§ 27-142. Agreement for capital improvements.

(a)

The city council may approve the owner of a new development to construct or finance some of the public improvements identified in the CIP. In the case of such approval, the property owner must enter into an agreement with the city prior to fee collection. The agreement shall be on a form approved by the city and shall establish the estimated cost of improvement, the schedule for initiation and completion of the improvement, a requirement that the improvement shall be completed to city standards and any other terms and conditions the city deems necessary. The engineer shall review the improvement plan, verify costs and time schedules, determine if the improvement is contained in the CIP and determine the amount of the applicable credit for such improvement to be applied to the otherwise applicable capital recovery fee before submitting the proposed agreement to the council for approval.

(b)

The city and such owner either may agree that the costs incurred or funds advanced will be credited against the capital recovery fees otherwise due from the new development or they may agree that the city shall reimburse the owner for such costs from capital recovery fees paid from other new developments which will use such capital improvements or facility expansions.

(Ord. No. 90-10, § 1(1.22), 8-28-1990; Ord. No. 2018-13, § 2(Exh. 3), 4-17-2018)