Any development impact fees paid shall be refunded if the city has failed to commence construction of system improvements in accordance with this chapter, or to appropriate funds for such construction, within eight (8) years after the date on which such fee was paid. Any refund due shall be paid to the owner of record of the parcel for which the development impact fees were paid. The city may hold development impact fees for longer than eight (8) years if it identifies in writing: a) a reasonable cause why the fees should be held longer than eight (8) years; and b) an anticipated date by which the fees will be expended, but in no event greater than eleven (11) years from the date they were collected. If the city complies with the previous sentence, then any development impact fees identified in such writing shall be refunded to the fee payer if the city has failed to commence construction of system improvements in accordance with this chapter, or to appropriate funds for such construction on or before the date identified in such writing. (Ord. 1110, 2012; Ord. 985 § 1, 2007)