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HomeMy WebLinkAbout2877 Authorize City Manager to Defer System Development Charges and Land Use/Building Permit Fees Ordinance No. 2877. AN ORDINANCE OF THE CITY OF PORT TOWNSEND AMENDING PORT TOWNSEND MUNICIPAL CODE CHAPTER 13.03, SYSTEM DEVELOPMENT CHARGES FOR WATER AND SEWER CONNECTIONS TO AUTHORIZE THE CITY MANAGER TO DEFER SYSTEM DEVELOPMENT CHARGES, AND TO AMEND CHAPTER 20.09, LAND DEVELOPMENT PERMIT APPLICATION AND APPEAL FEES TO AUTHORIZE THE CITY MANAGER TO DEFER LAND USE AND BUILDING PERMIT FEES WHEREAS, the City Council determines that it is appropriate that permit fees and charges be deferred in appropriate cases for projects which promote substantial additional private sector jobs and/or leverage private sector investment so that the City's tax base is substantially increased as a result of such project. The deferral shall be on such terms and with such security as protects the payment of the fee. NOW, THEREFORE, the City Council of the City of Port Townsend ordains as follows: SECTION 1. NEW SECTION. There is hereby adopted and added a new section 13.03.115 to the Port Townsend Municipal Code, to read as follows: 13.03.115 Deferral of Fees The City Manager is authorized to defer fees for projects that the City Manager determines promote substantial additional private sector jobs and/or leverage private sector investment so that the City's tax base is substantially increased as a result of such project The deferral shall: a. Be on such terms and with such security (including recorded restrictive covenant or other security) as determined by the City Manager protects the payment of the fee; Not exceed a period of deferral of more than two years, or sale of property, whichever occurs first; Not include deferral of any costs of notices, publication and other costs to the City; Include repayment in full with interest thereon at a rate commensurate with the annual one-year U.S. Treasury notes and bonds, adjusted for constant maturities, as published in the Federal Reserve Bulletin or otherwise available from the Federal Reserve Bank, computed annually on unpaid balances. Interest calculated pursuant to this section shall not be compounded. b. c. d. Page 1 Ordinance 2877 SECTION 2. NEW SECTION. There is hereby adopted and added a new section 20.09.075 to the Port Townsend Municipal Code, to read as follows: 20.09.075 Deferral of Fees In addition to fee refunds and deferrals pursuant to section 20.09.070, the City Manager is authorized to defer fees for projects that the City Manager determines promote substantial additional private sector jobs and/or leverage private sector investment so that the City's tax base is substantially increased as a result of such project. The deferral shall: a. Be on such terms and with such security (including recorded restrictive covenant or other security) as determined by the City Manager protects the payment of the fee; Not exceed a period of deferral of more than two years, or sale of property, whichever occurs first; Not include deferral of any costs of notices, publication and other costs to the City; Include repayment in full with interest thereon at a rate commensurate with the annual one~year U.S. Treasury notes and bonds, adjusted for constant maturities, as published in the Federal Reserve Bulletin or otherwise available from the Federal Reserve Bank, computed annually on unpaid balances. Interest calculated pursuant to this section shall not be compounded. b. c. d. SECTION 3. SEVERABILITY. If any provision of this ordinance or its application to any person or circumstance is held invalid, the remainder of the ordinance, or the application of the provision to other persons or circumstances is not affected. This ordinance shall take effect and be in force five days after the date of its publication in the manner provided by law. Adopted by the City Council of the City of Port Townsend, Washington, at a regular meeting thereof, held this seventh day of September, 2004. ~ t~.--.',2~ L.,,- ~.ยก) ~--- Catharine Robinson, Mayor ~ Pamela KOlacY,~W Approved as to Form: ~~ John P. Watts, City Attorney Page 2 Ordinance 2877