A. Any Developer of a Development Project required by application of City ordinance, regulation, or policy, as a condition of approval of a Development Permit to design, construct or finance a Public Facility, or any Developer that proposes to design, construct, or finance a Public Facility in conjunction with the prosecution of a Development Project within the Territory, shall follow the procedure for doing same as set forth in this chapter and in CVMC 2.56.160(H).

B. If the cost of the Public Facility, incurred by the Developer and acceptable to the City, is less than or equal to that portion of the Developer’s Fee Obligation related to the Fee Component for that Public Facility, the City may only give a Fee Credit against that portion of the Developer’s Fee Obligation related to the Fee Component for that Public Facility.

C. If the cost of the facility, incurred by the Developer and acceptable to the City, is greater than that portion of the Developer’s Fee Obligation related to the Fee Component for that Public Facility, but less than or equal to the Developer’s total Fee Obligation, the City may give a credit, which credit shall first be applied against that portion of the Fee Obligation related to the Fee Component for that Public Facility, and the excess costs for the Public Facility shall then be applied as Fee Credits against such other Fee Components of the Developer’s total Fee Obligation as the City Manager, in his or her sole and unfettered discretion, shall determine; or

If the cost of the facility, incurred by the Developer and acceptable to the City, is greater than the Developer’s total Fee Obligation, the City may give a Fee Credit against the Developer’s total Fee Obligation as the City Manager, in his or her sole and unfettered discretion, shall determine; and/or the City may tender to the Developer a reimbursement agreement to reimburse said Developer only from the Fund as moneys are available, over time, with interest at the fair market value of money, at the option of the City.

D. Unless otherwise stated herein, all Fee Credits shall be calculated on a dollar basis to be applied toward payment of the assessed Fee at the time Fees are due, based on the then-current Fee.

E. The requirements of CVMC 3.50.145, 3.50.150, and 3.50.155 may, in the City’s discretion, be modified through an agreement between the Developer and the City, as approved by resolution of the City Council. (Ord. 3464 § 1, 2019; Ord. 3050 § 2, 2006).