The Mayor and Common Council find as follows:
(A) The development of residential and other property in the affected territory will generate additional vehicle travel. This traffic will create a need for expansion of existing streets, signals, and bridges to accommodate increased traffic from new residential development and commercial/industrial development.
(B) The Master Facility Plan establishes the costs and a fair method for the allocation of costs and fee apportionment, and the apportioned fees are applicable to all property within the affected territory.
(C) The provision of expanded streets, signals, and bridges is identified in the Circulation System section of the Master Facility Plan and is necessary to provide adequate streets and roadways services within the City.
(D) The General Plan of the City includes and identifies in the Circulation Element and the transportation provision thereof, among other things, streets, signals, and bridges within the City with the primary purpose of carrying through traffic and providing a network connecting to the state highway system.
(E) The entire affected territory will derive benefit from the construction or reconstruction of streets, signals, and bridges and should be assessed per the provisions of this chapter and pay a fair share of the cost thereof based on the benefit derived therefrom.
(F) After consideration of the development impact fee report, the addendum thereto and testimony at this public hearing, the Mayor and Common Council hereby approve the development impact fee report and the addendum, and based thereon finds that new development in the affected territory will create streets and roadways needs that the construction and acquisition of the public improvements funded by this chapter will meet.
(G) The Mayor and Common Council also find that the cost of the streets, signals, and bridges funded by this chapter is apportioned relative to the anticipated contribution to traffic created by residential and other development in the affected territory, and that the fees are fairly apportioned on individual dwelling units and commercial/ industrial space throughout the affected territory on the basis of benefits conferred on property to be developed and the need for such streets and roadways created by such development.
(H) The facts and evidence establish that there is a reasonable relationship between the need for the described public facilities and the needs created by the types of development on which the fee will be imposed, and that there is a reasonable relationship between the fee's use and the types of development for which the fee is charged. This reasonable relationship is described in more detail in the development fee impact report and the addendum thereto.
(I) The cost estimates set forth in the development impact fees report are reasonable cost estimates for constructing or reconstructing the streets and roadways proposed therein and the fees collected from residential and other development will not exceed the reasonably estimated total of these costs.
(J) The streets, signals, and bridges fees collected pursuant to this chapter shall be used only to finance the streets and roadways described or identified in the Circulation System section of the Master Facility Plan.
(K) The local circulation systems fee is hereby imposed on new residential, commercial, and industrial development, and the amount of such fee shall be set by resolution of the Mayor and Common Council.