Council Bill 324 Draft_2008 - Laserfiche WebLink

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(5) The solid waste impact fees shall be calculated according to the following formula: SOLID WASTE IMPAC'F FEE = EDUs x NEI" C'OSrl' /EDtJ Where: EDUs UNITS x EDUs/UNIT UNITS = Number of dwelling units of each housing type in the development EDUs/UNIT = Number of Equivalent Dwelling Units represented by one dwelling unit of a given housing type NET COSTIEDU = COSTIEDU - CREDITIEDU COST/EDU -- Total replacement cost of existing solid waste facilities that serve residential development utilizing transfer stations divided by all existing single - family detached units = DEBT/EDU + PAST/EDU + GRANVEDU -CREDIT/EDU DEBT/EDU = Outstanding debt on existing solid waste facilities attributable to residential development utilizing transfer stations divided by all existing single - family detached units PASrI'IEDU = The net present value of property taxes paid over the last live years by vacant land for solid waste capacity improvements attributable to residential development utilizing transfer stations, including general fund expenditures as well as debt service payments, per EDU GRANVEDU = The net present value of future Federal and State grant funding anticipated to be forthcoming for solid waste capital improvements attributable to residential development per EDU over the next 20 years , Section 36-15. Reserved, Division 3. Refunds, credits, off -sets, and recalculations. Section 36-16. Refunds. (a) If a building permit, for which an impact fee was paid as a condition for its issuance, expires, is revolved, or is voluntarily surrendered, and no construction or improvement of land has commenced, then the person or persons who paid the fee shall be entitled to a refund of a portion of the impact fee paid. The refund amount shall consist of the amount of impact fee paid minus up to three percent of the impact fee paid. The withheld amount will be retained as an administrative fee to offset the cost of processing the refund. No interest will be paid on refunds issued pursuant to this subsection. (b) Any monies in the impact fee fund that have not been spent or encumbered within six years after the date on which such fee was paid shall be returned to the current owners with interest since the date of payment.