FIN 2017-11-21 Item 2B - Public Safety Plan - Ordinance/Resolution on Parks and Fire Impact Fees

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by the property owner. Provisions may include, but arc not subject property, letter of credit and/or surety bond. imited to, a lien against app ds under TMC Section 16.26.100. requests including, but not limited to, the ability of the property owner to satisfy the e AKA issuance. The property owner shall make 8 equal, annual installment payments to the City, with the first payment due to the City no later than 36 months after issuance of the to the end of the 10 y ar deferral term. building permit is issued (or closest date thereof). Interest shall be compounded annually and shall begin to accrue upon issuance of the building permit. E. The fire impact fee deferral agreement may be consolidated with any agreements to defer park, transportation, or building permit fees as outlined in TMC Chapters 9.48 Council. Section 17. TMC Section 16.26.130 is hereby reenacted to read as follows: 16.26.148130 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. W: Word Processing\Ordinances\Fire Impact Fees -TMC 16.26 re-enacted strike-thru 11-6-17 PM:bjs Page 11 of 12 15