§ 9.75-97. Private agreements; provisions.

A private contractual agreement for system improvements may include, but shall not be limited to, provisions which:

(1)

Modify the estimates of impact on public facilities according to the methods and provisions concerning the calculation of impact fees, provided that any such agreement shall allow the city to assess additional development impact fees after the completion of construction according to schedules set forth in this chapter.

(2)

Permit construction of, dedication of property for, or other in-kind contribution for specific public facilities of the type for which development impact fees would be imposed in the same service area in lieu of or with a credit against applicable development impact fees.

(3)

Permit a schedule and method of payment appropriate to particular and unique circumstances of a proposed project in lieu of the requirements for payment under this chapter, provided that acceptable security is posted ensuring payment of the development impact fees. Forms of security that may be acceptable include a cash bond, irrevocable letter of credit from a bank authorized to do business within the State of Georgia, a surety bond, or lien or mortgage on lands to be covered by the building permit.

(Ord. No. 71-06, § 10.02, 10-19-06)