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HomeMy WebLinkAbout013 - 02/15/2000 - AMENDING CITY CODE (CHAPTER 7.5) TO ADD NEW ARTICLE V PERTAINING TO THE IMPOSITION OF CERTAIN REGION ORDINANCE NO. 13, 2000 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING CHAPTER 7.5 OF THE CITY CODE BY THE ADDITION OF A NEW ARTICLE V PERTAINING TO THE IMPOSITION OF CERTAIN REGIONAL CAPITAL IMPROVEMENT EXPANSION FEES WHEREAS,the City is authorized under Article XX,Section 6 of the Colorado Constitution to adopt appropriate ordinances and regulations for the purpose of promoting and preserving the public health,safety and welfare of the citizens of the City,and has the full right of self government in local municipal matters including,without limitation,the power to regulate,as a matter of purely local concern, the development of real property within the City; and WHEREAS,the City Council has determined that future growth and new development in the City should contribute a proportionate share of the cost of providing the capital improvements necessary to mitigate the impacts of such growth and new development; and WHEREAS,by adoption of Ordinance No.51, 1996,the Council has adopted certain capital improvement expansion fees to help defray the capital cost of expanding public facilities within the City in order to accommodate new development in the City; and WHEREAS,the Council recognizes that there is a regional road system in Larimer County which consists of inter-urban travel corridors and major corridors that connect urban areas to the Interstate Highway System; and WHEREAS,Latimer County has conducted a multi-jurisdictional transportation study (the "Larimer County Road and Park Impact Fee Study") and a regional road capital improvement plan (the "Regional Road CIP") for its regional road system; and WHEREAS,the Larimer County Road and Park Impact Fee Study projects that there will be a significant amount of new growth and development in the unincorporated areas of the County as well as the incorporated areas of all municipalities in the County(the"Region")over the next twenty (20) years; and WHEREAS, the Larimer County Road and Park Impact Fee Study indicates that this new growth and development will increase the demand for capacity on the regional road system within the Region; and WHEREAS,Larimer County has adopted a level of service(D)as the minimum acceptable level of service on the regional road system,and the City Council concurs with these determinations; and WHEREAS, the Larimer County Road and Park Impact Fee Study demonstrates that the revenue generated by existing fees imposed upon new growth and development in the Region will not be adequate to acquire the necessary real property and fund the needed road capital improvements to accommodate the anticipated growth and development in the Region if the adopted levels of service are to be maintained; and WHEREAS, in order to address this problem, Larimer County and the City have, by intergovernmental agreement, established a policy that new land development activity shall bear a proportionate share of the cost of providing the new road capital improvements needed to mitigate the impacts of new growth and development on the regional road system and maintain the desired levels of service on such system; and WHEREAS,the Larimer County Commissioners and the Council have determined that the imposition of a regional road impact fee is one of the preferred methods of regulating land development in the Region in order to ensure that new development bears a proportionate share of the costs of the new road capital improvements necessary to accommodate new development while at the same time maintaining the above-referenced level of service on the regional road system and promoting and protecting the public's health, safety and welfare; and WHEREAS,this regional fee would assist in the implementation of,and be consistent with, the master plans of Larimer County and the City; and WHEREAS, Larimer County and the City have the authority to cooperate in adopting regional fees for such purposes,pursuant to the Colorado Constitution,the Colorado statutes and the Charter of the City of Fort Collins; and WHEREAS,it is the objective of Larimer County and the City to make the most efficient use of their powers by jointly implementing planning, zoning and subdivision requirements by the adoption of regional road fee program for the provision of new road capital improvements for the regional road system in order to maintain the adopted level of service for such facilities. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the City Council hereby makes the following findings of fact: 1. The Larimer County Transportation Capital Expansion Fee and Parkin-Lieu Fee Study projects that there will be a significant amount of new growth and development in Larimer County over the next twenty (20)years. 2. The Larimer County Transportation Capital Expansion Fee and Parkin-Lieu Fee Study has determined that this new growth and development will require a substantial expansion in capital facilities for roads if an adequate level of service (LOS)is to be maintained on the regional road system. 