17.14.040 Terms and Conditions of Deferred Payment and Installment Payment Agreements.

City Code Section

(Amended by Ordinances 183447, 185326, 189506 and 191243, effective April 19, 2023.)

  1. A.  Deferred Payments.
    1. 1.  The City shall authorize the deferred payment of system development charges as follows for periods not to exceed:
      1. a. 6 months for a project valued less than or equal to $750,000;
      2. b. 9 months for a project valued greater than $750,000 and less than or equal to $7 million; 
      3. c. 12 months for a project valued greater than $7 million; and
      4. d. 24 months for a project that includes new residential units, regardless of project value, provided a completed building permit application has been received by June 30, 2025, and an SDC deferral application that complies with Section 17.14.030 of this Code must be received between April 6, 2023, and August 15, 2025.
    2. 2.  For purposes of this Section, the City shall rely on the value assigned to projects by the City when calculating building permit fees.
    3. 3.  With the exception of a deferral approved under Subsection A.1.d., of this Section, for which the City will charge no interest during the deferral period, the City shall charge simple interest during the deferral period at the interim interest rate established by ordinance pursuant to Chapter 17.12 of this Code.
    4. 4.  The City shall collect fees and charges for the processing and administration of deferred payment agreements as set by general ordinance.
  2. B.  Installment Payment Agreements.  Payment of principal and interest shall be made in installments as set forth in the signed installment payment contract.

Upcoming and Recent Changes

Ordinance 191243

Effective Date