18.25.110 Establishment of development fee accounts – Appropriation of development funds – Refunds.
(A) Development Fee Accounts. A development fee account shall be established by the city for each category of public facilities for which development fees are imposed. Such account shall clearly identify the category, account, or fund for which the development fee has been imposed. Sub-accounts may be established for individual development fee districts. All development fees collected by the city shall be deposited into the appropriate development fee account or sub-account, which shall be interest bearing. All interest earned on monies deposited to such account shall be credited to and shall be considered funds of the account. The funds of each such account shall be capable of being accounted for separately from all other city funds, over time. The city shall establish and implement necessary accounting controls to ensure that the development fee funds are properly deposited, accounted for and appropriated in accordance with this chapter, applicable state law and any other applicable legal requirements.
(B) Refunds.
(1) Expiration of Building Permit. An applicant who has paid a development fee for new development for which the necessary building permit has expired prior to construction shall be eligible to apply for a refund of development fees paid on a form provided by the city for such purposes. Such application shall be made within sixty (60) days following expiration of the permit. No interest shall be paid by the city in calculating the amount of the refund.
(2) A ten (10) percent administrative fee shall be deducted from the amount of any refund granted and shall be retained by the city in the appropriate development fee account to defray the administrative expenses associated with the processing of a refund application.
(3) Refunds shall be made only to the current owner of property on which the new development was proposed. (Ord. No. 2014-03, §§ 1 – 3, 6-17-14. 1976 Code § 7-7-5)