§ 9.75-96. Private agreements; authorized.

Nothing in this chapter shall prohibit the voluntary mutual approval of a private contractual agreement between the city and any developer or property owner or group of developers and/or property owners in regard to the construction or installation of system improvements and providing for credits or reimbursement for system improvement costs incurred by a developer, including interproject transfers of credits or providing for reimbursement for project improvement costs which are used or shared by more than one (1) development project, provided that:

(1)

The system improvements are included for impact fee funding in the capital improvements element of the comprehensive plan; and

(2)

The amount of any credit or reimbursement granted shall not exceed the portion of the system improvement's cost that is eligible for impact fee funding.

(Ord. No. 71-06, § 10.01, 10-19-06)