30.66A.065 Credit to developer for land dedication or conveyance in excess of required impact fees.
The director of the department of conservation and natural resources, in consultation with the planning and development services department, may reimburse or credit the developer if the fair market value of the land dedication or conveyance exceeds the developer’s impact fee obligation for a development. The developer may be reimbursed or credited with any one or more of the following:
(1) Direct cash payments from the trust fund(s);
(2) An adjustment in allowable dwelling units equal to the value of the excess dedication for subdivisions, short subdivisions or planned residential developments in residential zones as follows: R 7,200, R 8,400, R 9,600, R 12,500 and R 20,000, providing all minimum requirements of the zone are met; or
(3) Issuing a parks and recreation impact fee credit document equal to the dollar value of the excess dedication or conveyance of the land. The impact fee credit document shall be valid for six years from the date of issuance and may be applied toward a developer’s impact fee obligation within the PSA where the development generating the credit is located. (Added by Amended Ord. 04-016, Feb. 23, 2005, Eff date Mar. 11, 2005; Amended by Amended Ord. 16-099, Nov. 14, 2016, Eff date Jan. 1, 2017; Amended by Amended Ord. 20-081, Jan. 20, 2021, Eff date Jan. 30, 2021).