(a) A property owner who dedicates land or otherwise contributes funds for capital improvements as defined in this chapter may, in the discretion of the Village Council, be granted a credit for such contribution against the Impact Fee otherwise due.
(b) Any application for credit must be submitted on forms provided by the Village before approval of the Development Project. The application shall contain a declaration, under oath, of those facts which purport to qualify the property owner for the credit, accompanied by all relevant documentary evidence.
(c) The Village Engineer shall determine the value of the developer contribution; whether the contribution meets the capital improvement needs for which the Impact Fee has been imposed; and whether the contribution will substitute or otherwise reduce the need for the capital improvements anticipated to be funded by Impact Fee funds. In no event, however, shall the credit exceed the amount of the otherwise applicable Impact Fee.
(d) A credit shall be afforded to the Development Project if the Council approves such credit by a majority vote.
(Ord. 96-112. Passed 4-4-96.)
(Ord. 96-112. Passed 4-4-96.)