A. Establishment and Administration of Collector Sewer Fee Fund. The city director of finance is directed to establish and administer a special interest-bearing fund entitled "Bell Avenue collector sewer fee fund." All collector sewer fees collected pursuant to this section shall be deposited into this fund. The monies in this fund shall be expended solely for the construction or reimbursement of construction of the collector sanitary sewer improvements and to reimburse the city for the cost of engineering and administrative services related to district formation, administration, design and construction.
B. Payment of Collector Sewer Fee. The collector sewer fees imposed by this chapter shall be paid to the city by any owner of a property within the sewer benefit area, not exempted pursuant to subsection D of this section, prior to approval of a final subdivision map, final parcel map, issuance of a building permit or connection to the plan improvements, whichever occurs first. After the maximum fee per gross acre as set forth herein has been paid for a property, no additional fee pursuant to this title shall be imposed for further subdivision, permits or other entitlements granted to such property.
C. Determination and Adjustment of Collector Sewer Fee. The collector sewer fees assessed under this chapter shall be determined and adjusted as necessary by resolution of the city council.
D. Properties Exempted from Collector Sewer Fee. The city council will by resolution designate the property encompassed by the I-80 industrial park area. All properties designated by the city council to be within the I-80 industrial park area shall be exempted from the collector sewer fee. The cost of the collector sanitary sewer serving this area shall be financed by a future assessment district or developer funding.
E. Reimbursement and Fee Credit Agreement. If a collector sewer is constructed such that it will benefit properties other than those funding the construction, the city may enter into a reimbursement agreement with the party funding the construction to reimburse, or partially reimburse, said party for the pro rata cost of the portion of the construction which benefits such other nonparticipating properties. The cost of construction shall be the amount of the low bid plus a fifteen (15) percent allowance for engineering, administration, and inspection. The agreement may also provide for a credit inlieu of payment of all or a portion of the collector sewer fee. The credit will be based on the collector sewer construction costs and will be determined by the department of public works. The following conditions shall be contained in each reimbursement agreement:
1. The term of the agreement shall be ten (10) years from the date of approval by the city.
2. The estimated cost to the city in administering each agreement, which will be determined by resolution of the city council shall be deducted from the amount to be reimbursed.
3. A minimum of three bids must have been received for the construction being considered for reimbursement. (Prior code § 78.01.120)