In accordance with ESB 5923 (2015), impact fees assessed for single-family detached or attached new residential construction may be deferred at the election of an applicant for impact fee deferral under the following conditions:
A. For each single-family residence for which any impact fee deferral is applied for, an administrative fee is set in the amount of $250.00 and must be paid to the town due to the increased burden placed on the town staff for processing and monitoring such deferral.
B. A separate application must be submitted for each single-family residence being constructed. Only the first 20 applications per calendar year by each applicant for impact fee deferral are eligible for impact fee deferral under this article.
C. The period of deferral expires at the earliest of:
1. The time of final inspection by the building inspector as reported to town officials;
2. The time of issuance of a certificate of occupancy by the town;
3. The time of closing of the first transfer of the property occurring after the issuance of applicable building permit; or
4. Eighteen months after the building permit is issued by the town.
D. Final inspection approval, certificate of occupancy, and any future utility hookups will not be issued or made until payment in full of the impact fees is made. For the first transfer of the property, the impact fees shall be paid at closing if they have not been previously paid.
E. The applicant for impact fee deferral must grant and record in favor of the town of Yacolt an impact fee lien in the amount of the deferred impact fees. The lien must be in a form signed, dated and approved by the mayor of Yacolt, and signed by all owners of the property and persons or entities holding any interest in the property, with all signatures acknowledged as required for a deed, and recorded among the appropriate land records of Clark County. Proof of such recording shall be submitted to the town of Yacolt before a building permit may be issued. The lien must specify that it is binding on all successors in title after the recordation. The lien may specify that it is subordinate to one mortgage for the purpose of construction upon the same real property granted by the applicant for impact fee deferral. A mortgage, deed of trust or other financing mechanism shall be limited to the property upon which construction on one single-family residence will occur. A lien not paid when due shall bear interest at the statutory rate. A lien shall become due at the expiration of the deferral date.
F. If impact fees are not paid in accordance with ESP 5923 (2015) the town of Yacolt may institute foreclosure proceeding in accordance with Chapter
61.12 RCW.
G. After full payment of impact fees, and upon written request of the person paying said fees containing the name and address of the requester together with a copy of a proposed lien release form, the town of Yacolt, upon approval of the clerk and town attorney, shall sign a lien release and deliver it to the person paying said fees either in person or by first class mail.
(Ord. 545 § 2, 2016; Ord. 559 § 2(A), 2017)