The City Council will, by this chapter, approve impact fees in accordance with the IFFPs and IFAs. In calculating the impact fees, the City has based all amounts on realistic estimates and the assumptions underlying those estimates are disclosed in the IFAs, and the City has included the construction costs, land acquisition costs, costs of improvements, fees for planning, surveying, and engineering services provided for and directly related to the construction of system improvements, and outstanding or future debt service charges if the City might use impact fees as a revenue stream to pay principal and interest on bonds or other obligations to finance the cost of system improvements.
A. Notice And Hearing: In conjunction with the approval of this chapter, the City held a public hearing on November 17, 2021, gave public notice of the IFFPs and IFAs, said hearing and the City's intent to adopt this chapter at least ten (10) days before the date of said hearing by posting notice in at least three (3) public places within the City, publishing notice in newspapers of general circulation in the City and on the Utah Public Notice Website, made a copy of this Ordinance, the IFFPs, the IFAs and the Executive Summaries available to the public on the City's website and at the City's offices, all in conformity with the requirements of Utah Code Annotated 11-36a-502. After the public hearing, the City Council adopted this Impact Fee Ordinance as presented herein.
B. Contents Of The Ordinance: This chapter adopting or modifying the impact fees contain such detail and elements as deemed appropriate by the City Council, including designation of the service area within which the impact fees are to be calculated and imposed. This chapter herein includes:
1. A schedule of impact fees to be imposed, and
2. The formula to be used by the City in calculating impact fees.
C. Adjustments: The standard impact fee may be adjusted at the time the fee is assessed in response to unusual circumstances, to fairly allocate costs associated with impacts created by a development activity or project, or due to a request for a prompt and individualized impact fee review for the development activity of the State of Utah or a school district or charter school and an offset or credit for public facilities for which an impact fee has been or will be collected. The standard impact fee may also be adjusted to ensure that impact fees are imposed fairly for development activities attributable to low income housing or other development activities with broad public purposes. The impact fee assessed to a particular development may also be adjusted should the developer supply sufficient written studies and data to the City showing a discrepancy between the fee being assessed and the actual impact on the system improvement.
D. Previously Incurred Costs: To the extent that new growth and development activity will be served by previously constructed improvements, the impact fee may include public facility costs and outstanding bond costs related to improvements previously incurred by the City. These costs may include all projects included in the IFFPs which are under construction or completed but have not been utilized to their capacity, as evidenced by outstanding debt obligations. Any future debt obligations determined to be necessitated by growth activity may also be included to offset the costs of future capital projects. (Ord. 2021.28, 12-15-2021)