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or encumbered within six years, an individual may request a refund; however, in the proposed <br />ordinance, the property owner associated with a specific impact fee would receive notification <br />from County staff, go through the application process, and receive their refund. Attorney <br />Polackwich conveyed that there is a baseline six year refund period in the proposed ordinance; <br />however, an option has been included to extend the refund period for a specific impact fee from <br />six to nine years. <br />Considerable discussion ensued, with input from Administrator Baird, Attorney <br />Polackwich, and Budget Director Brown regarding whether to couple or decouple the interest <br />from the impact fees; and whether to retain in the final ordinance, the option to extend a specific <br />impact fee fund refund. <br />Commissioner Solari remarked that there would have to be a rational basis for the three <br />year refund extension, because if the impact fee funds originally paid are held for an additional <br />three years, they would lose value. He advocated coupling the interest with the impact fee that <br />was paid <br />Management and Budget Director Jason Brown, explained that many developers who <br />paid fees were unable to build out their projects, and have been given project extensions. <br />Administrator Baird urged the Board to keep in mind how hard it is to accumulate <br />sufficient funding to build and operate the projects that will accommodate future growth. <br />Vice Chairman O'Bryan supported the optional three year extension period, explaining <br />that the Clerk's method of calculating the interest would preserve the value of an impact fee <br />through the nine years. He advocated maintaining the accumulated interest in the account, so <br />the funds can be used to make improvements for the entire community. <br />January 17, 2012 13 <br />BK 141 PG 895 <br />