§ 56.20. Return of Funds.
If it is determined by the City of Orlando that transportation impact fee assessments collected pursuant to this Chapter have not been spent or encumbered for expenditure by the end of the calendar quarter immediately following six (6) years from the date said fee was received, or if the land uses for which the fees were paid have been officially and formally abandoned and it has been six (6) years since the transportation impact fees were paid, then said funds shall be eligible for refund to the then present owner in accordance with the following procedures:
A.
The then present owner must petition the City Council for the refund within one (1) year following the end of the calendar quarter immediately following five (5) years from the date on which the fee was received by the City. The petition must be submitted to the City's Transportation Planning Division Manager and must contain:
(1)
a notarized sworn statement that the petitioner is the current owner of the development site;
(2)
a copy of the dated receipt issued for payment of the transportation impact fee;
(3)
a certified copy of the latest recorded deed;
(4)
a copy of the most recent ad valorem tax bill; and
(5)
such other information which may be reasonably necessary to ascertain current ownership of the development site.
B.
Within sixty (60) days from the date of receipt of petition for refund, the Transportation Planning Division Manager or his designee shall advise the petitioner and the City Council of the status of the transportation impact fee requested for refund. For the purpose of determining whether said fees have been spent or encumbered, the first money placed in a trust fund account shall be deemed to be the first money taken out of that account when withdrawals have been made.
C.
When the money requested is still in the trust fund account and has not been spent or encumbered by the end of the calendar quarter immediately following five (5) years from the date the fees where paid, the money shall be returned with interest at the rate of three percent (3%) per annum.
D.
Any return of Transportation Impact Fees under this Section shall be reduced by three percent (3%) per annum on the applicable funds, to account for the City's administrative and processing costs. Funds paid into Proportionate Fare Share programs or transportation concurrency reservation programs, shall be returned consistent with Chapter 59.
(Ord. of 8-25-1986, Doc. #20552; Ord. of 7-16-1990, Doc. #24073; Ord. of 9-11-2006, § 1, Doc. #0609111005; Ord. of 4-13-2009, § 1, Doc. #0904131102; Ord. of 8-30-2010, § 11, Doc.#1008301103; Ord. No. 2012-40, § 1, 10-22-2012, Doc. #1210221201)