A. At the sole discretion of the city council through a development agreement, impact fees assessed against new developments may be delayed or contributed to by the city to achieve its goals and policies, including, but not limited to, retaining or generating employment or other economic activity in the community.
B. Where a development includes or requires a qualifying improvement, the city and the developer may agree in writing to have the developer participate in the financing or construction of part or all of the qualifying compensation to the developer for the developer's participation in the financing and/or construction of the improvements. The agreement shall include:
1. Estimated Cost: The estimated cost of the qualifying improvements, using the lowest responsible bid by a qualified bidder, which bid is approved by the building official or, if no bid is available, the estimated cost certified by a licensed Utah engineer and approved by the building official;
2. Schedule: A schedule for initiation and completion of the improvement;
3. Design; Compliance: A requirement that the improvement be designed and completed in compliance with any applicable city or state laws or regulations; and
4. Other Necessary Conditions: Such other terms and conditions as deemed necessary by the city. (Ord. 2013-07, 5-28-2013, eff. 9-1-2013)