Sec. 5-104  Credit in Lieu of Payment Exemptions.
   a.   Any person or entity obligated to pay a fee pursuant to the terms of this ordinance may have the option of financing, constructing and dedicating park and recreational infrastructure in the form of block parks owned and operated by a neighborhood association for the public benefit, all as described and defined in the park and recreation improvement plan, instead of making all or part of any impact fee payment which may be due, so long as such financing, construction and dedication are accomplished pursuant to the park and recreational improvement plan of the Town, and in accordance with the park and recreational specifications for such park and recreational infrastructure to be improved in force within the Town's jurisdiction at the time. Such fee payer, or other person or entity providing the infrastructure or improvement, shall be given credit for the actual costs of planning, financing, constructing such park and recreational improvements to the Town. Such request for credit shall be presented prior to the issuance of the structural building permit. In the event the actual cost of such planning, financing, and construction do not equal the amount of the impact fee due pursuant to the calculation provided for in the schedule set forth in Section 4 hereof, the remaining balance she be due in accordance with the provisions stated hereafter.
   b.   Credits against impact fees otherwise due shall be allowed pursuant to this section for all infrastructure and improvements constructed or furnished in accordance with Indiana Code, § 36-7-4-1313 and Indiana Code, § 36-7-4-1335 since January 1, 1989. In addition, a fee payer or other person or entity responsible for installing infrastructure or improvements may designate in writing a method of allocating its credits to future fee payers who may be successors in interest to the credits earned by the fee payer or others, as part of the certification provided for above.
   c.   Any person or entity otherwise obligated to pay the fee established by this ordinance whose property was totally or partially destroyed by fire, storm or other casualty beyond their control, shall be exempt from said fee if they repair or replace the destroyed structure without creating a burden on infrastructure greater than the burden imposed by the destroyed structure. In the event of such additional burden, the fee shall be calculated based only on the increased burden created by the structure.
(Ord. No. 1400, § 5, 11-26-97)