This chapter is for the purpose of requiring that new development pays for its fair share of public trafficways through the imposition of trafficway impact fees which will be used to finance, defray or reimburse the City for all or a portion of the costs of public trafficways which serve such development. The amount of each impact fee shall be calculated based upon the gross square footage of nonresidential development, number of residential dwelling units, type or density or intensity of use, or other appropriate methodology which ensures that the fee is roughly proportional to the impacts of new development on public trafficways. The City assumes responsibility for and will pay for with general City revenues all public trafficway needs for existing development. (Ord. 18273 § 2, 6-22-04. Code 1995 § 130-761.)