§ 25-6-669 - OFFSETS AGAINST STREET IMPACT FEES.
(A) The City may offset the improvements or funding for construction of any system facility included on the roadway capacity plan that is required or agreed to by the City under this section and administrative guidelines.
(1) The roadway facility shall be associated with the plat or other detailed plan of development for the property that is to be served by the roadway facility.
(2) No offset shall be given for the dedication, funding, or construction of site-related facilities.
(3) No offset shall be given for a roadway facility which is not identified within the roadway capacity plan unless the system facility qualifies for inclusion on the roadway capacity plan and is incorporated within an allocation agreement with the City under Subsection (D).
(4) The value of any offset for a system facility shall be reduced by the City's cost participation in the construction or funding of such facility.
(5) If the amount of the offsets for a new development exceeds the total amount of street impact fees due for the development, the remaining amount of the offsets may not be transferred or assigned to other new developments for which street impact fees are due, nor is the City responsible for reimbursing the property owner for such remaining amount, unless an allocation agreement under Subsection (D) expressly so provides.
(B) No offsets shall be granted for the onsite dedication of rights-of-way or easements required by this chapter. Onsite dedication of rights-of-way or easements for roadway system facilities may be considered in determining the development's share of roadway infrastructure improvement costs under Section 25-6-23 (Proportionality of Required Infrastructure).
(C) Construction of capital improvements must be completed and accepted by the City in order to qualify as an offset with the following limitations:
(1) Construction completed and accepted before December 21, 2020, will only qualify as an offset until December 21, 2030.
(2) Construction that begins after December 21, 2020, will qualify as an offset for ten years from the date the improvement is completed and accepted by the City unless the applicant is granted an extension.
(D) Before street impact fees can be reduced by offsets authorized under this section, the owner of the property shall enter into an agreement with the City determining the allocation of the offsets. Unless the allocation agreement specifies otherwise, an offset associated with a plat shall be applied when the first building permit is submitted and to each subsequent building permit application to reduce street impact fees due until the amount associated with the offset is exhausted.
(E) Master planned projects, including subdivisions containing multiple phases, whether approved before or after the effective date of the street impact fee regulations, may apply for offsets against street impact fees for the entire project based upon improvements or funds toward construction of system facilities. For projects where development has already occurred, the amount of any offset shall be reduced by the value attributable to any service units for which a building permit has been issued prior to one year from the effective date of this article. Offsets shall be spent within the same service area using a methodology approved by the City and incorporated within an agreement under Subsection (D).
(F) For new development that consists of multiple phases, the City may require that total offsets be proportionally allocated among phases within the new development.
Source: Ord. No. 20201210-062, Pt. 2, 12-21-20.
