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A. The director shall determine the amount of the transportation impact fee required for any development pursuant to the transportation impact fee schedule and the provisions of this chapter.

B. Consistent with the provisions of BCC 22.16.070(C), no building permit, or other development approval if a building permit is not required, for any development requiring payment of a transportation impact fee pursuant to this chapter shall be issued until the transportation impact fee has been paid in full unless the applicant has deferred payment of impact fees pursuant to Chapter 22.19 BCC.

C. There is hereby created and established a special purpose, nonoperating transportation impact fee fund (“the impact fee fund”). All transportation impact fees and investment income received pursuant to this chapter shall be deposited into the impact fee fund. Procedures for administration of the fund shall be established by the director of the department of finance and asset management. The impact fee fund is not intended as a fund from which direct transportation capital expenditures will be made. This fund is intended to serve as an accounting device to receive revenues generated as described herein for automatic transfer to other fund(s) where expenditure purposes associated with these revenues have been budgeted. In consideration of this, appropriations in this fund may be administratively adjusted periodically; that is, without additional ordinance requirements, in order to equal revenue expectations. Appropriation changes by ordinance will continue to be provided for the funds in which expenditures will actually occur.

D. The transportation department shall pool impact fees whenever necessary to ensure that the fees are expended or encumbered for a permissible use within 10 years of receipt, unless there exists an extraordinary or compelling reason for fees to be held longer than 10 years. The city council shall adopt written findings setting forth its reasons for holding any fees longer than 10 years. Pooling for such purpose shall be accomplished by determining which project has the highest priority among the projects for which impact fees were collected, and the fees shall be transferred to the budget of that project. Any interest earned on impact fee installment payments, or on invested monies in the impact fee fund may be pooled and expended on any one or more of the transportation improvements for which impact fees have been collected.

E. Fees may be collected for system improvement costs previously incurred by the city to the extent that new growth and development will be served by the previously constructed improvements; provided such fee shall not be imposed to make up for any system improvement deficiencies.

F. The director is authorized to establish rules and regulations to administer the provisions of this chapter. (Ord. 6436 § 4, 2018; Ord. 6298 § 3, 2016; Ord. 5871 § 9, 2009; Ord. 4824 § 7, 1995; Ord. 4104 § 9, 1989.)

*Ord. 4907 § 4 provides:

[The Impact Fee Fund] shall be consolidated into the “General Capital Investment Program Fund” and thereby closed. All assets and operations of such funds shall be transferred to the “General Capital Investment Program Fund” which shall carry out the purposes and functions for which such consolidated funds were originally created.