Where a subdivider is required as a condition of approval of a tentative map or tentative parcel map to pay fees relating to providing improvements or performing services to the subdivision and the subdivider enters into an agreement secured pursuant to this division to defer installing improvements required by section 81.404 or section 81.708, the subdivider may defer payment of these fees. In that case the agreement shall provide that the fees shall be paid before the work commences for which the fee was required or before the County issues a building permit, whichever comes first. The amount of the security accompanying the agreement shall be increased to include the amount of the fees. The amount of the fees shall include an adjustment factor to represent the effects of inflation as represented in the Market Trends Index as published in the "Engineering News Record" or a similar index as determined appropriate by the Director. This section shall not apply to any fee that State law or a County ordinance provides for a different payment time.
(Added by Ord. No. 10037 (N.S.), effective 3-26-10; amended by Ord. No. 10529 (N.S.), effective 5-18-18)