§ 10.70.330. Amount of potential credit.  


Latest version.
  • In the event that the Director determines that the applicant has submitted a timely application in compliance with Section 10.70.320, and it is in the city's best interest to allow the applicant to provide the proposed specified traffic or transportation facility, the applicant may be entitled to credit against fees otherwise owed in accordance with this chapter, provided that the applicant enters into an agreement with the city which includes the following essential terms:

    A.

    The design of the specified traffic or transportation facility is approved by the city.

    B.

    The applicant agrees to provide the specified public facilities in return for the credit to be allocated in accordance with the terms of the agreement and this chapter. The applicant provides in writing a document indicating the estimate time to design and construct the relevant traffic or transportation facility, along with an estimated date of completion.

    C.

    The amount of credit available to the applicant shall not exceed the lesser of: (i) the applicant's actual cost of providing the specified public facility, to be evidenced by the submittal of written documentation to the satisfaction of the Director, and (ii) the estimated cost of providing the specified public facility, as identified in the implementing resolution.

    D.

    The applicant provides improvement security in a form and amount acceptable to the city.

    E.

    The applicant identifies the development projects to which the credit will be applied.

(Ord. 12786 § 1 (part), 2007)