(A) The current owner of record of property on which an impact fee has been paid shall be entitled to a refund of such fee if:
(1) The current owner of record of the property submits an application for refund within one year of the event giving rise to the right to claim a refund.
(2) All or a portion of the impact fees paid by the development are not spent within seven years after the date of payment. The determination of whether the impact fees paid by a development have been spent shall be determined using a first in, first out accounting standard.
(3) Existing city facilities of the type for which the impact fees have been paid are available to provide service to the development, but service from such facilities is not provided by the city.
(4) Existing city facilities of the type for which the impact fees have been paid are not available to the development, and the construction of improvements that would serve the development are not completed and available to provide service to the development within seven years from the date of payment of the impact fees.
(B) An application for refund must be submitted to the impact fees administrator or his/her designee within the time period specified in § 14-19-18(A)(1) on a form provided by the city for such purpose and must contain information and documentation sufficient to permit the impact fees administrator to determine whether the refund claimed is proper and, if so, the amount of such refund.
(C) In no event shall an applicant be entitled to a refund for impact fees assessed and paid to recover the costs of excess capacity in existing system improvements.
(D) Within 30 days from the date of receipt of an application for refund, the impact fees administrator or his/her designee must provide the applicant, in writing, with a decision on the refund request including the reasons for the decision. If a refund is due the applicant, the city shall issue a refund payment to the applicant within 30 days of the impact fees administrator's written decision on the refund request.
(E) The applicant may appeal the determination of the impact fees administrator within 30 days of such determination, as provided in § 14-19-20.
(F) A refund shall bear interest calculated from the date of collection of the impact fee to the date of refund at the statutory rate as set forth in Section 56-8-3 NMSA 1978.