§ 16.34.120. Disposition of fees.

Fees determined pursuant to Section 16.34.070 shall be paid to the city engineering department and shall be deposited into the city park in-lieu (Quimby) fund, or its successor. Money in such fund, including accrued interest, shall be expended solely for acquisition, development, or rehabilitation of park land, or improvements related thereto.

Collected fees shall be appropriated by the city for a specific project to serve residents of the subdivision in a budgetary year within five years upon receipt of payment or within five years after the issuance of building permits on one-half of the lots created by the subdivision, whichever occurs later.

If such fees are not so committed, these fees, less an administrative charge, shall be distributed and paid to the then record owners of the subdivision in the same proportion that the size of their lot bares to the total area of all lots in the subdivision.

The city finance director shall report to the city council at least annually on income, expenditures, and status of the subdivision city park Quimby Fund.

(Ord. 1144 §2(part), 2006).