Chapter 3.05
PARK IMPACT FEES
Sections:
3.05.010 Establishment and purpose.
3.05.010 Establishment and purpose.
There is hereby created and established a special purpose park and recreation facilities impact fee fund (“the park impact fee fund”) to receive park impact fees. (Ord. 969-07 § 1)
3.05.020 Funding sources.
All park impact fees shall be deposited into the park impact fee fund. Procedures for administration of the funds shall be established by the finance department. Investment interest income generated by these fees may be allocated in accordance with state law. (Ord. 969-07 § 1)
3.05.030 Use of funds.
A. Park impact fees shall be used for development of parks, open space, passive recreation parks, linear trail parks, and recreation facilities to serve new growth and development in Sultan; provided, that such impact fees may only be spent on system improvements.
B. Impact fees may be spent on the following items to the extent that they relate to a particular system improvement: facility planning, land acquisition, site improvements, necessary off-site improvements, facility construction, facility engineering and design work, facility permitting fees, facility financing, grant matching funds, applicable mitigation costs, capital equipment pertaining to public facilities, and any other expenses which can be capitalized and are consistent with the capital facilities plan.
C. Impact fees may also be used to recoup park facility improvement costs previously incurred to the extent that new growth and development will be served by the previously acquired or constructed improvements or incurred costs.
D. In the event that bonds or similar debt instruments are or have been issued for the construction of public facility or system improvements for which impact fees may be expended, impact fees may be used to pay debt service on such bonds or similar debt instruments to the extent that the facilities or improvements provided are consistent with the requirements of this chapter and are used to serve new development. (Ord. 969-07 § 1)
3.05.040 Reporting.
Annually, the city shall prepare a report on the impact fee account showing the source and amount of all moneys collected, interest earned, and capital or system improvements that were financed in whole or in part by these impact fees. (Ord. 969-07 § 1)