Chapter 3.06
TRANSPORTATION IMPACT FEES
Sections:
3.06.010 Establishment and purpose.
3.06.010 Establishment and purpose.
There is hereby created a special purpose transportation impact fee fund. (Ord. 970-07 § 1)
3.06.020 Funding sources.
All transportation impact fees shall be deposited into the transportation impact fee fund. Procedures for administration of the funds shall be established by the finance department. Investment interest generated by these fees may be allocated in accordance with state law. (Ord. 970-07 § 1)
3.06.030 Use of funds.
A. Transportation impact fees shall be used for development of transportation facilities that constitute system improvements.
B. Impact fees may be spent on the following items to the extent that they directly relate to a particular system improvement: facility planning, land acquisition, site improvements, necessary off-site improvements, facility construction, facility engineering and design work, facility permit fees, facility financing, grant-matching funds, applicable mitigation costs, capital equipment pertaining to a particular system improvement, and any other capital costs related to a particular system improvement, including but not limited to signalization, traffic safety, and nonmotorized transportation improvements.
C. Impact fees may also be used to recoup transportation facility improvement costs previously incurred by the city to the extent that new growth and development will be served by the previously acquired or constructed improvements resulting in such 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. 970-07 § 1)
3.06.040 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. 970-07 § 1)