Any monies contributed to the County pursuant to the provisions of this ordinance shall be payable to the County of Yolo for the purpose of providing affordable housing. Payment of the fee shall be made in full prior to Filing of the Final Map, issuance of the first Building Permit, or Issuance of a Certificate of Occupancy, whichever occurs first.
(a) In-lieu fees collected pursuant to this chapter shall be placed by the Planning, Public Works and Environmental Services Department in a separate interest bearing account identified as "Affordable Housing Program". All fees collected shall be earmarked to provide supplemental funding for Affordable Housing Developers.
(b) The Planning, Public Works and Environmental Services Department shall maintain a register for the Affordable Housing Program indicating the date of payment of each fee, the amount paid, the name of the payer, and the Assessor's Parcel Number.
(c) The Planning, Public Works and Environmental Services Department shall prepare an annual accounting of all fees paid into and withdrawn from each account, showing the source and amounts collected, the amounts expended, and the projects for which such expenditures were made.
(d) Any fees collected and interest accrued pursuant to this chapter shall be expended or encumbered within five (5) years of receipt, in accordance with Government Code Section 66006 et seq. unless the Board of Supervisors identifies in written findings the extraordinary and compelling reasons for the County to hold the fees beyond the five (5) year period. Under such circumstances, the Board of Supervisors shall establish the period of time within which the impact fees shall be expended or encumbered.
(Ord. 1451, eff. January 1, 2015)