(A) Once each fiscal year, the city council shall identify all unexpended or uncommitted development fees in each development fee account.
(B) With respect to any portion of development fees unexpended or uncommitted five or more years after deposit in a development fee account, the city council shall make findings once each fiscal year to identify the purpose to which the fee is to be put and to demonstrate a reasonable relationship between the fee and the purpose for which it was charged. Such findings need be made only for money, and not for letters of credit, bonds or other instruments taken to secure payment of the fees at a future date. If the city council makes such findings, the fees are exempt from the refund requirements.
(C) The city shall refund to the then current record owner or owners of lots or units of the development project or projects on a prorated basis the unexpended or uncommitted portion of the fee, and any interest accrued thereon, for which need cannot be demonstrated pursuant to subsection (B).
(D) If the city council finds that the administrative costs of refunding unexpended or uncommitted development fees exceed the amount to be refunded, the city council, after a public hearing, notice of which shall be published in accordance with Cal. Gov’t Code, Section 6061 and posted in three prominent places within the area of each development project subject to a refund, may determine that the revenues shall be allocated for other capital improvements for which development fees are collected and which serve the development projects on which the fee was originally imposed.
(E) The city may refund the unexpended or uncommitted portions of development fees by direct payment, by temporarily suspending fees, by offsetting the refunds against other development fees due for development projects on the property, or by other means agreed to by the property owner.
(`64 Code, Sec. 27-88.12) (Ord. No. 2258, 2979)