FIN 2017-11-21 COMPLETE AGENDA PACKET

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ee e•••••• appeals under TMC Section 16.28.100. B. The Mayor may consider other relevant information in approving fee deferral requests including, but not limited to, the ability of the property owner to satisfy the obligations of thc agreement and pay the deferred impact fees. The Mayor is authorized City, and/or to protect thc public welfare. ivancc. The property owner shall make 8 equal, annual installment payments to the to the end of the 10 year deferral term. D. interest shall be charged on deferred parks impact fees. The interest rate shall E. The parks impact fee deferral agreement may be consolidated with any Council. Section 17. TMC Section 16.28.130 is hereby reenacted to read as follows: 16.2841-0130 Refunds A. If the City fails to expend or encumber the impact fees within 10 years from the date the fees were paid, unless extraordinary, compelling reasons exist for fees to be held longer than 10 years, the current owner of the property on which the impact fees were paid may receive a refund of such fees. Such extraordinary or compelling reasons shall be identified in written findings by the City Council. B. The City shall notify potential claimants by first class mail that they are entitled to a refund. In determining whether impact fees have been expended or encumbered, impact fees shall be considered expended or encumbered on a first -in, first -out basis. C. Owners seeking a refund must submit a written request for a refund of the fees to the City within one year of the date the right to claim a refund arises or notice is given, whichever comes later. D. Any impact fees for which no application has been made within the one-year period shall be retained by the City and expended on appropriate parks facilities. E. Refunds of impact fees shall include any interest earned on the impact fees by the City. W: Word Processing\Ordinances\Parks Impact Fees -TMC 16.28 re-enacted strike-thru 11-6-17 PM:bjs Page 11 of 12 29