Ordinance No. 1481-24 Impact Fees

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OR BK 11052 PG 235 Page 11 of 16 (4) Once the amount and terms of the credit are determined, credits for land dedication will be provided following delivery of a fully executed deed or other appropriate conveyance document, and acceptance of the dedication by the City Council. Credits for construction will be made upon completion in compliance with all applicable local state and federal design specifications, laws and regulations and acceptance by the City Council. (5) Any person who offers land and/or improvements in exchange for credits may withdraw the offer at any time prior to the transfer of legal title to the land or improvements in question and pay the full impact fees required by this section. (E) Any claim for credit pursuant to this section must be filed with the City Manager or his or her designee prior to the final approval of the applicable building or development permit. Any feepayer claiming such credits shall present documentation and any other evidence of a donation of real property or a monetary contribution for capital equipment or facilities. (F) Credits will expire if not used within ten (10) years after the receipt of the deed for land dedication or the city's acceptance of the improvements constructed. (G) If an impact fee is increased, the holder of any impact fee credits before the increase is entitled to the full benefit of the intensity or density prepaid by the credit balance as of the date it was first established. (H) Credit shall be provided for any improvement or contribution, whether identified in a development order, proportionate share agreement, or any form of exaction, related to public facilities, including monetary contributions, land dedication, site planning and design, or construction. Any such contribution shall be provided credit on a dollar -for dollar basis at fair market value to reduce any impact fee collected for the general category or class of public facilities or infrastructure for which the contribution was made. § 155.14 IMPACT FEE FUNDS. (A) There are hereby established separate special revenue funds for transportation, park, and public safety impact fees. (B) Funds may be withdrawn from these special revenue funds for use solely in accordance with the provisions of § 155.15, provided that the disbursal of such funds shall require the approval of the City Council, after recommendation of the City Manager. § 155.15 APPROPRIATION OF IMPACT FEE FUNDS. (A) In general, transportation, park, and public safety impact fees shall be appropriated for Eligible Improvements applicable to the type of impact fee, for the payment of principal, interest, and other financing costs on contracts, bonds, notes, or other obligations issued by or on behalf of the city to finance such improvements, or for refunds of impact fees paid pursuant to § 155.16. Types of Eligible Improvements for the transportation, parks, and public safety impact fees are described in the following three subsections. (B) Transportation impact fee funds may be expended for, but are not limited to, the following types of Eligible Improvements, including joint participation in projects with the Florida Department of Transportation and/or Pasco County: (1) Design, permits, route studies, and construction plan preparation; (2) Right-of-way acquisition and related costs; (3) Construction of through lanes; (4) Construction of turn lanes and other intersection improvements; (5) Construction of bridges; Page 11 of 16 30996332v]