POLICY STATEMENT 64A

IMPLEMENTATION OF THE TRANSPORTATION DEVELOPMENT FEES CREDIT CERTIFICATE

Prepared by: W.D. Vick

Adopted by Council: 5/11/89

Effective: 5/11/89

Purpose 

The purpose of this policy is to allow orderly implementation and collection of transportation development fees between the period of time that transportation development fee offsets are requested by the developer and the transportation development fee offset credit certificates are issued by the Town. 

Coverage

This policy, upon adoption, shall be applicable to all developers who have submitted a request for transportation development fee offsets and have not been issued the transportation development fee credit certificate.

Policy

The Town Council hereby establishes the following policy and procedure for the collection of transportation development fees during the period of time that the developer has requested transportation development fee offsets and the time that the Town issues the official transportation development fees credit certificate.

1. Transportation development fees shall be collected in cash and in accordance with the adopted fee schedule until a developer requests a transportation development fee credit certificate and submits the necessary documentation to verify the amount of the offsets he is due under the adopted transportation development fee ordinance.

2. Upon submission of the request and documentation for transportation development fee credits, the Town will accept letters of authorization from the developer in lieu of cash. The letters shall bear the name of the subdivision and the amount the developer wishes to apply toward transportation development fees. It shall be signed by the owner or corporate officer having the authority to legally authorize the use of transportation development fee credits and must be properly notarized. The letter of authorization shall only be accepted to the extent that anticipated transportation development fees credits will be issued. The amount of the letter of authorization shall be debited against the transportation development fee certificate prior to its issuance. 

3. Transportation development fees can be paid with properly executed transportation development fee debit memos after the Town has issued the transportation development fee credit certificate.