(A) When an impact fee charge based on a meter size of four inches or more is due and collectible, the owner of the parcel of land subject to the impact fee may apply for payment in six semi-annual installments, to include interest (at two points above the prime rate at the time of request) on the unpaid balance which shall be secured by a lien on the parcel subject to the impact fee.
(B) The impact fee program administrator shall provide application forms for installment payments, which shall include a waiver of all rights to contest validity of the lien, except for the correction of computational errors.
(C) An applicant for installment payments shall have the burden of demonstrating the applicant’s authority to assent to the imposition of a lien on the parcel and that the property interest of the applicant is adequate to secure payment of the lien.
(D) The impact fee program administrator shall report to the City Clerk the amount of the impact fee charge, the dates on which the payments are due, the name of the owner, and the description of the parcel.
(E) The City Clerk shall record the lien for the unpaid portion of the impact fee charge. From that time the city shall have a lien upon the described parcel for the amount of the impact fee charge, together with interest on the unpaid balance at the rate established by the Council. The lien shall be enforceable in the manner provided KRS 82.720.
(F) For property that has been subject to a cancellation of assessment of impact fees, a new installment payment contract shall be subject to the code provisions applicable to impact fees and installment payment contracts on file on the date the new contract is received by the city.
(Ord. 2017-30, passed 11-21-17)