(A)   A property owner and/or developer or developer who constructs a qualified public improvement to either the transportation, parks, sanitary sewer, storm water or the water system may be eligible for a credit to be applied against the appropriate category of the System Development Fee (SDF). A qualified public improvement, as referenced, means a capital improvement that is:
      (1)   Required as a condition of development approval;
      (2)   Is identified in the transportation, park, water, wastewater or storm system master plans; and
      (3)   Is either: (a) not located within or immediately adjacent to property that is the subject of development approval, or is (b) located in whole or in part within or immediately adjacent to property that is subject to development approval and is required to be constructed by the particular development project to which the SDF is related.
   (B)   A public improvement that is eligible for SDF credit is one that is designed and built in accordance with the appropriate utility master plan and/or identified within the Capital Improvement Program of the city. Infrastructure lines that are sized to accommodate a developer's individual service and fire protection needs do not qualify for SDF credits. SDF credits are possible only for projects identified in the adopted SDF program (Nexus Analysis).
   (C)   Establishing and recording System Development Fee credits:
      (1)   The property owner and/or developer or developer shall submit a written request for an evaluation of SDF credits at the same time as they make the application for Public Improvement Plan Review.
      (2)   The written request shall include the engineer's detailed construction cost estimate for the qualified infrastructure to be constructed.
      (3)   The method for estimating eligible SDF credits will be determined by comparing the project engineers cost estimate against current water and sewer construction costs developed by the City Engineer.
      (4)   Once the Developer has completed construction of the infrastructure, and before the improvements have been accepted by the city, the City Engineer may request documentation of final construction costs to verify actual costs. Actual construction bids shall be provided by the developer and shall consist of certified payment statements for materials and construction. If the actual construction costs are less than or equal to the construction cost estimates that the system development fee credits were based on, the agreement amount(s) will be revised accordingly. If the final construction costs exceed the construction estimates agreed to by the City Engineer and/or as provided in the adopted SDF Program, as modified from time to time by the City Council, the original agreement amount might be modified to reflect the extra costs. Any expense in excess of the costs adopted in the SDF Program will be forfeited by the owner and/or developer unless the City Council agrees to some other form of reimbursement like an area of benefit.
(Ord. 2015-016, passed 10-27-15)