(a) The conversion fee is payable in full prior to the issuance of the first building permit for any building or buildings on a development site; provided, however, if the development site is a planned development, and the planned development is being constructed in phases, the conversion fee shall be paid on a pro rata basis as the first building permit for each subsequent new building or phase of construction is issued. The amount of the conversion fee due prior to the issuance of a building permit in a planned development that is being developed in phases shall be calculated by multiplying the conversion fee due for the planned development as a whole by a fraction, the numerator of which is the amount of floor area in the building or buildings for which the permit is then being issued and the denominator of which is the total amount of floor area approved in the planned development (calculated as the total maximum floor area ratio in the planned development multiplied by the total net site area in the planned development), as follows:
Conversion fee due at the time of issuance of a building permit for construction in a planned development* | = | Conversion fee for planned development as a whole** | x | Floor area approved for construction in building permit for applicable building or phase ÷ maximum floor area approved for construction in planned development as a whole*** |
* Each payment is due prior to the issuance of the first building permit for any building or buildings in the planned development.
** The total conversion fee shall be determined by calculating the net site area of the planned development (square feet), times the fee rate in effect at the time of building permit issuance, times the developer's share, as calculated pursuant to Sec. 16-8-080(a), as the same may be adjusted in accordance with Sec. 16-8-080(b). Since the conversion fee is calculated at the time of building permit issuance, not at the time of rezoning, the amount of the fee may change over time.
*** Maximum floor area is calculated as the total maximum floor area ratio in the planned development multiplied by the total net site area in the planned development.
(b) The applicant shall file with the department, on such form as the department may develop, a report indicating the number of gross square feet in the development site, the net site area of the development site, and any other information the department may require to determine the applicant's obligation to pay the conversion fee.
(Added Coun. J. 7-26-17, p. 53898, § 1)