There are hereby established six (6) capacity banks, to be utilized by the CMO in
the implementation of this Chapter: the available capacity bank, the permitted capacity
bank, the encumbered capacity bank, the reserved capacity bank, vested capacity bank,
and the committed capacity bank. The CMO may place a percentage of the capacity allocation
into the committed capacity bank and designate it for use for low and moderate income
housing. The percentage shall be as adopted from time to time by resolution of City
Council consistent with the Growth Management Plan. Only the CMO or designee shall
be authorized to transfer capacity between banks. The capacity banks allow capacity
to be transferred among the various categories. Capacity refers to the ability or
availability of a public facility or service to accommodate users, expressed in an
appropriate unit of measure, such as gallons per day, and consistent with adopted
level of service standards. Available capacity represents a specific amount of capacity
that may be encumbered by, reserved by or committed to future users of a public service
or facility. Capacity is withdrawn from the available capacity bank and deposited
into an encumbered capacity bank when a Concurrency Encumbrance Letter is issued,
and then into the reserved capacity bank when a Capacity Reservation Certificate is
issued, and is transferred to the permitted capacity bank when a building permit is
issued. If a CEL, CRC, or building permit expires, capacity shall be transferred back
to the available capacity bank. Once a certificate of occupancy is issued, the associated
capacity is transferred out of the banks and the land use becomes part of the existing
demand for public services, as reported each year in the Capacity Availability Report.
Each capacity bank of available, encumbered, permitted, reserved, vested and committed
capacity will experience deposits and withdrawals on a regular basis.
By January 1 of each year the City shall adopt new allocations of capacity, consistent
with the findings of the Annual Capacity Availability Report. Capacity banks shall
be adjusted accordingly.
