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 construct or finance a Transportation Facility, or any Developer that proposes to design and construct a Transportation Facility in conjunction with the execution of a Development Project shall follow the procedure for doing same as set forth in this chapter and CVMC 2.56.160(H).

B. 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 rate.

C. Fee Credits earned by constructing or financing Transportation Facilities financed by the Fee may only be tendered for payment of the Fee for a Development within the area to which the Fee is applicable. Fee Credits are not fungible as payment toward a different development impact fee in the City than the Fee in which Fee Credit was earned.

D. The requirements of CVMC 3.54.145, 3.54.150, and 3.54.155 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. 3440 § 1, 2018).