§ 14-188. Provision of water and wastewater impact fee credits.

(a)

If the fee payer wishes to receive credit against the amount of the impact fee due for conveyance or construction of land or construction received and accepted by the town commission, the fee payer shall enter into a fee agreement with the town. The fee agreement shall provide for the establishment of credits and payment of the fee in a specified manner and time.

(b)

The value of land conveyed or facilities constructed by a fee payer and accepted by the town for purposes of this article shall be determined by an appraisal based on the fair market value of the land or facilities as established by the town. Any land awarded credit under this article shall be conveyed in fee simple no later than the time at which the impact fee is required to be paid.

(c)

The portion of the impact fee represented by a credit for construction shall be deemed paid when the construction is completed and accepted by the town for maintenance or when adequate security for the completion of the construction has been provided. Construction shall be in accordance with the town design standards.

(Ord. No. 2015-06, § 5(14-149), 9-22-2015; Ord. No. 2017-12, § 3, 4-11-2017; Ord. No. 2017-18, § 4, 10-24-2017)