3.07.120 Credits.
The finance director may approve administrative rules for the implementation of the credit policies of this chapter.
A. A TSDC shall be imposed when a change of use of a parcel or structure occurs, but credit shall be given in an amount equal to the existing TSDC as applied to the preexisting type and level use. The credit so computed shall not exceed the calculated TSDC. No refund or credit shall be made on account of such credit.
B. An improvement fee credit shall be given for the cost of a bonded or completed qualified public improvement associated with a development upon acceptance by the City of the improvement, subject to the following conditions:
1. Such credit shall be only for the actual, estimated, or agreed-upon cost of that portion of such improvement that the adopted methodology includes in the cost basis of the improvement fee. The applicant shall have the burden of demonstrating that a particular improvement is a qualified public improvement per BC 3.07.080. The request for credit shall be filed in writing no later than 60 days after acceptance of the improvement by the City.
2. When the construction of a qualified public improvement gives rise to a credit amount greater than the improvement fee that would otherwise be levied against the project receiving development approval, the excess credit may be applied against improvement fees that accrue in subsequent phases of the original development project, if any.
3. Credits shall be used within 10 years from the date the credit is given, after which the credit shall expire, and be null and void, without the need for the city to take any further action.
4. Credit shall not be transferable from one type of capital improvement to another.
5. Credits may be transferable from one development to another within the geographic area subject to the TSDC.
6. Credits for any TSDC, or for the Washington County transportation development tax, shall only be used for obligations relating to the charge and capital improvement type for which the credit was issued.
C. Reimbursement in excess of credits shall be granted for that portion of the actual, estimated, or agreed-upon cost of a qualified public improvement that exceeds the improvement fee credit granted under subsection B of this section, subject to the following conditions:
1. In no event shall the sum of improvement fee credits and reimbursement in excess of credits exceed actual costs incurred by the developer.
2. Reimbursement in excess of credits is subject to budgetary appropriation, but in no event will reimbursement be made later than 15 years from the time that the qualified public improvement is accepted by the City. [BC 3.07.120, added by Ordinance No. 4661, 7/14/15]