(A) An applicant may apply for a credit as set forth in this section, which credit shall be applied to offset the transportation impact fee that would otherwise be imposed for the project.
(B) Credit shall be provided for any dedication or conveyance of land from the applicant to the town. The amount of the credit shall be the present, fair market value of the land being dedicated or conveyed, as determined by the town in its reasonable discretion.
(C) Credit shall be provided for any construction of town-approved system level transportation infrastructure or facilities as identified in the Vail Transportation Impact Fee Study, undertaken by the applicant at the applicant’s cost that offset the transportation impacts of the project. The transportation infrastructure or facilities may be constructed as part of the project, or in other areas of the town, as determined by the town and the applicant. The value of the credit shall be determined by the town, in its reasonable discretion, considering the total cost of construction and other relevant factors.
(D) Credit shall be provided for any transportation services provided by the applicant at the applicant’s cost, that offset the transportation impacts of the project, as approved by the town. The value of the credit shall be determined by the town, in its reasonable discretion, considering actual costs to provide the services and other relevant factors.
(Ord. 4(2017) § 1)