(A) Where a new residential development involves a net reduction in the number of any or all of the lots, dwelling units or bedrooms on the property on which the development is, or is to be, located and development impact fees had previously been paid in connection with an earlier development of such property, the developer may request a credit for a net reduction, calculated on a “per unit of public body or public service provider” basis. Such request shall be filed within 30 days after a new residential development receives final zoning, subdivision and planned development approval, where and as applicable, but prior to the presentation of any final plat or development agreement for execution by the city or any of its officials. The credit due the developer shall be the proportion of such net reduction to the number of lots, dwelling units or bedrooms for which development impact fees were previously paid in connection with the development of the property, but in no event shall such credit reduce the amount of development impact fees due in connection with the new residential development to less than zero, nor shall any credit against the development impact fee due to one public body or public service provider be used to offset development impact fees due other public bodies or public service providers calculated by reason of the new residential development.
(B) In the event a developer is entitled to a credit for the net reduction of the number of any or all of the lots, dwelling units or bedrooms on the property on which the development is, or is to be, located and more than one lot is created from the property on which such unit or units were located, the credit shall be equally divided among all such newly created lots. The amount of such credit due per lot shall be determined prior to recording a new plat of subdivision, and the amount of the credit for each such lot shall be set forth in the subdivision agreement, or applicable agreement, prior to recordation.
(Ord. 06-42, passed 7-20-2006; Ord. 2009-28, passed 9-21-2009)