(a) When allowed. Any conveyance of land or construction received and accepted by the County or the County Board of Education from a developer, including construction of a contract school by a developer or a developer's agent pursuant to an agreement with the Board of Education, may be credited against the development impact fee due if the conveyance or construction meets the same needs as the development impact fee in providing expanded capacity over and above the requirements of this article. If the developer wishes to receive credit against the amount of the development impact fee due for such conveyance or construction, the developer shall enter into a written Impact Fee Credit Agreement with the County prior to such conveyance or construction. The Impact Fee Credit Agreement shall provide for establishment of credits and the procedure and time allowed for redemption of such credits. Development impact fee credits shall be claimed and applied at the time development impact fees are required to be paid.
(b) Determination of value. The value of land conveyed by a developer and accepted by the County for purposes of this section shall be determined by an appraisal based on the fair market value of the land. The value of facilities constructed by a developer and accepted by the County for purposes of this section shall be established by the County. Construction shall be in accordance with County and State design standards.
(c) Transportation impact fee credits. Transportation impact fee credits shall be allowed for transportation improvements providing transportation capacity over and above the adequate road facilities requirements for a development project set forth in this article. The development providing the capital improvements shall be allowed transportation impact fee credits in the amount provided in the Transportation Impact Fee Credit Agreement. Credit may not be given for site-related transportation improvements.
(d) Conveyance of land; credit for construction. Any land awarded credit under this section shall be conveyed no later than the time at which development impact fees are required to be paid. The portion of the development impact fee represented by a credit for construction shall be deemed paid when the construction is completed and accepted by the County for maintenance or when adequate security for the completion of the construction has been provided.
(e) School impact fee credits. In the event that a developer provides capital improvements to create additional school capacity, including construction of a contract school pursuant to a School Capacity Mitigation Agreement provided for in §§ 17-5-501 and 17-5-901(g), the developer shall be entitled to a school impact fee credit in the amount provided in the School Impact Fee Credit Agreement. Credits may not be given for capital improvements necessary to meet existing school capacity deficiencies.
(f) Credits not assignable. Impact fee credits are not transferable or assignable unless expressly permitted in an Impact Fee Credit Agreement. Unused or unclaimed credits may not be refunded.
(1985 Code, Art. 24, § 7-107) (Bill No. 50-87; Bill No. 96-01; Bill No. 47-12)