(A) Should the developer fail to apply for a building permit within one (1) year of the date of execution of the proportionate fair share agreement, then the agreement shall be considered null and void, and the developer shall be required to reapply in accordance with the provisions of this section.
(B) Payment of the proportionate fair share contribution is due in full prior to issuance of the final development order or recording of the final plat and shall be nonrefundable. If the payment is submitted more than one (1) year from the date of execution of the agreement, then the proportionate fair share cost shall be recalculated at the time of payment based on the best estimate of the construction cost of the required improvement at the time of payment, pursuant to the methodology set forth in § 183.36 and adjusted accordingly.
(C) Developer improvements authorized under this subchapter involving dedications to the city must be completed upon final acceptance of the improvements and receipt of a warranty bond. The form of the warranty bond shall be approved by the City Attorney.
(D) Developer improvements authorized under this subchapter not involving dedications to city must be completed upon recording of a final plat or upon issuance of a certificate of occupancy, whichever event first occurs.
(E) Any requested change to a development project subsequent to a development order will be subject to additional proportionate fair share contributions to the extent the change would generate additional traffic.
(F) A developer may submit a letter to withdraw from the proportionate fair share agreement at any time prior to the execution of the agreement. The application fee to the city will be nonrefundable.
(Ord. 2006-128, passed 11-14-06)