§ 33I-10. Benefit zones and trust funds.  


Latest version.
  • (a)

    There are hereby created and established three (3) police services impact fee benefit zones. The geographic locations of these benefit zones are reflected on Attachment "1," which exhibit is incorporated into and made a part of this ordinance by reference. Subsequent to the effective date of this ordinance, new trust fund accounts shall be established for each of the three police services impact fee benefit zones created hereby. Existing police services impact fee benefit zones trust fund accounts shall then be prorated and transferred into these new trust fund accounts in accordance with the table identified as Attachment "2", which exhibit is incorporated into and made a part of this ordinance by reference.

    (b)

    A separate interest bearing trust account shall be established for each benefit zone. All impact fees collected shall be promptly deposited into the trust account designated for the benefit zone where the feepaying development is located, except for general administrative costs and convenience fees, which shall be deposited into the operating account of the County Department of Regulatory and Economic Resources or successor department. Impact fee funds from each trust account shall be spent in accordance with Sections 331-10 and 33I-11 within the benefit zone designated for that trust account.

    (c)

    Expenditures from each fund shall be limited to the acquisition, expansion or improvement of real property, capital facilities or equipment made necessary by the new development from which the fees were collected or for principal and interest payments (including sinking fund payments) on bonds or other borrowed revenues used to acquire, expand or improve such facilities or equipment necessitated to mitigate the impact of and provide benefit to new development. As provided in Section 33I-11(e), funds can be expended on acquisition, expansion or improvement of capital facilities and equipment for central response and support services made necessary by new development in proportion to the impact on central response and support services made by the new development.

(Ord. No. 90-31, § 2, 4-3-90; Ord. No. 94-167, § 1, 9-13-94; Ord. No. 95-215, § 1, 12-5-95; Ord. No. 98-125, § 29, 9-3-98; Ord. No. 06-14, § 1, 1-24-06; Ord. No. 15-144, § 3, 12-1-15Ord. No. 17-04, § 3, 1-24-17)