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11-19-2002 CC RPT 00
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11-19-2002 CC AGENDA
(Agenda)
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\City Council Agendas\2000-2009\2002
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<br />Ii-Itf-dd(j~ <br />.;tJ.'VI-~ <br />I~ <br /> <br />The City of Riverside City Council discussed the proposed Transportation Uniform Mitigation <br />Fee (TUMF) at their meeting on Tuesday, November 19th. After considering the importance of <br />balancing the need to maintain a competitive business environment that supports job creation and <br />sales tax generation with the need to identify funding alternatives to build transportation <br />infrastructure, the City Council voted unanimously to support the following schedule of fees: <br /> <br />o $6,650 per unit for single-family residential unit. <br />o Support as proposed <br />o $4,607 per multi-family residential unit. <br />o Support as proposed <br />o $1.45 per square foot of an industrial project, phased in over three years. <br />o Support at approximately 10% of proposed <br />o Three-year phase-in of reduced fee <br />o $7.81 per square foot of a retail project, phased in over three years. <br />o Support at approximately 50% of proposed <br />o Three-year phase-in of reduced fee <br />o $4.84 per square foot of a service commercial project, phased in over three years. <br />o Support at approximately 50% of proposed <br />o Three-year phase-in of reduced fee <br /> <br />
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