(A) 
Request.
Except for Subsection (B) below, whenever this GDC requires a developer to construct a public improvement the property owner may petition the City Council to construct the improvement at a later time, in exchange for a deposit of cash into escrow as established in Section 3.49 below, if circumstances exist that create an undue hardship or that would impede public infrastructure coordination or timing.
(B) 
Escrow Election.
If a developer is required to construct a public improvement under Article 4 of this Chapter 3, the developer may voluntarily elect to construct the improvement at a later time, in exchange for a deposit of cash into escrow as established in Section 3.49 below, if the developer determines that unusual circumstances exist that cause undue hardships or that would impede public infrastructure coordination or timing.
(C) 
If more than one thoroughfare will be constructed in order to meet adequacy requirements for roadways, the Director of Transportation may prioritize roadways for which escrow will be accepted and may require the deposit of all funds attributable to the development in escrow accounts for one or more of the affected roadways.
(D) 
The Director of Transportation shall review the particular circumstances involved, and may require a Traffic Impact Analysis (TIA) in accordance with Article 5, Division 5 of this Chapter 3. The Director of Transportation shall determine whether or not the acceptance of escrow deposits will be acceptable in lieu of the developer’s obligation to construct the street.
(Ordinance 6773 adopted 5/19/15)
(A) 
Amount & Responsibility.
If the City Council agrees to accept escrow deposits, or if a developer voluntarily elects to deposit funds in escrow under Section 3.48(B) above, in lieu of construction by the property owner, the property owner shall deposit in escrow with the City cash in an amount equal to the owner’s share of the costs of design, construction, permits, reviews and approvals, inspections, any additional land acquisition, and an appropriate inflation factor as per the Engineering News-Record, based upon an average of the previous five years’ inflation rates projected over the following two years, to ensure that the actual “future dollar” costs will be covered when actual construction occurs in the future.
(1) 
The amount shall be reviewed by the Director of Engineering and, if approved, shall be paid prior to issuance of a Site Permit.
(2) 
The obligations and responsibilities of the property owner shall become those of the property owner’s transferees, successors and assigns; and the liability therefor shall be joint and several.
(B) 
Return of Escrow.
(1) 
On the request of an owner of the property on which an impact fee, or an amount voluntarily paid under Section 3.48(B) above has been paid into escrow, the City shall refund the escrow funds, or the amount voluntarily paid under Section 3.48(B), if existing facilities are available and service is denied or the City has, after collecting the fee when service was not available, failed to commence construction or design within two years or service is not available within a reasonable period considering the type of capital improvement or facility expansion to be constructed, but in no event later than five years following the date of payment.
(2) 
Escrow amounts, or portions of escrowed amounts, that have been placed with the City under this Division 3 and that have been held for a period of ten years following the date of such payment or agreement, shall be returned to the person who is the property owner of record at the time the refund is paid.
(3) 
Any refund shall bear interest calculated from the date of collection to the date of refund at the statutory rate set forth in Section 395.025 of the Texas Local Government Code.
(4) 
Notwithstanding any provision contained in this GDC to the contrary, if the escrow funds were paid by another political subdivision or governmental entity, payment shall be made to the political subdivision or governmental entity.
(5) 
A refund of escrow amounts does not remove any obligations of the property owner for construction of the required facilities if a Site Permit has not been issued on the subject property or if application for a new Site Permit is made.
(Ordinance 6773 adopted 5/19/15; Ordinance 7055, sec. 16, adopted 5/7/19)