2 3. The Larimer County Transportation Capital Expansion Fee and Parkin-Lieu Fee Study has identified the improvements required to maintain an adequate level of service on the regional road system. The list of these improvements along with descriptions and cost estimates is referred to as the Regional Road Capital Improvement Plan (hereinafter "the Regional Road CIP"), a copy of which, as amended from time to time, shall be maintained in the Office of the City Clerk. 4. As demonstrated by the Larimer County Transportation Capital Expansion Fee and Park In-Lieu Fee Study,the level of service necessary for the regional road system,in order to protect the health,safety and welfare of the traveling public in the Region, is a level of service (D). 5. The Larimer County Transportation Capital Expansion Fee and Parkin-Lieu Fee Study demonstrates that the existing revenue generated by this new growth and development will not be adequate to fund the needed road capital improvements necessary to accommodate this new growth and development if the desired LOS on the regional road system is to be maintained. 6. In order to address this problem,the Larimer County Board of Commissioners has determined, and the City concurs,that the imposition of regional transportation capital expansion fees is one of the preferred methods of regulating land development in order to ensure that new development bears a proportionate share of the costs of the new road capital improvements necessary to accommodate new development while at the same time maintaining adopted levels of service on the regional road system and promoting and protecting the public health, safety and welfare. 7. A regional transportation capital expansion fee would assist in the implementation and be consistent with the Larimer County Master Plan and City Plan. Section 2. That the Larimer County Regional Road CIP,dated September 1998,a copy of which is on file in the Office of the City Clerk, is hereby approved by the Council. Section 3. That Chapter 7.5 of the City Code is hereby amended by the addition of a new Article VI to read as follows: 3 ARTICLE VI. REGIONAL TRANSPORTATION CAPITAL IMPROVEMENT EXPANSION FEE DIVISION 1. GENERALLY Sec. 7.5-80 Intent. The provisions of this Article are intended to implement and be consistent with the master plans of the City including,without limitation,the Master Street Plan and the Larimer County Transportation Plan and the Larimer County Master Plan. This purpose is accomplished by the establishment of a system for the imposition of a regional transportation capital improvement expansion fee program to assure that new development contributes a proportionate share of the costs of providing, and benefits from the provision of,new capital improvements to the regional road system. The provisions of this Article are intended to be consistent with the principles for allocating the fair share of the costs of new public facilities to new users. The methods of calculating and imposing such requirements, as provided herein, are intended to ensure that new growth and development in the City bear a proportionate share of the costs of providing such improvements. It is anticipated that said requirements will only partially capture the governmental expenditures associated with improving the regional road system. The amount of revenue generated by said fee shall not exceed the cost of providing the real property acquisitions and the capital improvements for which they are imposed, and the same shall be expended solely to provide the specified new road capital improvements. The requirements provided for in this Article are based upon the technical data and conclusions contained in the Larimer County Transportation Capital Expansion Fee and Park In-Lieu Fee Study, a copy of which is on file in the Office of the City Clerk. Funds collected from the fee imposed under the provisions of this Article shall not be used to remedy existing deficiencies,but only to provide the new facilities are necessitated by new development. Sec. 7.5-81 Definitions. When used in this Article, the following words and terms shall have the following meanings: Building permit shall mean any development permit issued by the City Building and Zoning Department before any building or construction activity is initiated on a parcel of land. Building permit does not include any permits for demolition,grading or the construction of a foundation. Capacity shall mean the maximum number of vehicles which have a reasonable expectation of passing over a given section of a regional road in one(1)direction,or 4 in both directions, during a given time period, under prevailing traffic conditions, expressed in terms of vehicles per day. Capacity is measured in this ordinance and the Larimer County Transportation Capital Expansion Fee and Park In-Lieu Fee Study during the week day (Monday through Friday). County shall mean Larimer County, Colorado. Existing Traffic-Generating Development shall mean the most intense use of land within the twelve (12) months prior to the time of commencement of traffic- generating development. Expansion of the capacity of a regional road shall mean any widening, intersection improvement, signalization or other capital improvement designed to increase the existing regional road's capacity to carry vehicles. Fee Administrator shall mean a person appointed by the City Manager to administer the fee program as provided in this Article. Feepayer shall mean a person commencing traffic-generating development who is obligated to pay a regional transportation