(A) The revenues raised by payment of the fee shall be placed in a separate, interest-bearing account to permit accounting for such revenues and the interest that they generate until such time as the fees are remitted to ECCRFFA.
(B) Fees paid pursuant to this chapter shall be remitted monthly to the East Contra Costa Regional Fee and Financing Authority, to be placed in a fund to be used solely for the purposes and projects as described below. Any interest accumulated on such funds shall also be used only for said purposes and projects.
(1) To pay for acquisition/construction of the improvements;
(2) To pay for design, engineering, construction of and property acquisition for, and reasonable costs of outside consultant studies related to, the improvements;
(3) To reimburse ECCRFFA for the improvements constructed by ECCRFFA with funds from other sources including funds from other public entities, unless such funds were obtained from grants or gifts intended by the grantor to be used for the improvements;
(4) To reimburse developers that have designed and constructed a usable portion of any of the improvements with prior city and/or ECCRFFA approval and have entered into an agreement;
(5) To pay for and/or reimburse costs of program development and ongoing administration of the fee program, including, but not limited to, the cost of studies, legal costs and other costs of updating the fee.
(Ord. 1058-C-S, passed 10-11-05)