The following requirements shall apply regarding impact fee credits and proportionate share mitigation.
(A) Proportionate fair-share mitigation shall be applied as a credit against impact fees only when a transportation facility has a segment for which the local government transportation impact fee is being applied. Credits will be given for that portion of the applicant’s transportation impact fees that would have been used to fund the improvements on which the proportionate fair-share mitigation is calculated. If the proportionate fair-share mitigation is based on only a portion of the development’s traffic, the credit will be limited to that portion of the impact fees on which the proportionate fair-share mitigation is based.
(B) Impact fee credits for the proportionate fair-share mitigation will be determined when the transportation impact fee is calculated for the proposed development. If the applicant’s proportionate fair-share mitigation is less than the development’s anticipated road impact fee for the specific stage or phase of development under review, then the applicant or its successor must pay the remaining impact fee amount to the city pursuant to the requirements of the city impact fee ordinance.
(C) The proportionate fair-share mitigation is intended to mitigate the transportation impacts of a proposed development at a specific location. As a result, any road impact fee credit based upon proportionate fair-share mitigation for a proposed development cannot be transferred to any other location.
(Ord. 531, passed 1-9-2007)