An applicant shall pay an in-lieu art fee deposit at the time of applying for any commercial building permit, in support of the requirement to provide public art in accordance with Sections
17.148.020 through
17.148.040 of this chapter. All fees paid pursuant to this chapter shall be deposited into an art program fee fund. If the applicant opts to install and maintain public art, the applicant is eligible for a refund of the inlieu art fee deposit up to the maximum appraised value of the art upon completion of the art installation. If the applicant opts not to place public art, the in-lieu art fee deposit shall remain in the art program fee fund and shall be exclusively used for the acquisition, installation, improvement, and maintenance of physical artwork to be displayed in the Town for public view. The revenue deposited into this fund shall also be used for the administration of the public art program. This fund shall be maintained by the Town Treasurer.
(Ord. 21-501 § 9)