§ 9.3.10. Credits.

A.

General.

1.

Standards. Any applicant/fee payer required to dedicate land or pay in-lieu fees under this regulation may apply for a credit against any in-lieu fees otherwise due, up to but not exceeding the full obligation for the in-lieu fees proposed to be paid under this regulation, for any contribution, payment, or dedication of land accepted and received by Larimer County for the development for any community park land.

2.

Credit amounts. Credit shall be in an amount equal to fair market value of the land dedicated at the time of its dedication, or the value of the contribution or payment at the time it was made to Larimer County.

3.

Credits not transferable. Credits for contributions, payments, or dedication of land for any community park land shall run with the land and shall be transferable within the same development. They shall not be transferable to other development for credit against the payment of community park land in-lieu fees, or for credit against fees required to be paid for other public facilities. The credit shall not exceed the amount of the in-lieu fees otherwise due and payable for the proposed land division.

B.

Procedures.

1.

General/application requirements. The determination of any credit shall be undertaken upon the submittal of an application for credit agreement, which must be submitted to the fee administrator. The application for credit agreement must include the following information:

a.

If the proposed application for credit agreement involves credit for the dedication of land:

(1)

A drawing and legal description of the land;

(2)

The appraised fair market value of the land at the date of the dedication prepared by a professional real estate appraiser who is a member of the Member Appraisal Institute (MAI) or who is a member of Senior Residential Appraisers (SRA) and, if applicable, a certified copy of the development permit in which the land was agreed to be dedicated.

b.

If the proposed application for credit agreement involves a credit for any other contribution or payment:

(1)

A certified copy of the development permit in which the contribution or payment was agreed;

(2)

If payment has been made, proof of payment; or

(3)

If payment has not been made, the proposed method of payment.

2.

Sufficiency review of application. Within ten working days of receipt of the proposed application for credit agreement, the fee administrator will determine if the application is complete. If it is determined that the proposed agreement is not complete, the fee administrator will send a written statement to the applicant outlining the deficiencies. The fee administrator will take no further action on the proposed application for credit agreement until all deficiencies have been corrected or otherwise settled.

3.

Review by fee administrator. Once the fee administrator determines the proposed application for credit agreement is complete, it will be reviewed within 20 working days. The application for credit agreement shall be approved if it complies with the standards in subsection 9.3.10.A.

4.

Credit agreement. If the application for credit agreement is approved by the fee administrator, a credit agreement will be prepared and signed by the applicant and the county. It will specifically outline the contribution, payment or land dedication; the time by which it shall be completed, dedicated or paid (and any extensions thereof): and the dollar credit the applicant will receive for the contribution, payment or construction.

C.

Appeal of application for credit agreement. Any person affected by the decision of the fee administrator regarding credits may appeal the decision to the county commissioners by filing with the fee administrator, within ten working days of the date of the written decision, a written notice stating and specifying briefly the grounds of the appeal. The fee administrator will place the appeal on the county commissioner's agenda for the next regularly scheduled meeting. The county commissioners, after a hearing, will affirm or reverse the decision of the fee administrator based on the standards in subsection 9.3.10.A. If the county commissioners reverse the decision, they will direct the fee administrator to readjust the credit in accordance with their findings.