Sec. 655.209. - Investment recouping schedule.

(a) The Director is hereby authorized to negotiate and establish within a development agreement authorized pursuant to this Chapter, or otherwise authorized by law, an investment recouping schedule whereby a party to a development agreement who funds and/or constructs any improvement required to return a compromised level of service to the required level of service standard as prescribed in the Comprehensive Plan and/or funds a significant regional transportation improvement, in order to accommodate the impacts of proposed development upon such public facility as required by the Concurrency Management System, may be eligible to participate in an equitable system of investment recoupment for additional capacity provided by the public facility improvement which is in excess of the capacity required by any proposed development or that is the subject of the development agreement. Further, the Director is authorized to establish and implement an investment recouping schedule for public facility projects funded, in whole or in part, by the City, which will allow the City to recover the cost of the improvement. (b) The Director shall prepare and promulgate rules to implement the investment recouping schedule, which shall include but not be limited to: (1) Qualification criteria for a public facility project to participate in an investment recouping schedule, including minimum project cost. (2) Methods and criteria for establishing capacity and identifying excess capacity of public projects shall be the same as those adopted by the Concurrency Management System testing agencies or as deemed necessary for transportation improvements of regional significance. (3) Methods and criteria for establishing total investment recouping amounts for each project. (4) Procedures for establishing and delineating recoupment areas. (5) Duration of investment recouping schedules. (6) Establishing and collecting investment recouping schedule administrative fees. (7) Investment recouping fee collection and distribution schedule. (8) Documentation required to prepare investment recouping schedules. (c) The Director may establish an investment recouping schedule which may become a part of the development agreement, which includes the following components: (1) Description of the public facilities included in the investment recouping schedule. (2) An exhibit delineating the applicable investment recouping schedule area. (3) Engineering computations and documentation of estimated construction costs which form the basis for determining cost recovery amounts for the investment recouping schedule. The estimated construction costs shall be amended in the investment recouping schedule upon completion of the project should they differ from the original estimated costs. The party funding and/or constructing the project shall be responsible for furnishing the updated construction cost data to the Director prior to any disbursement according to the investment recouping schedule. (d) The Director, through the CMMSO, shall collect public facility investment recouping schedule fees according to the criteria established herein for all development falling within the boundaries of the investment recouping schedule area. (e) The City shall be exempt from payment of investment recouping schedule fees to other parties when improvements funded solely by the City are constructed in investment recouping schedule areas. (f) Any public facility improvement project constructed prior to April 25, 1991, which has a positive impact on the levels of service and for which available capacities still exist, shall be eligible to participate in the investment recouping schedule program developed under this Section. (Ord. 93-120-111, § 1; Ord. 1999-493-E, § 1; Ord. 2011-536-E, § 1) Note— Former § 655.210. See editor's note, § 655.204 .