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The following definitions apply in this article:
"Railyards facilities" means the infrastructure and facilities identified in the updated Railyards finance plan.
"Railyards impact fee" means the fee established by section 18.56.920 to finance the design, construction, installation, improvement, and acquisition of the Railyards facilities.
"Railyards infrastructure fund" means the infrastructure fund created by section 18.56.930.
"Railyards specific plan area" means the area identified in, and subject to, the Railyards specific plan adopted by the City council on November 10, 2016 (Resolution No. 2016-0380), as it may be amended.
"Updated Railyards finance plan" means the City council-approved finance plan that calculates the Railyards impact fee amounts. (Ord. 2018-0045 § 1)
The Railyards impact fee is established and imposed on all parcels located within the Railyards specific plan area for the following types of development:
A. New dwelling units, buildings, or structures.
B. Additions to the commercial building area or residential building area of a building or structure.
C. Changes in use of a building or structure. (Ord. 2018-0045 § 1)
A. The Railyards infrastructure fund is established. The city shall deposit all revenues generated by the Rail-yards impact fee, and any interest earned on the fund balance, into the fund.
B. The city shall use the Railyards infrastructure fund to:
1. Finance the design, construction, installation, improvement, and acquisition of Railyards facilities.
2. Reimburse the city for administrative costs identified in the updated Railyards finance plan.
3. Reimburse landowners and holders of development credits consistent with section 18.56.940 and the updated Railyards finance plan. (Ord. 2018-0045 § 1)
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