capital improvement expansion fee in accordance with the terms of this ordinance. Level of Service (LOS) shall mean a qualitative measure describing operational conditions,from"A"(best)to"F"(worst),within a traffic stream or at intersections, which is quantified for road segments by determination of a volume to capacity ratio (V/C), which is a measurement of the amount of capacity of a road which is being utilized by traffic. The maximum V/C for LOS "D" is 0.89. Non-site Related Improvements shall mean regional road capital improvements and right-of-way dedications for regional roads that are in the Regional Road CIP that are not site-related improvements. Participating Local Government shall mean any municipality within Larimer County that has entered into an intergovernmental agreement with Larimer County to implement this regional transportation capital improvement expansion fee. Person shall mean an individual, corporation, governmental agency or body, business trust,estate,trust,partnership,association,two (2)or more persons having a joint or common interest, or any other entity. Regional road system shall mean roadways identified by the Participating Local Governments as major inter-urban travel corridors or as major corridors that connect urban areas to the interstate highway system, the Regional Road CIP, as shown on 5 Figure 4 in the Transportation Capital Expansion Fee and Park In-Lieu Fee Study, a copy of which shall be maintained in the Office of the City Clerk. Regional Road Capital Improvement shall mean the transportation planning of, preliminary engineering,engineering design studies,land surveys,alignment studies, right-of-way acquisition, engineering,permitting, and construction of all necessary features for any regional road on the Regional Road CIP,undertaken to accommodate additional traffic resulting from new traffic-generating development, including, but not limited to:(a)construction of new through lanes,(b)construction of new bridges, (c)construction of new drainage facilities in conjunction with new road construction, (d) purchase and installation of traffic signals, including new and upgraded signalization, (e) construction of curbs, gutters, sidewalks, medians and shoulders, (f) relocating utilities to accommodate new road construction, (g) the construction and reconstruction of intersections, (h) the widening of existing regional roads, (i) bus turnouts, 0) acceleration and deceleration lanes, (k) interchanges, and(1)traffic control devices. Regional Road CIP shall mean the twenty-year plan of expenditure developed by Larimer County for expanding those County-maintained arterial and collector roads in the unincorporated areas of the County that primarily serve traffic moving between cities. Site-Related Improvements shall mean those road capital improvements and right-of-way dedications that provide direct access to the development. Direct access improvements are typically located within or adjacent to a development site and include,but are not limited to the following: (a)driveways and streets leading to and from the development; (b) right and left turn lanes leading to those driveways and streets; (c) traffic control measures for those driveways; and (d) internal streets. Credit is not provided for site-related improvements under the terms of this Article. Traffic-Generating Development shall mean land development designed or intended to permit a use of the land that will contain or convert to more dwelling units or floor space than the most intensive use of the land within the twelve (12) months prior to the commencement of traffic-generating development in a manner that increases the generation of vehicular traffic. Traffic-Generating Development, Commencement of shall mean the point of approval of a site specific development (as that term is defined in Article 5 of the Land Use Code),or the issuance of a building permit,whichever occurs first after the effective date of this Division. Trip shall mean a one-way movement of vehicular travel from an origin(one trip end)to a destination(the other trip end). 6 Trip Generation shall mean the attraction or production of trips caused by a certain type of land development. Vehicle-Miles of Travel (VMT) shall mean the combination of the number of vehicles traveling during a given time period and the distance(miles)that they travel. Sec. 7.5-82. Imposition of fee. (a) Time offee payment. (1) Any person or governmental body (unless exempted by intergovernmental agreement or ordinance of the City) who causes the commencement of traffic-generating development shall be obligated to pay a regional transportation capital improvement expansion fee, pursuant to the provisions of this Division. The fee shall be determined and paid to the City's Financial Officer at the time of issuance of a building permit for the development. If any credits are due pursuant to Section 7.5-84, they shall also be determined at that time. The fee shall be computed separately for the amount of development covered by the permit,if the building permit is for less than the entire development. If the fee is imposed for a traffic-generating development that increases traffic impact because of a change in use, or the expansion of a use, the fee shall be determined by computing the difference in the fee schedule between the new traffic-generating development and the