§ 59.507. Expiration of a Concurrency Encumbrance Letter.

If the Concurrency Encumbrance Letter expires prior to issuance of a Capacity Reservation Certificate or a building permit using the encumbered capacity, the capacity shall revert to the available capacity bank unless there is then pending an application for a Capacity Reservation Certificate or a building permit. If there is a complete application for a Capacity Reservation Certificate pending at the time the Concurrency Encumbrance Letter expires, the capacity will remain in the encumbered capacity bank until such time as a final decision is made with respect to such pending application. If the capacity reverts to the available capacity bank the applicant may apply for a new Concurrency Encumbrance Letter. However, a Concurrency Encumbrance Letter shall be issued no sooner than three months following the date of the last Concurrency Encumbrance Letter expiration for the same property unless:

a.

there is no waiting list in the service area in which the property is located; and

b.

the applicant has submitted an application for a building permit or is a one or two family residential development and the final plat is ready for recording.

(Ord. of 9-16-1991, Doc. #25096; Ord. of 11-16-1992, Doc. #26149; Ord. No. 2013-24, § 1, 5-6-2013, Doc. #1305061204)