A. The Delta Shores infrastructure fund is established. The city shall deposit all revenues generated by the Delta Shores impact fee, and any interest earned on the fund balance, into the fund.
B. The city shall use the Delta Shores infrastructure fund to:
1. Finance the design, construction, installation, improvement and acquisition of Delta Shores facilities.
2. Reimburse the city for administrative costs identified in the updated Delta Shores finance plan.
3. Reimburse landowners and holders of development credits consistent with section 18.56.1040 and the updated Delta Shores finance plan. (Ord. 2019-0034 § 2)