40.630.010 Impact Fee Revision

A.    Impact fee rates, other than park impact fees, shall be adjusted periodically to reflect changes in costs of land acquisition and construction, facility plan projects and anticipated growth. Such adjustments shall only become effective upon adoption by the board of a modification to the capital facilities plan; provided, that the capital facilities plan may contain provision for automatic revision of an impact fee rate no more often than annually to reflect the change in a generally recognized and applicable inflation/deflation index.

B.    Park impact fee rates may be revised using the following process:

1.    The adopted Park Impact Fee Program Technical Document may be revised periodically by the Board when financial analysis establishes that there is a need for a major program update. Such adjustments shall only become effective upon adoption by the Board.

2.    Between major program updates, the calculated park impact fee will be adjusted annually to account for inflation/deflation using the indexing methodology described in the adopted Park Impact Fee Technical Document. Such adjustments shall only become effective upon adoption by the Board.

(Amended: Ord. 2009-11-06)