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<br />08/11/2008 <br /> <br />ORIGINAL <br /> <br />RESOLUTION NO. 14884 <br /> <br />RESOLUTION AMENDING THE 2008-09 CAPITAL IMPROVEMENT PROGRAM <br />BUDGET TO CREATE AND FUND A $60,000.00 COMMERCIAL PARK <br />DEVELOPMENT FEE NEXUS STUDY <br /> <br />WHEREAS, on October 22, 2007, the City Council of the City of Redwood City ("City <br />Council") approved Redwood City Municipal Code Chapter 18, "Parks Impact Fee" imposing <br />fees on new residential development to maintain the 3.0 acres per 1,000 resident park <br />standard; and <br />WHEREAS, on October 22, 2007, the City Council directed staff to study the potential <br />nexus between new commercial property development and the use of Redwood City parks; <br />and <br /> <br />WHEREAS, on July 21, 2008, the City Council approved its Fiscal Year 2008-09 <br />budget; and <br />WHEREAS, the Fiscal Year 2008-09 budget did not include a new project appropriating <br />funding for a Commercial Development-Park Nexus Study from Capital Improvement Projects <br />Contingency funds. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCil OF THE CITY OF <br /> <br />REDWOOD CITY AS FOllOWS: <br /> <br />1. Approve an amendment to the budget for fiscal year 2008-2009, appropriating <br />the sum of $60,000 from Capital Improvement Projects Contingency funds to be <br />allocated to a Capital Improvement Project for the Commercial Park <br />Development Fee Nexus Study <br /> <br />Expense Adiustment <br /> <br />CIP Contingency Project <br /> <br />($60,000) <br /> <br />CI P Commercial Development- <br />Park Nexus Study Project <br /> <br />$60,000 <br /> <br />* * * <br /> <br />A TTY /RESO/RESO .1841 <br />072908 <br /> <br />14884 <br />Muff# 501 <br />