Southeast Overtown/Park West: Reservation of development credit

(a)

Application for reservation of development credits for net new development within the Southeast Overtown/Park West DRI area may be made after zoning approval of a project and the furnishing of a notice of intent to apply for development credit to the executive director of the Southeast Overtown/Park West Community Redevelopment Agency, with the payment of Administration and Master Plan Recovery fees. Applicants shall only apply for reservation of development credits for those portions or phases of their net new development anticipated to be under construction within 24 months from the date of zoning approval. Subsequent phases may receive a reservation only after the building permit has been issued for the prior phase. All applicable fees, including administration, master plan recover, air quality, and transportation, shall be paid prior to obtaining a building permit. Development credits shall be issued upon payment of all applicable fees. Reservation and issuance of development credits are further subject to adherence to the following time limitations:

(1)

Within 12 months from the reservation of development credits, the applicant must demonstrate to the planning director that construction drawings for those portions of net new development for which a reservation of development credits has been issued are in progress and are likely to be completed within the succeeding six months.

(2)

Within 24 months of a reservation of development credits the applicant must pay all applicable fees, obtaining development credits, and obtain a building permit for the development for which the credit was issued.

(3)

Within 24 months of the issuance of a building permit, the applicant must demonstrate to the planning director that the building permit has been obtained and that work has commenced on the net new development for which development credits have been issued.

(4)

Application for modifications to approved plans within the aforementioned timeframes shall toll required timeframes. The date of zoning approval of a modification shall then be considered as the new date of reservation of development credits or issuance of development credits as the case may be.

(b)

It shall be the responsibility of the holder of a reservation of development credits or development credits to submit the required information in writing to the planning director and obtain the necessary permits on or before the expiration date of each of the above-described intervals. At or after any of the above-described intervals the planning director may rescind the reservation of development credits or obtained development credits for failure to comply with the time limitations. Notice of intent to rescind a reservation for development credits shall be made, in writing, by the planning director, stating reasons for the rescission. The credit holder may present additional facts, information or data in support of his/her position prior to the rendering of a final decision by the planning director, which shall be made in writing within 30 days of the date of transmission of the planning zoning director's written notification of reservation of development credit or development credit rescission. Development credits rescinded pursuant to this paragraph shall be held in reserve by the planning and zoning department pending the outcome of an appeal pursuant to section 14-162.

(Ord. No. 13406, § 3, 9-26-13; Ord. No. 13676, § 2, 4-27-17)