existing traffic- generating development. The obligation to pay the fee shall run with the land. (2) Any person who,prior to the effective date of this Article, agreed as a condition of development approval to pay a regional transportation capital improvement expansion fee, shall be responsible for the payment of the fee under the terms of any such agreement. (b) Exemptions. The following shall be exempt from the terms of this Division. An exemption must be claimed by the feepayer at the time of application for a building permit: (1) Alterations or expansions of existing buildings where no additional dwelling units are created, the use is not changed, and where no 7 additional vehicular trips will be produced in excess of those produced by the existing use. (2) The construction of accessory buildings or structures which will not produce additional vehicular trips in excess of those produced by the principal building or use of the land. (3) The replacement of a destroyed or partially destroyed building or structure with a new building or structure of the same size and use, provided that no additional trips will be produced in excess of those produced by the original use of land. (c) Establishment of a fee schedule. (1) Any person who causes the Commencement of traffic-generating development, except those persons exempted or preparing an independent fee calculation study pursuant to Section 7.5-83 shall pay a regional transportation capital improvement expansion fee in accordance with a fee schedule approved by the City Council by ordinance, a copy of which fee schedule shall be maintained in the Office of the City Clerk. (2) If a fee is to be paid for mixed uses,then the fee shall be determined according to the above-referenced schedule by apportioning the space committed to the uses specified on the scheduled. (3) If the type of traffic-generating development for which a building permit is required is not specified on the fee schedule, the Fee Administrator shall determine the fee on the basis of the fee applicable to the most nearly comparable type of land use on the fee schedule. The Fee Administrator shall be guided in the selection of a comparable type of land use by: a. Using trip generation rates contained in the most current edition of the report titled Trip Generation prepared by the Institute of Transportation Engineers(ITE),articles or reports appearing in the ITE Journal,or studies or reports done by the U.S. Department of Transportation or Colorado Department of Transportation, and applying the formula set forth in Section 7.5-83(b); or b. Computing the fee by use of an independent fee calculation study as approved in Section 7.5-83. 8 Sec. 7.5-83. Independent fee calculation study. (a) General. (1) The transportation capital improvement expansion fee may be computed by the use of an independent fee calculation study at the election of the feepayer. It also shall be used upon the request of the Fee Administrator for: (i) any proposed land development activity that is not listed on the fee schedule and is not comparable to any land use on the fee schedule, or (ii) any proposed land development activity for which the Fee Administrator concludes the nature,timing, or location of the proposed development make it likely to generate impacts costing substantially more to mitigate than the amount that would be generated by the use of the fee schedule. (2) The preparation of the independent fee calculation study shall be the responsibility of the electing party. (3) Any person who requests to perform an independent fee calculation study shall pay an application fee for administrative costs associated with the review and decision on such independent fee calculation study. (b) Formula. (1) The independent fee calculation study for the regional transportation capital improvement expansion fee shall be calculated by the use of the following formula: FEE = VMT x NETCOST/VMT VMT = ADT x%NEW x ATL /2 ADT = Number of average daily trips generated %NEW = Percent new trips ATL = Average trip length in miles on the Regional road system 2 = For the portion of the trip allocated to the new development (one trip) NETCOST/VMT = Net cost per vehicle-mile of travel as calculated in the Transportation Capital Expansion Fee and Park In- Lieu Fee Study 9 (2) The fee calculation shall be based on data, information, or assumptions contained in this Division or in independent sources. Independent sources may be used only if: a. The independent source is an accepted standard source of transportation engineering or planning data or information; b. The independent source is a local study on trip characteristics carried out by a qualified traffic planner or engineer pursuant to an accepted methodology of transportation planning or engineering; or C. The percent new trips factor used in the independent fee calculation study is based on actual surveys prepared in Larimer County. (c) Procedure. (1) An independent fee calculation study shall be undertaken through the submission of an application. A feepayer may submit such an application. The Fee Administrator shall submit such an application for: (i) any proposed land development activity that is not one of those types listed on the fee schedule and that is not comparable to any land use on the fee schedule, or (ii) any proposed land development activity for which it is concluded the