§ 15.74.120. Credits and reimbursement for developer constructed facilities.
Latest version.
The City and the developer of a development project subject to the requirements of
this Chapter may enter into a credit and reimbursement agreement (agreement) to allow
the developer to construct transportation or capital facilities (facilities) that
would otherwise be funded in whole or in part by the impact fee. Whether to enter
into such an agreement is within the sole and absolute discretion of the City. Subject
to the agreement, the developer would receive a credit against the amount of the impact
fee due by the development project, and possibly reimbursement from impact fees paid
by other development projects, as determined by this Chapter. If the City decides
to enter into such an agreement, it shall be based on the City's standard agreement
template and comply with any requirements contained within the rules and regulations
adopted by the City Administrator to implement this Chapter pursuant to Section 15.74.130. The agreement shall contain, at a minimum, provisions for the timing of the construction
of the facilities, security to ensure construction of the facilities, amount of the
credit, reimbursement procedures (if applicable), ownership of the facilities, requirements
for acceptance of the facilities, maintenance responsibilities, guarantees of workmanship,
insurance requirements and defense and indemnity. The developer shall obtain all necessary
permits and approvals for construction of the facilities.
(Ord. No. 13366, § 4, 5-3-2016)
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