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to the City's Municipal Capital Facilities, Police Capital Facilities and Transportation Capital <br />Facilities, and the Impact Fee system adopted in this Ordinance. <br /> <br />Impact Fees based on Impact Fee Study. <br />The Impact Fees imposed on new development in this Ordinance are based on the Impact <br />Fee Study and assumptions and LOS standards referenced in the Impact Fee Study. The Impact <br />Fees are no greater than necessary to defray the projected impacts directly related to <br />proposed new development. <br /> <br />Impact Fees Not Remedy Existing Deficiency. <br />This Ordinance creates a system under which Impact Fees shall not be used to remedy any <br />deficiency in Municipal Capital Facilities, Police Capital Facilities or Transportation Capital <br />Facilities existing on the effective date of this Ordinance. <br /> <br /> Section <br />read as follows: <br /> <br />Impact Fees Finance and Defray Costs for Capital Facilities that Benefit New <br />Development. <br />This Ordinance creates a system under which Impact Fees paid by new development will be <br />used to finance or defray all or a portion of the costs incurred by the City to construct City <br />Municipal Capital Facilities, Police Capital Facilities, and Transportation Capital Facilities to <br />serve new development in ways that benefit the development that paid each Fee within a <br />reasonable period of time after the Fee is paid. <br /> <br />2. Chapter 3.18 of the Louisville Municipal Code is hereby repealed and reenacted to <br /> <br />Chapter 3.18 <br /> <br />DEVELOPMENT IMPACT FEES <br /> <br />Sec. 3.18.010 <br />Sec. 3.18.020 <br />Sec. 3.18.030 <br />Sec. 3.18.040 <br />Sec. 3.18.050 <br />Sec. 3.18.060 <br />Sec. 3.18.070 <br />Sec. 3.18.080 <br />Sec. 3.18.090 <br />Sec. 3.18.100 <br />Sec. 3.18.110 <br /> <br />Short title, authority and applicability. <br />Intent. <br />Definitions <br />Development impact fee to be imposed. <br />Credits. <br />Impact fee trust fund. <br />Expenditure of impact fees. <br />Benefit districts. <br />Refunds of impact fees not spent or encumbered in six (6) years. <br />Review every five (5) years. <br />Miscellaneous provisions. <br /> <br />Sec. 3.18.010 Short Title, Authority and Applicability. <br /> <br />A. Title. <br /> <br />This Chapter shall be known and may be cited as the "Louisville, Colorado Impact Fee <br />Ordinance" or "Impact Fee Ordinance." <br /> <br />B. Authority. <br /> <br />The City has the authority to adopt this Chapter pursuant to Article XX § 6 of the Colorado <br />State Constitution, the City's home rule charter, the City's general police powers, and other <br />relevant laws of the State of Colorado. <br /> <br />2 <br /> <br /> <br />