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under this Chapter. Such credit shall be freely transferable to any other developer, <br />but shall be transferred in a manner acceptable to the City Manager so as to ensure <br />accurate tracking of the transfer of credits by the City. A credit shall expire five <br />years after it is awarded unless, within that time, the City executes an agreement <br />with the holder of the credit to apply the credit to a specified development. Before <br />the credit expires, the City Manager may, upon request, in writing, and for good <br />cause, extend the term of the credit by one additional term of two years. <br />Sec. 17.76.100 Marketing and sale of units. <br />Rules and regulations under Section 17.76.110, below, may address <br />marketing and sale of units to ensure that the community has sufficient notice of <br />available affordable housing. <br />Sec. 17.76.110 Rules and regulations. <br />The City Manager may adopt such reasonable rules and regulations as may <br />be necessary for the purpose of administering, interpreting, or enforcing the <br />provisions of this Chapter. <br />Sec. 17.76.120 Objections and appeals. <br />A. It is the intention of the City that the application of this Chapter shall <br />comply with all statutory and constitutional requirements, including not resulting <br />in an unlawful taking of private property without the payment of just compensation. <br />B. Any applicant for the development of a housing project who <br />believes that the application of this Chapter would affect such an unlawful taking <br />may apply to the City Manager for an adjustment of the requirements imposed by <br />this Chapter. Such application must state with specificity the adjustment requested <br />and the legal basis therefor. <br />C. If the City Manager determines that the application of the <br />requirements of this Chapter would result in an unlawful taking of private property <br />without just compensation, the City Manager may alter, lessen or adjust <br />permanently affordable dwelling unit requirements as applied to the particular <br />development under consideration such that there is no unlawful uncompensated <br />taking. <br />D. If, after reviewing such application, the City Manager denies the <br />relief sought by an applicant, the applicant may request an administrative hearing <br />to seek relief from the provisions of this Chapter. Any such hearing shall be <br />conducted by a hearing officer retained by the City. At such hearing, the burden of <br />proof will be upon the applicant to establish that the fulfillment of the requirements <br />of this chapter would affect an unconstitutional taking without just compensation <br />pursuant to applicable law of the United States and the state of Colorado. If it is <br />Ordinance No. 1809, Series 2021 <br />Page 13 of 15 <br />