A. Developers are entitled to credits towards the payment of impact fees if the developer dedicates, constructs, or otherwise provides an eligible offsite improvement for which the fee is assessed, subject to the following:
1. The improvements must be identified in an adopted IIP and fee report as a facility for which an impact fee was assessed. If not included in the IIP, the County must have required as a condition of approval the provision of the improvements that will substitute for or otherwise reduce the need for other similar facilities in the IIP. The County shall amend the IIP to include the subject replacement facility and delete the facility that will be replaced.
2. The improvements must be located within the same service area as the development.
3. Credits shall not be available for any facility provided by a developer if the cost of the facility will be repaid to the developer by the County through another agreement or mechanism.
4. The credit amount shall be the lessor of either the projected cost of the eligible facility identified in the IIP or the actual costs incurred by the developer in providing the eligible facility. A credit amount shall not exceed the total sum of assessed impact fees.
5. It is the responsibility of the developer to request impact fee credits, which may be part of a development agreement.
B. Credits shall only be issued pursuant to a credit agreement, subject to the following:
1. The developer requesting the credit agreement shall provide all information requested by the County to determine the value of the credit to be applied.
2. The developer shall submit an application for a credit agreement within one year of the date on which ownership or control of facility passes to the County.
3. The developer shall submit a draft credit agreement to the County for review in the form provided by the County. The draft agreement shall include, at a minimum, the following:
a. A legal description and map showing the location of the development for which the credits are being applied as well as the facility that has been or will be provided.
b. An estimate of the total EDUs that will be developed within the submitted development.
c. The physical attributes and related cost of the facility to be provided.
d. Documentation showing the date of acceptance by the County if the facility has already been provided.
e. The total amount of credits to be applied within the development and the calculations used to develop the total amount of the credits.
f. The credits to be applied to each EDU within the development.
4. If the developer sells or relinquishes part of all of a development that it owns or controls before the execution of a credit agreement or development agreement, credits resulting from the eligible facility will only be allocated to the development if the entity legally assigns such rights and responsibilities to its successor.
5. If multiple entities jointly provide an eligible facility, all entities must enter into a single credit agreement with the County, and any request for credit allocation within the subject development must be made jointly.
6. Credits may only be reallocated from or within a subject development with the County's approval of an amendment to an executed credit agreement if the entity that executed the original agreement or its legal successor and the entity that currently controls the subject development are parties to the request for reallocation and the reallocation proposal does not change the value of any credits already issued.
7. The County's determination of the credits to be allocated is final.
8. Upon execution of the credit agreement, credits shall be deemed allocated to the development.
9. Any amendment to a previously approved credit agreement must be initiated within two years of the County's final acceptance of the eligible facility for which the amendment is requested.
10. Any credit agreement approved as part of a development agreement shall be amended in accordance with the terms of the development agreement and Section 19.03.030.
11. Credits shall only be issued when the eligible facility from which the credits were derived has been accepted by the County or when adequate security for the completion of the facility has been provided in accordance with all terms of an executed development agreement.
12. Where credits have been issued, an impact fee due shall be reduced by the credits stated in or calculated from the executed credit agreement. Where credits have not yet been issued, the gross impact fee shall be paid in full, and a refund of the credits shall be due when the development demonstrates compliance with subparagraph 19.03.020(B)(11).
13. Once issued, credits may not be rescinded or reallocated to another permit or parcel except that credits may be released for reuse on the same development if a building permit for which the credits were issued has expired or been voided and is otherwise eligible for a refund. (Ord. 2020-27 § 1 (part), 2020)