Where a storm drainage facility fee is assessed and levied upon the owner of residential property located within the city incident to the construction of a new building on the property, construction of an addition to an existing building on the property, or the alteration of an existing building on the property which is or will be occupied by "persons and families of low and moderate income" as defined by Section 50093 of the Health and Safety Code, and the entire amount of such fee will be financed with a loan or grant made by the city, then such fee may be deferred by the owner of the property to the date of the issuance of a certificate of occupancy for such building.
(Ord. 1956 §1 (part); Ord. 2521 §19)