nature, timing or location of the proposed development make it likely to generate impacts costing substantially more to mitigate than the amount that would be generated by the use of the fee schedule. (2) Within ten (10) working days of receipt of an application for independent fee calculation study, the Fee Administrator shall determine if the application is complete. If the Fee Administrator determines that the application is not complete, a written statement specifying the deficiencies shall be sent by mail to the person submitting the application. The application shall be deemed complete if no deficiencies are specified. The Fee Administrator shall take no further action on the application until it is deemed complete. (3) When the Fee Administrator determines the application is complete, the application shall be reviewed and the Fee Administrator shall render a written decision in twenty(20)working days on whether the fee should be modified, and if so, what the amount should be, based on the standards in Section 7.5-83. 10 (d) Standards. If, on the basis of generally-recognized principles of impact analysis, it is determined that the data, information and assumptions used by the applicant to calculate the independent fee calculation study satisfies the requirements of this Section,the fee determined in the independent fee calculation study shall be deemed the fee due and owing for the proposed traffic-generating development. If the independent fee calculation study fails to satisfy the requirements of this Section, the fee applied shall be that fee established for the traffic-generating development in Section 7.5-84. (e) Appeal of independent fee calculation study decision. (1) A feepayer affected by the administrative decision of the Fee Administrator on an independent fee calculation study may appeal such decision to the City Manager by filing with the Fee Administrator,within ten(10)working days of the date of the written decision, a written notice stating and specifying briefly the grounds of the appeal. (2) The City Manager, after a hearing, shall have the power to affirm or reverse the decision of the Fee Administrator. In making his or her decision, the City Manager shall apply the standards in Section 7.5- 83. If the City Manager reverses the decision of the Fee Administrator, the City Manager shall direct the Administrator to recalculate the fee in accordance with his or her findings. See. 7.5-84. Credits. (a) General standards. (1) Any person initiating traffic-generating development may apply for credit against a regional transportation capital improvement expansion fee otherwise due, up to but not exceeding the full obligation for the fee proposed to be paid pursuant to the provisions of this Division, for any contribution, payment, construction, or dedication of land accepted or received by Larimer County for any non-site related capital road improvements on the regional road system identified in the Regional Road CIP. (2) Credits for contributions, payments, construction or dedication of land for non-site related capital road improvements on the regional road system identified in the Regional Road CIP shall run with the land and shall be transferable within the same development. Credits shall not be transferable to other developments for credit against the . 11 regional transportation capital improvement expansion fee(s)due for such development, or for credit against fees required to be paid for other public facilities. The credit shall not exceed the amount of the transportation capital improvement expansion fee due and payable for the proposed traffic-generating development. (3) Larimer County may enter into a capital contribution front-ending agreement with any person initiating traffic-generating development who proposes to construct roads or dedicate right-of-way for non-site related capital road improvements on the regional road system identified in the Regional Road CIP. To the extent that the costs of road construction or the fair market value of the right-of-way dedication of these regional road capital improvements exceeds the obligation to pay transportation capital improvement expansion fees for which a credit is provided pursuant to this Section, the capital contribution front-ending agreement may provide proportionate and fair share reimbursement. (b) Credit against fees. Credit shall be in an amount equal to the value of the contribution or payment at the time it is made,the costs of the road construction at the time of its completion,or the fair market value of the land dedicated for right-of- way at the time of dedication. (c) Procedure for credit review. (1) The determination of any credit shall be undertaken through the submission of an application for a credit agreement, which shall be submitted to the Fee Administrator. (2) The application for a credit agreement shall include the following information: a. If the application involves a credit for any contribution or payment, the following documentation must be provided: 1. A certified copy of the development approval in .which the contribution was agreed; 2. If payment has been made,proof of payment; or 3. If payment has not been made, the proposed method of payment. 