(A) In the event an owner or tenant requests water or wastewater capacity allocation so he or she may divide property into more than 20 residential lots or any number of nonresidential lots, he or she shall pay a capacity allocation fee prior to receiving a water or wastewater allocation.
(B) The capacity allocation fee schedule shall be 50% of the applicable amount pursuant to the system development fee schedule, as shown in § 52.01.
(C) Any capacity allocation which is unused shall expire and terminate five years from the date of issuance, after which time the fee is not refundable.
(D) Prior to expiration, unused allocation may be voluntarily terminated by the owner/tenant and considered by the town for refund. Any refund and the amount thereof shall be in the sole absolute discretion of the town.
(E) The percentage of unused lots is calculated by subtracting the number of lots shown on a plat of a survey of the property recorded in the office of the Register of Deeds of Cherokee County, North Carolina, from the total number of lots allocated, and then dividing the difference by the total number of lots allocated. The maximum amount of any refund for residential property shall be calculated by multiplying the fee paid by the percentage of unused lots and then multiplying the product by the percentage of the five-year period remaining.
(F) For nonresidential development, a plan of the development showing the water and/or sewer requirements shall be provided to the town. In the event that the cost allocation request changes, a new plan of development showing the new water and/or sewer requirements shall be provided to the town.
(Ord. passed 12-3-2018)