A RESOLUTION ESTABLISHING A PAYMENT IN LIEU OF RECREATION AREA MULTIPLIER OF 1.55 AS PART OF THE PARKS AND RECREATION USER FEE POLICY (2006-01-09/R-7a)

WHEREAS, on October 10, 2005, the Council enacted changes to the Land Use Management Ordinance that changed the method used in calculating payments in lieu of recreation area; and

WHEREAS, the modification required a shift away from private appraisals to values assessed by Orange County and/or Durham County for property tax purposes, and a multiplier established by the Council annually as part of the budget; and

WHEREAS, the change in calculating payments in lieu of recreation areas cannot be implemented without the establishment of a Multiplier; and

WHEREAS, the Planning Board and Parks and Recreation Commission have recommended a Multiplier of 1.55;

NOW, THEREFORE, BE IT RESOLVED by the Council of the Town of Chapel Hill that the Council hereby establishes a payment in lieu of recreation area Multiplier of 1.55 to be incorporated into and as part of the Parks and Recreation User Fee Policy.

This the 9^th day of January, 2006.