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2001-305S \Our Docuro~nls\Ordmnnces\OIkPayments m L~eu of Construction doc ORDINANCE SO AN ORDINANCE OF THE CITY OF DENTON, TEXAS, AMENDING CHAPTER 34 "SUBDIVISION AND LAND DEVELOPMENT REGULATIONS", OF THE CODE OF ORDINANCES OF THE CITY OF DENTON, TEXAS TO ADD SECTION 34-127 "PAYMENTS IN LIEU OF CONSTRUCTION POLICIES AND PROCEDURES", PROVIDING A SEVERABILITY CLAUSE AND A REPEALER CLAUSE, AND PROViDING AN EFFECTIVE DATE WHEREAS, the City Engineer of the City of Denton and the Planning and Zoning Commission have recommended that the City's subdivision regulations be amended to provide for certain payments an lieu of constructmn polices and procedures as more fully set forth below, and WHEREAS, the City Council, after conducting a public heanng, hereby finds that it is in the public Interest to make such amendment to the subdivision regulations, NOW, THEREFORE THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS SECTION 1 Chapter 34 "Subdivision and Land Development Regulations" of the Code of Or&nantes of the City of Denton, Texas is hereby amended to add a Section 34-127 to read as follows See 34-127. Payments in Lieu of Construction Policies and Procedures (a) Payments in Lteu of Constructton Payments In lieu of construction of required perimeter streets and sidewalks may be permitted at the time of final plat approval under the following circumstances (1) Due to safety, connectivity, size of the project, the improvements being a part of an upcoming public improvement project, the improvements being a part of a multi-phased project, or other reasonable factors, the City determines it would be more feasible to defer the actual construction of the required public improvements to a later date, or (2) In granting an exaction variance under Section 34-6, the variance may be con&tioned upon payments in lieu of construction, and (3) The Planning and Zoning Commission, or City Council in the case of an exaction variance, finds that the existing conditions are such that it will not be hazardous to defer the construction of such public improvements to a later date (b) Deposit and Determtnatton of Payment Amount When payments in lieu of construction are permitted by these regulations, they shall be deposited by the owner with the City Engineer at the tame of final plat approval Such mount shall be equal to the cost of the design and eunstruetion of the reqmred improvements The City Engineer shall determine the amount of the payment by using the average of comparable bids awarded by the City in the preceding, SlX months, or ~f none ex~st, then in the preceding year, or ~f none exists, the current market value of construction as determined by an estimate of the C~ty Engineer The owner will be permitted to provide the City Engineer any market data to facahtate his estimate The design fee estimate shall be calculated as SlX per cent of the construction costs (c) Disbursement of Deposited Funds The deposited funds, together with accrued ~nterest, may be disbursed for the payment of the design and construction of any public improvement for which the funds were deposited (d) Refunds In the event the City has not authonzed the preparation of plans and specifications for the construetaon of public ~mprovements for which funds have been deposited within ten years after such funds have been deposited with the City, upon written request from the owner, or its successors or assigns, the City shall refund the funds, with accrued interest If a public improvement for which funds are deposited ~s constructed by another governmental entity at no cost to the City, the funds and accrued ~nterest shall be refunded to the owner after completion and acceptance of the pubhc ~mprovements In the event a portion of the cost IS borne by the City and the other portion is borne by another governmental entity, the Oty will refund any unused portion after eompletaon and acceptance of the pubhc improvements (e) Interest Ltmttat~on If deposited funds are refunded w~thin s~x months of deposit, only the pnnclpal will be refunded Funds returned after that date will be refunded with accrued interest, calculated at one per cent less than the rate of actual earnings Actual earnings ts the rate of return on the actual investment of the deposited funds by the C~ty (f) Owner's Option Payments in heu of construction are not impact fees The owner shall have the option to construct the reqmred street and s~dewalk ~mprovements SECTION 2 If any provision of this ordinance or the apphcataon thereof to any person or circumstance ~s held ~nvahd by any court, such mvahd~ty shall not affect the vahchty of other provisions or applications, and to this end the prows~ons of th~s ordinance are severable SECTION 3 To the extent of any conflict between th~s ordinance and any other ordinance of the City of Denton this ordinance shall supercede any such confhctmg provlsIun Subsectwn 34-114(5)b 2 of the Code of Ordinances of the City of Denton is hereby repealed In ~ts entirety SECTION 4 This ordinance shall become effective ~mmedlately upon ~ts passage and approval Page 2 P4SSED AND APPROVED thlsthe ~/~d~ayof ~ ,2001 EULINE BROCK, MAYOR ATTEST, JENNIFER WALTERS, CITY SECRETARY APPROVED AS TO LEGAL FORM Page 3