A development impact fee is authorized on the issuance of all building permits for development within the city to finance the cost of public facilities and improvements required by new development.
The city council shall, by council resolution, set forth the specific amount of the fee, describe the benefit and impact area on which the development impact fee is imposed, list the specific public improvements to be financed, describe the estimated cost of these facilities, describe the reasonable relationship between this fee and the various types of new developments and set forth the time for payment.
On an annual basis, the city council shall review this fee to determine whether the fee amounts are reasonably related to the impacts of development and whether the described public facilities are still needed. (Ord. 50 § 3, 1990)