(A) The county may provide credits against the development impact fees due from a new development for the value of: land dedication for construction of a public school facility; and actual construction of all or part of a public school facility.
(B) Credits will be available only for: (i) the dedication of land for a public school facility; or (ii) actual construction of public school facilities meeting or exceeding the demand generated by the new development for the specific facility; and only if the land dedication or construction is determined by the Director to be a reasonable substitute for the cost of public school facilities which are included in the particular development impact fee calculation methodology.
(C) The Director shall determine eligibility for, and the amount of, the credit available under this section. The Director may not approve a credit for land dedication or construction of public school facilities unless the particular public facility development impact fee fund has sufficient revenue to make the reimbursement without jeopardizing the continuity of the county's capital improvements program.
(D) The total amount of any impact fee credit under this section may not exceed the actual amount of the impact fees due, and credits may not be transferred to any other type of development impact fee due from the same applicant for other types of public facilities.
(E) Impact fee credits for public school construction.
(1) An impact fee credit for construction of public school facilities may only be applied to development impact fees imposed for the same level(s) of public school facilities constructed.
(2) Even if the value of the public school facility provided by construction exceeds the total development impact fees due for that type of public school facility, the excess value may not be transferred to development impact fees due from the applicant for other types of public facilities or for other property being developed or to be developed by the applicant.
(F) Impact fee credits for land dedication.
(1) The county may approve impact fee credits for public school facility land dedication if the applicant submits an impact fee credit application which: (a) specifies the location and dimensions of the land which has been or will be dedicated for the public school facility; and (b) identifies the applicant's development and specific lots that are eligible for the land donation credit.
(2) To be eligible for this impact fee credit, land dedicated for public school facilities must: (a) be subdivided as an outlot; (b) be of sufficient size, as determined by the Board of Education, for the school type to be constructed; (c) comply with all applicable Board of Education Policies, as amended; and (d) be formally accepted by the Board of Education.
(Bill. No. 21-12, 12-21-2021)