(a) Upon application, any impact fee or portion thereof collected pursuant to this division, which has not been expended within the benefit area within ten years from the date of payment, shall be refunded, upon application, 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. Revised Statutes Article 1.03, Title 79 (V.T.C.S. Article 5069-1.03, Vernon’s Texas Civil Statutes), or its successor statute. An impact fee shall be considered as expended on a first-in, first-out basis.
(b) An impact fee collected pursuant to this division shall also be considered expended if, within ten years following the date of payment, the total expenditures for capital improvements or facility expansion authorized in § 35-70.9 within the benefit area exceeds the total fees collected within the benefit area for such improvements or expansions during such period.
(c) If a refund is due pursuant to subsections (a) and (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 benefit 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.
(d) Upon completion of all the capital improvements or facility expansion identified in the capital improvements plan for the benefit area, the city shall recalculate the maximum impact fee per service unit using the actual costs for the improvements or expansions. If the maximum impact fee per service unit based on actual cost is less than the impact fee per service unit paid, the city shall refund the difference, if such difference exceeds the impact fee paid per service unit by more than 10%. If the difference is less than 10%, no refund shall be due. The refund to the record owner shall be calculated by multiplying such difference 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. 10601, § 1(1.16), passed 6-5-1990)