Local News in Brief : Newport Beach : Increase in Builders’ Fees to Be Considered
The City Council on Monday will consider raising builders’ fees that help pay for parks from the current $447,000 an acre to $612,833.
The proposed increase would make the fees match the median market value of parkland in Newport Beach, according to a recent appraisal that found that the city’s parkland had skyrocketed 278% in value since 1979.
The increase in developer fees is not expected to generate any opposition, said City Manager Robert L. Wynn. “When the city began its park dedication fee program in 1977, it stipulated that every three years the median park value would be reappraised.
“So, this was done in ‘80, ’84 and ‘87,” he said. “Monday’s action will be simply to implement 1987’s appraisal.”
Wynn said developers have gone along with these fee increases because they are able to sell houses for more money because of rising real estate values.
“A house selling for $100,000 in 1977 now sells for $600,000,” Wynn said.
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