A. The impact fee formula is based on the assumptions found in the City of Everett Parks Impact Fees Rate Study, 2021, Exhibit A, attached hereto and by this reference fully incorporated herein.

B. Each development shall mitigate its impacts on the city’s parks facilities by payment of a fee that is based on the type of land use of the development and proportionate to the cost of the parks facility improvements necessary to serve the needs of growth. For residential development, fee amount is based on number of bedrooms across all residential units within development; for commercial development, fee amount is based on gross floor area of the development as defined in EMC 19.04.040, exclusive of parking.

C. Applications for a change of use shall receive credit based on the existing use. This credit is calculated by deducting the fee amount of the existing use from the fee of the proposed use. (Ord. 3830-21 § 3, 2021.)