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<br />6. 4f ð-,e <br /> <br />B. The imposition of the Impact Fee on new uses within a certain portion of the <br /> <br />Downtown (the "Exempt Downtown Area") could be a substantial barrier to new <br /> <br />development. <br /> <br />C. The exemption from the payment of Impact Fee for new uses except <br /> <br />professional, medical, business and administrative office uses within the Exempt <br /> <br />Downtown Area will create an incentive for the development of housing and will <br /> <br />enhance the retail environment. <br /> <br />D. There will be no significant loss of revenue and any potential loss will be offset <br /> <br />either by replacement of lost revenues from other sources or by Redevelopment <br /> <br />Agency funding of Traffic Impact Mitigation Fee projects. <br /> <br />SECTION 2. Chapter 18, Article XV, Section 18.253.A.8 (a), is hereby amended to read <br />as follows: <br />"Any use commenced on or after July 1, 2005, except professional, medical, <br /> <br />business, and administrative office use, as said terms are defined below in <br /> <br />subsection (b), within the Exempt Downtown Area (bound by Veterans <br /> <br />Boulevard, Maple Street, EI Camino Real, and Brewster Avenue) shall not be <br /> <br />required to pay the Impact Fee if (1) a Notice of Official Action giving approval of <br /> <br />the use is issued by the Zoning Administrator by December 31 2006, and (2) <br /> <br />substantial construction pursuant to an approved building permit has been <br /> <br />undertaken by December 31,2007. Portions of buildings or structures that do not <br /> <br />qualify for an exemption shall be required to pay the Impact Fee in accordance <br /> <br />with the Impact Fee Schedule." <br /> <br />SECTION 3. <br /> <br />This ordinance shall be effective thirty (30) days after the date of its adoption. <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />2 <br />