§ 9.3.11. Benefit districts.

A.

Establishment of benefit districts. For the purpose of ensuring subdividers/fee payers receive sufficient benefit for fees paid, the areas within the corporate limits and GMA district or GMA of each participating local government are hereby designated as a community park benefit district. Subdistricts of these community park benefit districts will be established in the intergovernmental agreements to ensure applicants/fee payers receive sufficient benefit for in-lieu fees paid.

B.

Expenditure. In-lieu fee funds will be spent within the community park benefit district and subdistricts in which the development is located. In-lieu fees will be spent only for community parks. Eligible expenditure items include the raw land for community and neighborhood parks and the engineering and construction of capital improvements necessary to make the land usable for community and neighborhood parks, including clearing and grading, drainage improvements, fences, parking, road access and utilities to the perimeter of the property and other similar infrastructure improvements.

C.

Establishment of trust funds. There are hereby established community park trust funds (one for each benefit district) into which in-lieu fees collected from development within the benefit district will be deposited. Any proceeds in the community park trust fund not immediately necessary for expenditure will be invested in interest-bearing assets. All interest on the proceeds and any income derived from investments will be retained in the trust fund. Records of the trust fund accounts will be available for public inspection in the office of the fee administrator during normal business hours.

D.

Intergovernmental agreements. The transfer of in-lieu fees to the participating local governments and provisions to ensure that in-lieu fees are spent according to the requirements of this regulation will be addressed in the intergovernmental agreements. The county will not transfer any funds to any participating local government until an intergovernmental agreement has been signed by the county commissioners and the governing body of that participating local government. The agreement must ensure that in-lieu fees are spent in such a way that fee payers receive sufficient benefit from in-lieu fees paid.