12 b. If the application involves construction: 1. The proposed plan of the specific construction prepared and certified by a duly qualified and licensed Colorado professional engineer; 2. The projected costs for the suggested improvement, which shall be based on local information for similar improvements,along with the construction timetable for the completion thereof. Such estimated cost shall include the cost of construction or reconstruction,the cost of all labor and materials, the cost of all lands, property, rights, easements and franchises acquired, costs of plans and specifications,surveys of estimates of costs and of revenues, costs of professional services, and all other expenses necessary or incident to determining the feasibility or practicability of such construction or reconstruction. C. If the application involves credit for the dedication of land: 1. A drawing and legal description of the land; 2. The appraised fair market value of the land at the date a building permit is proposed to be issued for the traffic generating land development activity,prepared by a professional real estate appraiser who is a member of the Member Appraisal Institute(MAI) or who is a member of Senior Residential Appraisers (SRA), and if applicable, a certified copy of the development permit in which the land was agreed to be dedicated. (3) Within ten(10)working days of receipt of the application for a credit agreement, the Fee Administrator shall determine if the application is complete. If it is determined that the application is not complete, the Fee Administrator shall send a written statement to the applicant outlining the deficiencies. The Fee Administrator shall take no further action on the application until all deficiencies have been corrected or otherwise settled. (4) Once the Fee Administrator determines that the application is complete,it shall be reviewed within twenty(20)working days. The 13 application shall be approved if it complies with the standards in Section 7.5-84. (5) If the application is approved by the Fee Administrator, a credit agreement shall be prepared and signed by the applicant and the County. It shall specifically outline the contribution, payment, construction or land dedication, the time by which it shall be paid, completed, or dedicated, and any extensions thereof, and the dollar credit the applicant shall receive, for the contribution, payment, construction or dedication. (d) Appeal of credit decision. A feepayer affected by the decision of the Fee Administrator regarding credits may appeal such decision to the City Manager by filing with the Fee Administrator, within ten (10) working days of the date of the written decision, a written notice stating and specifying briefly the grounds of the appeal. The City Manager, after hearing, shall affirm or reverse the decision of the Fee Administrator based on the standards in Section 7.5-84. If the City Manager reverses the decision,the City Manager shall direct the Fee Administrator to readjust the credit in accordance with its findings. See. 7.5-85. Benefit districts. (a) Establishment. For the purpose of further ensuring that feepayers receive sufficient benefit for fees paid, all of the area within Larimer County is hereby designated as the Regional Transportation Capital Improvement Expansion Fee Benefit District(the"Benefit District");provided,however, that the expenditure of fee revenues shall be made only for those regional road improvements approved by the City Council by ordinance or resolution, as provided in subsection(b) below. (b) Expenditure. Transportation capital improvement expansion fee funds shall be spent within the Benefit District within which the traffic-generating development paying the fee is located. The expenditure of transportation capital improvement expansion fee funds collected within the City shall be limited to those regional road capital improvement projects included in the Regional Road CIP and approved by the City Council by ordinance or resolution, which projects shall be determined by the City Council to be of substantial benefit to the residents of the city. If,within any period of three (3) consecutive years from the date that the first Transportation Capital Expansion Fee revenues are forwarded to the County's Fee Administrator by the participating local governments, all of said participating local governments, including the City, have been unable to agree upon a plan for expenditure of such funds,all unexpended monies theretofore transmitted to the County's Regional Road Impact Fee Administrator shall be returned to the participating local governments, together with a proportionate share of the accrued interest on said funds. The City 14 shall then refund any such funds received from the County to the feepayers,or their successors in interest (if the development subject to the fee has been sold by the feepayer), pursuant to the following procedures. (1) A refund application shall be submitted within one(1)year following the end of the seventh(7th)year from the date on which the building permit was issued on the proposed development. The refund application shall include the following information: a. A copy of the dated receipt issued for payment of the fee; b. A copy of the building permit; and C. Evidence that the applicant is the successor in interest to the feepayer, if relevant. (2) Within ten(10)working days of receipt of the refund application, the Fee Administrator shall determine if it is complete. If the Fee Administrator determines the