(A) Establishment Of Trust Fund And Accounts:
1. A development impact fee trust fund (the “trust fund”) is hereby established for the purpose of ensuring that the development impact fees collected pursuant to this chapter are used to address impacts reasonably attributable to new development for which the development impact fees are paid.
2. The trust fund shall be divided into four (4) accounts: a police capital facilities account, a fire/EMS capital facilities account a, parks and recreation capital facilities account, and a street capital facilities account.
3. The development impact fee trust fund shall be maintained in an interest bearing account. The interest earned on each account shall not be governed by Idaho Code section 57-127, but shall be considered funds of the account and shall be subject to the same restrictions on uses of funds as the development impact fees on which the interest is generated.
4. Monies in each account shall be spent in the order collected, on a first in/first out basis.
(B) Deposit And Management Of The Trust Fund:
1. All development impact fees collected by the city pursuant to this chapter shall be promptly deposited into the appropriate account in the trust fund.
2. The city shall maintain accounting records for each account.
3. As part of its annual audit process, the city shall prepare an annual report: a) describing the amount of all development impact fees collected, appropriated, or spent during the preceding year for each capital improvements element and service area; and b) describing the percentage of taxes and revenues from sources other than development impact fees collected, appropriated or spent for system improvements during the preceding year by capital improvements element and service area.
(C) Limitations On Expenditures Of Fees In Accounts:
1. Park And Recreation Impact Fee: The monies collected from the park and recreation impact fee shall be used only to plan for, acquire, or construct park and recreation capital facilities, or to pay debt service on any portion of any future general obligation bond issue or revenue bond issue or similar instrument used to finance the acquisition or construction of park capital facilities within the city, or to reimburse the city for such costs.
2. Street Impact Fee: The monies collected from the street impact fee shall be used only to plan for and acquire or construct street capital facilities, or to pay debt service on any portion of any future general obligation bond issue or revenue bond issue or similar instrument used to finance the acquisition or construction of street capital facilities within the city, or to reimburse the city for such costs.
3. Police Impact Fee: The monies collected from the police impact fee shall be used only to plan for and acquire or construct police capital facilities, or to pay debt service on any portion of any future general obligation bond issue or revenue bond issue or similar instrument used to finance the acquisition or construction of public safety capital facilities within the city, or to reimburse the city for such costs.
4. Fire/EMS Impact Fee: The monies collected from the fire/EMS impact fee shall be used only to plan for and acquire or construct fire/EMS capital facilities, or to pay debt service on any portion of any future general obligation bond issue or revenue bond issue or similar instrument used to finance the acquisition or construction of public safety capital facilities within the city, or to reimburse the city for such costs.
5. Development Impact Fees: Development impact fees shall not be used to pay for any purpose that does not involve system improvements that create additional service available to serve new growth and development. (Ord. 2021-017, 10-11-2021)
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