§ 59.1007. Impact fee credit for proportionate fair-share mitigation.

(1)

Proportionate fair-share contributions, as calculated in subsection (5) herein, shall be applied as a credit, as calculated herein, against transportation impact fees to the extent that all or a portion of the proportionate fair-share mitigation is used to address the same transportation improvements described in the City's transportation impact fee ordinance, which excludes, among other improvements, state and federal highways.

(2)

Impact fee credits for the proportionate fair-share contribution, if any, will be determined when the transportation impact fee obligation is calculated for the proposed development, consistent with Section 59.1007.(5) calculations and City Code. Impact fees owed by the applicant will then be reduced per the Proportionate Fair-Share Agreement as they become due per the City Impact Fee Ordinance, and City Code. If the applicant's proportionate fair-share credit, as determined herein, is less than the development's anticipated transportation impact fee for the specific stage or phase of development under review, then the applicant or its successor must pay the remaining impact fee amount to the City pursuant to the requirements of the City impact fee ordinance, and City Code.

(3)

The proportionate fair-share obligation is intended to mitigate the transportation impacts of a proposed development at a specific location. As a result, any transportation impact fee credit based upon proportionate fair-share contributions for a proposed development cannot be transferred to any other location unless provided for within the City's transportation impact fee ordinance.

(4)

The impact fee credit for the payment of a proportionate fair-share obligation, will be calculated using the following:

The applicant shall receive a credit on a dollar-for-dollar basis for transportation impact fees, paid or payable in the future for the development. The credit shall be reduced up to 20 percent by the percentage share that the development's traffic represents of the added capacity of the selected improvement, or by the amount specified by local ordinance, whichever yields the greater credit.

(Ord. of 10-29-2007, § 2, Doc. #0710291002; Ord. No. 2013-24, § 1, 5-6-2013, Doc. #1305061204)