The yearly fee-in-lieu payments for required parking impact fees are due on June 1st. Based on the code, these fees start to accrue interest and penalties on June 2nd, if they are not paid in full. In light of the extenuating circumstances associated with the closure of businesses due to the COVID-19 pandemic, the administration recommends that the City Commission authorize a 60 day deferment of the payment of the annual PIF accounts. This can be done by Resolution (see attached).

The attached Resolution would extend the due date for Annual Fee in Lieu Accounts from June 1, 2020 to August 1, 2020, as well as waive the interest and penalties resulting from the extension. If the attached Resolution is adopted, the City would send out the FY 2021 invoices (for June 1, 2020 to May 31, 2021) immediately but allow for payments to be deferred up to 60 days, until August 1, 2020. Additionally, the interest and penalties resulting from the extension would be waived.

There are roughly 60 participants in the yearly fee-in-lieu program and a large majority are restaurants, with some hotels, daycares and retail operations that can’t provide the required parking. The Annual Fee in Lieu generated approximately $470,000 last year, and we estimated a similar revenue this year. Because of the COVID-19 crisis, the administration believes that extending a grace period for the payment of the fee is in order.