The Quimby Act requires the City to develop a schedule specifying how, when, and where the City will use the land or fees to develop park and recreation facilities, and includes required provisions for repayment of fees not committed within five years.
Disposition of Fees. Fees determined pursuant to Section
17.14.08 shall be paid to the City and shall be deposited into the Park Development Fund. Money in this fund, including accrued interest, shall be expended solely for acquisition or development of parkland, or improvements for recreational facilities.
Collected fees shall be appropriated by the City for a specific project to reasonably serve the residents of the subdivision 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 first.
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 lots bears to the total area of all lots in the subdivision.
The Director of Finance shall report to the City Council at least annually on income, expenditures, and the status of the Park Development Fund.