§ 59.1008. Proportionate Fair-Share Agreements.

(1)

Upon execution of a proportionate fair-share agreement (herein "the Agreement", pursuant to Section 59.1005(6) the applicant shall receive a capacity reservation certificate. Should the applicant fail to apply for a development permit, by submitting a complete application for said development, within twelve (12) months of the effective date of the Agreement, then the Agreement shall be considered null and void, all fees forfeited and the applicant shall be required to reapply, in order to proceed with the development.

(2)

Payment of the proportionate fair-share contribution is due in full prior to issuance of any development order, or any building permit, related to the development referenced in the Agreement or recording of any plat related to the development referenced in the Agreement and shall be non-refundable. If the payment is submitted more than twelve (12) months from the date of execution of the Agreement, then the proportionate fair-share cost shall be recalculated at the time of payment based on the City's best estimate of the construction cost of the required improvement at the time of payment, pursuant to Chapter 59 and adjusted accordingly.

(3)

All transportation improvements to be constructed by Developer and dedicated to the public, pursuant to this part, must be completed prior to issuance of a building or development permit for the development, or as otherwise established in a binding agreement that is accompanied by a security instrument, approved by the City, that is sufficient to ensure the completion of all required improvements.

(4)

Complete and effective dedication to the public or the City of necessary right-of-way for transportation improvements pursuant to a proportionate fair-share agreement must be completed prior to issuance of a building permit for the development related to the dedication of right-of-way.

(5)

Any requested change to a development may be subject to additional proportionate fair-share contributions to the extent the change would generate additional impacts that would require mitigation.

(6)

Applicants may submit a letter to withdraw from the proportionate fair-share agreement at any time prior to the execution of the agreement. The application fee and any associated advertising costs paid by the developer will be non refundable.

(7)

The City may enter into proportionate fair-share agreements for selected corridor improvements to facilitate collaboration among multiple applicants on improvements to a shared transportation facility, consistent with the terms of this Chapter 59.

(Ord. of 10-29-2007, § 2, Doc. #0710291002)