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A. Separate accounts. Impact fees collected pursuant to this chapter shall be placed in separate, interest-bearing accounts for each necessary public service for each impact fee area.

B. Limitations on use of fees. Impact fees and any interest thereon collected pursuant to this chapter shall only be spent on:

1. Capital facilities included in an approved infrastructure improvements plan, including related costs of financing or debt, so long as the capital facilities serve the same impact fee area, and provide the same necessary public service for which the fee was collected.

2. Other costs authorized by this chapter and included in an approved infrastructure improvements plan.

C. Time limit. Impact fees shall be spent within ten fiscal years of the date upon which they were collected, or within 15 fiscal years of the date upon which they were collected for water facilities or wastewater facilities.

D. Administrative charge. There shall be a nonrefundable administrative charge equal to one percent of the assessed gross impact fee which shall be due at the time impact fees are paid. The administrative charge is not an impact fee, and cannot be reduced by any credits. (Ord. No. G-5984, 2015; Ord. No. G-6666, § 1, 2020)