A. If a building permit for a project expires without commencement of construction, then the fee payer shall be entitled to a refund, without interest, of the development impact fee paid as a condition for its issuance, except that the town shall retain a reasonable amount, not less than thirty dollars ($30.00) nor more than five percent (5%) of the fee paid to offset a portion of the costs of collection, monitoring, and refund. The fee payer must submit an application for such a refund to the director within thirty (30) calendar days after the expiration of the permit.
B. Any funds not expended, encumbered, or scheduled pursuant to Government Code section 66001 by the end of the fiscal year immediately following five (5) years from the date the impact fee was paid (and for which the findings required by Government Code section 66001(d) are not made pursuant to Government Code section 66006) shall, upon application of the then current landowner, be returned to such landowner with interest earned during the five (5) year period; provided that the landowner submits an application for refund to the town within one hundred eighty (180) calendar days of the expiration of the five (5) year period.
C. Except as provided in subsection B of this section, the town shall refund to the current record owner on a prorated basis the unexpended or uncommitted portion of the fees, and any interest accrued thereon, for which a need cannot be established. (Ord. 173, 11-10-2005)