Ordinance 2003-1436 - Laserfiche WebLink

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Se Bo transferor or transferee, or both (as appropriate) enter into an amendment to the Credit Agreement to assure the performance of such obligations. Total Amount of Credit. The total amount of the credit shall not exceed the amount of the Impact Fees due for the individual facility component. Capital Contribution Front-Ending Agreement. The City may enter into a Capital Contribution Front-Ending Agreement with any person who proposes to construct Capital Facilities to the extent the fair market value of the construction of these Capital Facilities exceed the obligation to pay Impact Fees for which a credit is provided pursuant to this Section. The Capital Contribution Front-Ending Agreement shall provide proportionate and fair share reimbursement linked to the Impact-Generating Development's use of the Capital Facilities constructed. Procedure. Submission of Application. In order to obtain a credit against Impact Fees otherwise due, the Fee Payer shall submit an offer for contribution, construction or dedication of land. The offer shall be submitted to the City Planning Director or designee, and must specifically request a credit against Impact Fees. Offer Contents. The offer for credit shall include the following: (a) Dedication of Land. If the proposed offer involves credit for the dedication of land for Capital Facilities: (1) A drawing and legal description of the land; (2) The value of the land at the date a Building Permit is proposed to be issued for the Impact-Generating Development, prepared by a professional Real Estate Appraiser, and if applicable, a certified copy of the Development Permit in which the land was agreed to be dedicated. (b) Construction. If the proposed credit involves construction of Capital Facilities: (1) The proposed plan of the specific construction certified by a duly qualified and licensed Colorado engineer or contractor; (2) The projected costs for the suggested improvement, which shall be based on local information for similar improvements, along with the construction timetable for the completion thereof. Such estimated costs shall include the costs of construction or reconstruction, the costs of all labor and materials, the costs of all lands, property, rights, easements and franchises acquired, financing charges, interest prior to and during construction and for one (1) year after completion of construction, costs of plans and specifications, surveys of estimates of costs and of revenues, costs of professional services, and all other expenses necessary or incident to determining the feasibility or practicability of such construction or reconstruction; 12