(A) When refunds are due. The city shall refund the portion of collected development local water impact fees, including the accrued interest, that has not been expended seven years from the date the fees were paid. The refund shall be made on a pro rata basis, and shall be paid in full not later than 90 days after the date certain upon which the refund becomes due. Interest paid shall be based on a 4% annual rate.
(B) Refund notice. When due, a refund shall be paid to the present owner of the property that was subject of new development, and against which the fee was assessed and collected. Notice of the right to a refund, including the amount of the refund and the procedure for applying for, and receiving, the refund, shall be sent, or served, in writing to the present owners of the property no later than 30 days after the date on which the refund becomes due. The sending by regular mail of the notices to all present owners of record shall be sufficient to satisfy the requirement of notice.
(C) Refund payment. The refund shall be made on a pro rata basis, and shall be paid in full no later than 90 days after the date certain upon which the refund becomes due.
(D) Notice of refund rights. At the time of payment of the local water impact fee under this subchapter, the Impact Fee Administrator shall provide the applicant paying such fees with written notice of those circumstances under which refunds of such fees will be made. Failure to deliver such written notice shall not invalidate any collection of any impact fee under this subchapter.
(Ord. 2019-13, passed 7-22-2019)