City Council Regular Meeting Agenda packet 1-9-25

Ordinance No. 2289 5. The city council may elect, in its absolute discretion, to provide reimbursement at a faster rate than provided in this section, based upon fees collected and available. 6. The reimbursement shall be paid one time each calendar year. 7. The right to reimbursement shall not run with the land, but shall be personal to the developer. The developer may assign his or her right to reimbursement to another by filing a written notarized assignment with the city clerk. It is the developer's or assignee's responsibility to keep the city clerk advised of a current address. If the city cannot locate a developer or assignee to send a reimbursement payment after reasonable diligence, the amount of the reimbursement for that year is forfeited, and the unclaimed funds shall be returned to the capital facilities fee fund. B. Calculation of Credit. 1. General. a. The community development director, or designee, ("director") shall calculate the amount of credit to be given based upon the approved improvement plans and using cost estimates (which are based on recent city project bids for similar work). The cost of any right-of-way to be purchased shall be based upon an appraisal done by a licensed appraiser, approved by the city, at the developer’s expense, with said costs eligible for credit. b. For nonstandard improvements, the credit shall be calculated based on information provided by the developer (such as bids or other documents verifying costs) for the community development director's review and approval. c. The calculation of costs shall be based only on work which is eligible for credit under subsection A of this section. No credit shall be given for the cost of constructing improvements otherwise required by direct development pursuant to Titles 18, 19, and 20 of this code. The amount of credit includes construction costs and the cost of engineering. 2. Assessment Districts, Benefit Area and Community Facilities Districts. If development occurs within an assessment district, fee benefit area, community facilities district, or otherwise is subject to an assessment, fee or special tax collected specifically to defray the costs of providing or constructing public facilities, the amount of credit is equal to that portion of the estimated construction cost of the public facilities included in the assessments, fees or special taxes which will be contributed by the development. C. Reimbursement When Credit Exceeds Fee. When the amount of credit exceeds the amount of the developer's capital facilities fee, the developer may be eligible for reimbursement of costs under Section 3.22.090 of this chapter. D. How and When Credit is Given. 1. If a developer is eligible for credit, the community development director shall calculate the credit pursuant to subsection B of this section, and determine the number of residential units or residential square footage, or office, commercial/retail, or industrial/warehouse square footage for which developer shall receive a credit. No Page 28 of 638