(A) The impact fee imposed pursuant to the terms of this subchapter shall be due and payable upon the issuance of a structural building permit by the town. In this regard, it is understood that the structural building permit is synonymous with the term “structural building permit” as that term is used in I.C. 36-7-4-1323, in that the issuance of a structural building permit authorizes the applicant to commence construction activities, structural and otherwise. The entire fee which is calculated pursuant to the terms of this subchapter shall be due at said time unless the amount of the fee upon calculation is greater than $5,000, in which case an installment plan may be requested by the applicant in accordance with the terms set forth in I.C. 36-7-4-1324(a), I.C. 36-7-4-1324(b), I.C. 36-7-4-1324(c) and I.C. 36-7-4-1324(d). The Town Impact Fee Review Board shall establish specific rules consistent with said code provisions for installment payments. The interest rate on any installment plan or deferred payment shall be the pre-judgment rate of interest set forth in the Indiana Code as from time to time amended.
(B) If a fee payer requests, the amount of the impact fee shall be assessed upon the voluntary submission of a development plan or upon the issuance of the improvement location permit, whichever is earlier. For purposes of this section, ASSESSMENT means the act of calculating the amount of the impact fee which shall be due. The town shall make such assessment within 30 days of the date of such voluntary request or at the issuance of the improvement location permit with or without a request.
(Ord. 30-2022, passed 6-27-2022)