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Program for Defenine the Payment of City Development Impact Pees for Residential Developmem Page ? of 4 f Iowever, owners or builders who have ouCstanding unpaid permits, licenses, fees, bills, penalties or fines, even if arising from another parcel, may be denied participation in the deferment program until such amounts are paid. 3) Fees Subject to Deferral. The City development impact fees subject to deferral are the Public Facilities Fee, Traffic Development Fee, Lower Income Housing Fee, City Water Connection Fce, and City Sewer Connection Fee. Piro-rata shares to reimburse the City or private developers for infrastructure costs are not subject to this deferral program. In addition, the Park In-Lieu Dedication Fee is not subject to this deferral program. Nose: Fees collected or ~~crilied by the City's Building Division for other agencies at the time of issuance of a building permit include: l7i-Valley Transportation Fee, Zone 7 Water Connection Pee, Zone 7 Drainage Fec, Dublin San Ramon Sewices District Sewer Connection Fce, and Pleasanton Unified School District School Impact Fcc; and these tees arc not able to be deferred by this City program. 4) Period of Deferral. Payment of City development impact fees shall be deferred until the earlier of: (i) final inspection; (ii) issuance of a certificate of occupancy; or (iii) close of escrow for each distinct dwelling unit. For example, if a condominium project sells one unit through an escrow, deferred fees are due for that one unit sold, and noC all of the units in the project. For an apartment project, if the project has several separate buildings with units, if the builder seeks a final inspection for the building in the first phase of development, deferred fees are due for the units in that first phase plus any due for common areas, but not for all the buildings and units in the entire project. A. Interest. [f the owner or builder defer payment of fees for more than twenty four (24) months fi~om the date of the promissory note, interest shall accrue and compound at the rate of Bank of America's Reference Rate and shall be adjusted every six months. 5) Changes in Fees Durine Deferral. If any of the City's development impact fees which were deferred pursuant to this program, are increased based on a recalculation (pursuant to a California Government Code ~§66000 et. seq. nexus study) during the deferral period provided by this program, the owner or builder shall have ninety (90) days from notice from the City of such increase to pay the deferred fee at the amount in effect before such increase. ~ Including, but not limited to: building permits, business licenses, fees for extra inspections. water or sewer bills, penalties for non-payment of any of the proceeding, or fines for code violations.