§ 12-1505. DEFERRAL OF INDUSTRIAL DEVELOPMENT FEES.

(a) Industrial Development Fees may be deferred, at the option of the property owner, to the time of application for a certificate of occupancy. Such deferral requires the execution of an agreement with the City which substantially complies with the following:

(1) The fee obligation deferred, including fees generated by common areas, outlots, and similar areas within a subdivision or development shall be prorated to each lot, parcel, unit, building or outlot in the manner specified by the Director.

(2) The agreement shall set forth the itemized fees and the total of the deferred fees.

(3) The deferred fee shall be payable at the rate in effect at the time of payment.

(4) The agreement authorizing deferred payment shall be in a form approved by the City Attorney.

(5) The agreement shall constitute a covenant running with the land, shall establish a lien on the property in favor of the City in the amount of the deferred charges, and shall be recorded in the office of the Fresno County Recorder.

(6) The agreement shall provide that the whole, or any part of the balance of the charges due at any time under the agreement may be accelerated and paid at any time, at the option of the payor.

(7) The agreement shall be signed by all persons having a record title interest in the real property for which the fees are being deferred and shall include a legal description of the property.

(b) In addition to the option provided under subsection (a), payment of the Wastewater Facilities Charge may be paid at occupancy or may be financed by an agreement between the property owner and the City, to pay such charges together with interest on the unpaid balance, over a period of not more than five years, in accordance with the following provisions:

(1) The agreement shall provide for substantially equal bimonthly installments included in the utility bill amortized over a period of five years following the application for certificate of occupancy, at an interest rate established by the Controller.

(2) The agreement shall be in a form and content prescribed by the Controller and approved by the City Attorney.

(3) The agreement shall be signed by all persons having a record title interest in the real property being served by the sewer system, to which the connection is requested, and shall include the legal description of the property.

(4) The agreement shall provide that the whole, or any part of the balance of the charges due at any time under the agreement may be accelerated and paid at any time, at the option of the payor.

(5) The agreement shall constitute a covenant running with the land, shall establish a lien on the property in favor of the City in the amount of the deferred charges, and shall be recorded in the Office of the Fresno County Recorder.

(6) The agreement shall provide that in the event of sale of the property, that the remainder of the deferred fee shall be due and payable to the City. The City Manager may waive this provision for good cause.

(7) The agreement shall provide that in the event the payments due are more than ninety days in arrears, the City may accelerate the debt and demand payment of the remaining balance in full.

(8) The lien for said fee shall be enforceable by the City in any manner available at law or in equity, including but not limited to private foreclosure and sale of the property in the manner provided in Section 2924 of the California Civil Code. (Added Ord. 97-29, § 1, eff. 7-28-97).