§ 9.75-77. Granting of credits.

(a)

Credit shall be given for the present value of any construction of improvements, contribution or dedication of land, or payment of money by a developer or his or her predecessor in title or interest for system improvements of the same public facilities category and in the same service area for which a development impact fee is imposed, provided that:

(1)

The system improvement is included for impact fee funding in the capital improvements element of the comprehensive land use plan;

(2)

The amount of the credit does not exceed the portion of the system improvement's cost that is eligible for impact fee funding, as shown in the capital improvements element; and

(3)

The city council shall have explicitly approved said improvement, contribution, dedication, or payment and the value thereof prior to its construction, dedication, or transfer.

(b)

The credit allowed pursuant to this section shall not exceed the impact fee due for such system improvement unless a greater credit is authorized under a private agreement executed under the provisions of article IX of this chapter.

(Ord. No. 71-06, § 8.02, 10-19-06)