(a) Upon application, any transportation impact fee or portion thereof collected pursuant to these regulations, which has not been expended within the service area within ten years from the date of payment, shall be refunded to the record owner of the property for which the impact fee was paid or, if the impact fee was paid by another governmental entity, to such governmental entity, together with interest calculated from the date of collection to the date of refund at the statutory rate as set forth in Tex. Local Government Code § 395.025, or its successor statute. The application for refund pursuant to this section shall be submitted within 60 days after the expiration of the ten-year period for expenditure of the fee. An impact fee shall be considered expended on a first-in, first out basis.
(b) An impact fee collected pursuant to these regulations shall also be considered expended if the total expenditures for transportation improvements or facility expansions authorized within the service area within ten years following the date of payment exceeds the total fees collected within the service area for such improvements or expansions during such period.
(c) If a refund is due pursuant to subsections (a) or (b) above, the city shall divide the difference between the amount of expenditures and the amount of the fees collected by the total number of service units assumed within the service area for the period to determine the refund due per service unit. The refund to the record owner shall be calculated by multiplying the refund due per service unit by the number of service units for the development for which the fee was paid, and interest due shall be calculated upon that amount.
(Ord. 18083, § 1(1-19), passed 5-13-2008, eff. 7-1-2008; Ord. 25810-10-2022, § 2, passed 10-25-2022, eff. 11-1-2022)