(A) Upon application of the property owner, the city shall refund that portion of any impact fee which has been on deposit over five (5) years and which is unexpended and uncommitted, except as described in subsection (B) of this section. The refund shall be made to the then-current owner or owners of lots or units of the development project or projects.
(B) If fees in any impact fee account are unexpended or uncommitted during the fifty year, the fees are exempt from subsection (A) of this section, if the city council makes the following findings.
(1) A need for the capital improvement still exists;
(2) The fees will be used for an identified purpose; and
(3) The purpose for which the fees will be used is substantially similar to the purpose for which the fees were collected.
(C) The city may refund by direct payment, by offsetting the refund against other impact fees due for development projects by the owner on the same or other property, or otherwise by agreement with the owner.
(Ord. No. 14-2001, 8-15-01)