMINE AN INFLATION FACTOR TO BE
APPLIED TO POLICE, FIRE, AND PARKS IMPACT FEES TO ACCOUNT FOR
INFLATION INCREASES IN THE COST OF PROVIDING POLICE, FIRE, AND
PARKS PUBLIC FACILITIES TO SERVE NEW GROWTH AND
DEVELOPMENT PURSUANT TO THE CITY OF MERIDIAN'S ADOPTED
CAPITAL IMPROVEMENTS PLAN; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on September 6, 2006, the Meridian City Council adopted
Ordinance 06-1255 amending Meridian's Impact Fee Ordinance; and
WHEREAS, the Fee Schedule adopted as part of Ordinance 06-1255 requires
that the City Council consider whether to apply an annual inflation adjustment to the
Police, Fire, and Parks Impact Fees to be implemented by City Council resolution; and,
WHEREAS, although the adopted fee schedule states that the impact fees shall
be "automatically adjusted" there is also language stating that the City Council is not
prevented from electing to.waive the inflation adjustment and maintain the existing fees
in any given year; and,
WHEREAS, Meridian's Finance Department has researched the available
reputable sources for inflation indices and has recommended McGraw Hill's Engineering
News Record (ENR) Construction Cost Index which measured the percentage of change
from November 2006 to November 2007 at 2.28%; and,
WHEREAS, Meridian's Development Impact Fee Advisory Committee met on
November 7, 2007 to consider the matter of the annual inflation factor and after fully
deliberating on all aspects of the issue, the Committee passed a motion to recommend
that the City Council not implement an inflation adjustment for the 2008 calendar year.
Resolution for Impact Fee Inflation Factor Page 1 of 2
NOW THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY
COUNCIL OF THE CITY OF MERIDIAN CITY, IDAHO:
Section 1. (Council motion to adopt this Resolution must specify one of the
following):
That the City 'dian's Impact Fee edule for Police, Fire, and
Parks be adjusted by 2.28% to account for ' ion ' essear i' e~cost of providing
police, fire, and parks public fac' ' 'es to serve new growth and development.
That the City Council has elected to waive the inflation adjustment for
the 2008 calendar year.
Section 2. That this Resolution shall be in full force and effect on January 1,
2008.
ADOPTED by the City Council of City of Meridian, Idaho this ~ day of
e~'~'/'~t-- , 2007.
APPROVED by the Mayor of the City of Meridian, Idaho, this ~ day of
C~Gh.. ~~• , 2007.
APPROVED:
a~u
,~~VI~~,Q,RfT DE WEERD
ATTEST:
Cy ~~~1~~3T~tti ~, »'
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:ai~:-Pi.: ~'
WILLIAM J. BERG, JR., CIT CIS ~
3.~ ,.
Resolution for Impact Fee Inflation Factor'~~~,,,,,,,,,,,,ti~,~` Page 2 of 2