(A) The revenues from parks and recreational facilities development fees collected within the service area and accrued interest on the revenues shall be used to finance project costs of qualifying parks and recreational facilities improvements, as determined by the City Council, provided that the improvements are shown in the approved Infrastructure Improvements Plan as described in Vol. II, § 7-1-10 of this Chapter, and are located within the same service area.
(B) Qualifying parks and recreational facilities improvements are limited to park site development costs, including grading, utilities, landscaping, lighting, fencing, signage and construction of parking facilities; acquisition, construction and installation of parks and recreational facilities and equipment; or other similar improvements, including the principal, interest and other financing costs of bonds, notes or other obligations issued by, or on behalf of, the city to finance qualified improvements. Such revenues may also fund the cost of consultants used in updating the parks and recreational facilities portion of the Capital Improvements Program and in updating the parks and recreational facilities development fee computations.
(C) Monies collected as parks and recreational facilities development fees shall not be used to pay for any of the following:
(1) Construction, acquisition or expansion of public facilities other than qualifying parks and recreational facilities improvements;
(2) Retirement of debt incurred for parks and recreational facilities constructed prior to March 1, 1997;
(3) Repair, operation, maintenance or replacement of existing parks and recreational facilities or capital equipment; and
(4) City personnel and consultants hired for purposes other than those expressly permitted under divisions (A) and (B) above.
(Ord. 1521, passed 8-16-2022)