The transportation facility fee assessed and levied pursuant to the provisions of this chapter upon the owner of property located within the city incident to the construction of a new building or structure on such property, or incident to the construction of alterations or additions to an existing building or structure on the property, may be deferred by the owner of the property under the following circumstances:
A. Where the owner of the property is constructing a new building on the property, or is constructing alterations or additions to an existing building on the property which is or will be used solely for single-family residential purposes, payment of such transportation facility fee may be deferred by the owner of the property from the date of the issuance of a building permit for such construction work to a date 1 year from the issuance of such building permit, or the date of the issuance of a certificate of occupancy for the building on which the construction work is being performed, whichever first occurs; provided, that the owner of the property, at the time of issuance of the building permit, has:
1. Entered into an agreement with the city undertaking to pay such deferred transportation facility fee at the time and in the manner provided for by this subsection, which agreement shall be in a form approved by the city attorney and recorded against the property, or provided a letter of credit from a lending institution, in a form approved by the city attorney, which guarantees payment of such deferred fees at the time and in the manner provided for by this subsection; and
2. Paid to the city an additional fee in the amount equal to 2% of the deferred transportation facility fee as and for the administrative costs to be incurred by the city by reason of such fee deferral;
B. Where the owner of the property is constructing a new building or structure on the property, or constructing alterations or additions to an existing building or structure on the property which is or will be used for multifamily residential purposes or for a nonresidential purpose, payment of such transportation facility fee may be deferred by the owner of the property from the date of the issuance of a building permit for such construction work to a date 1 year from the issuance of such building permit, or the date of the issuance of a certificate of occupancy for the building or structure on which the construction work is being performed, whichever first occurs; provided, that the owner of the property, at the time of issuance of the building permit, has:
1. Entered into an agreement with the city undertaking to pay such deferred transportation facility fee at the time and in the manner provided by this subsection, which agreement shall be in a form approved by the city attorney, and
2. Executed a deed of trust securing performance of the property owner's duties and obligations under such agreement, which deed of trust shall also be in a form approved by the city attorney and shall be recorded against the property as a first deed of trust, and
3. Paid to the city an additional fee in an amount equal to 2% of the deferred transportation facility fee as and for the administrative costs to be incurred by the city by reason of such fee deferral;
C. Where the owner of the property is constructing a new building on the property, or is constructing alterations or additions to an existing building on the property which is or will be used for single- or multiple-family residences occupied by "persons and families of low or moderate income" as defined by Section 50093 of the Health and Safety Code, and the entire amount of such transportation facility fee will be financed by a loan made to the owner or developer of the property by the city, payment of the transportation facility fee may be deferred by the owner of the property from the date of the issuance of a building permit for such construction work to the date of the issuance of a certificate of occupancy for the building on which the construction work is being performed.
(Ord. 1956 §1 (part), Ord. 2112 §1, Ord. 2521 §12)