application is not complete, a written statement specifying the deficiencies shall be forwarded by mail to the person submitting the application. Unless the deficiencies are corrected, the Fee Administrator shall take no further action on the refund application. (3) When the Fee Administrator determines the refund application is complete, it shall be reviewed within twenty (20)working days, and shall be approved if it is determined the feepayer has paid a fee which has not been spent within the period of time permitted under this section. The refund shall include the fee paid plus interest earned on the fee. (c) Appeal of refund decision. A feepayer affected by the Fee Administrator's decision regarding refunds may appeal such decision to the City Manager by filing with the Fee Administrator within ten(10) working days of the date of the written decision, a written notice stating and specifying briefly the grounds of the appeal. The City Manager, after hearing, shall affirm or reverse the decision of the Fee Administrator based on the standards in this Section. If the City Manager reverses the decision of the Fee Administrator, the City Manager shall direct the Administrator to readjust the refund in accordance with its findings. (d) Establishment of trust fund. There is hereby established the Regional Transportation Capital Expansion Fee Trust Fund for the purpose of assuring that feepayers receive sufficient benefit for regional transportation expansion fees paid. 15 All regional transportation capital improvement expansion fees collected by the City's Financial Officer pursuant to this Division shall be paid over to the County by the City, less a two (2) percent administration fee, on a quarterly basis; provided, however,that all such regional road impact fee revenues shall be held in an interest bearing account by the City for one (1)year from the date of collection of the same before being forwarded, together with accrued interest thereon, to the Regional Impact Fee Administrator. Upon receipt, said fee revenues shall be forthwith deposited by the County into a Regional Transportation Capital Improvement Expansion Fee Trust Fund(the"Trust Fund"). Any proceeds in the Trust Fund not immediately necessary for expenditure shall be invested in an interest-bearing account. All income derived from these investments shall be retained in the Trust Fund. Records of the Trust Fund accounts shall be available for public inspection in the County's Regional Road Impact Fee Administrator's office, during normal business hours. All monies within the Trust Fund shall be expended only as provided in this Article. Sec. 7.5-86 Refund of fees not spent. (a) General. Any fees collected by the City and delivered to the County shall be returned by the County to the feepayer or the feepayer's successor in interest(if the development subject to the fee has been sold by the feepayer) if the fees have not been spent within seven (7) years from the date the building permit for the development was issued, along with the interest earned on the fee. Fees shall be deemed to be spent on the basis of the first fee collected shall be the first fee spent. The refund shall be administered by the County's Regional Road Impact Fee Administrator. Sec. 7.5-87. Review every three years. At least once every three (3) years,the Fee Administrator shall recommend to the City Manager whether any changes should be made to the regional transportation component of Larimer County's Transportation Capital Expansion Fee and Park In- Lieu Fee Study, the Regional Road CIP and this Division. For making this determination, the Fee Administrator shall consult with the Regional Road Impact Fee Administrator of the other Participating Local Governments. The purpose of this review shall be to analyze the effects of inflation on actual costs,to assess potential changes in needs, to assess any changes in the characteristics of land uses, and to ensure that the regional transportation capital expansion fees will not exceed a pro rata share. Before any modifications of this Division shall be effective they shall be approved by the Board of County Commissioners and the governing bodies of all participating local governments. 16 Section 4. That the amount of the Regional Transportation Capital Improvement Expansion Fee shall be in accordance with the fee schedule shown on Exhibit"A",attached hereto and incorporated herein by this reference, which fee schedule is hereby approved by the Council pursuant to Section 7.5-82 (c)(1) of the Code. Section 5. That the City Council hereby finds that the Regional Road Capital Improvement Projects included in the Regional Road CIP, attached hereto and incorporated herein by this reference at Exhibit `B", are of substantial benefit to the residents of the City, and said projects are hereby approved by the Council. Section 6. That the Regional Transportation Capital Improvement Expansion Fee authorized herein shall apply to all building permit applications submitted to the City on or after January 1, 2000. Introduced, considered favorably on first reading, and ordered published in summary form this 1st day of February, A.D. 2000, and to be presented for final passage on the 15th day of February, A.D. 2000. Mayor Pro Tem TTEST: City Clerk , Passed and adopted on final reading this 15th day of February, A.D. 2000. Mayor ATTEST: City Clerk 17