A. New development in the city shall be required to pay their fair share of capital improvements needed as a result of the projected growth. Further, that the capital improvement cost for new growth is determined in the city Development Impact Fee Study.
B. The city finds that it is necessary that its development impact fee for capital improvements go into effect immediately in order that all properties in the city pay their fair share of the cost associated with the improvements. Immediate implementation of these fees is necessary due to the current and immediate threat to public safety which will result should there be a shortfall in the amount of money necessary to pay for the various improvements therefore resulting in failure to the existing infrastructure. The city finds that the prospect fo a revenue shortfall and failure of infrastructure continues a current, immediate threat to the public health, welfare and safety, which justifies the immediate imposition of these fees.
C. Development impact fees, collection, distribution, and collection fees shall be increased by 0.05% (one-half percent) annually, on or before July 1, utilizing Table 1, below in Section 14.04.050A.1, by resolution of the City Council.
D. The amount of the development impact fees shall be collected at issuance of the building permit and shall apply to all new construction within the city.
E. The city shall calculate the equivalent fee amount for non-residential uses, based on the single-family, residential rate, prior to issuance of a building permit. (Ord. 831-2017 (part), 2017; Ord. 749, 2005; Ord. 747, 2005)