Section 148-56 STORMWATER DRAINAGE FEES.
A. Pro rata fees; cost of area facilities. Every subdivider or developer of land within a designated stormwater drainage improvement area shall pay to the town a fee for the pro rata share of the cost of providing reasonable and necessary drainage facilities located outside the property limited of the land owned or controlled by the subdivider or developer but necessitated or required, at least in part, by the construction or improvement of the subdivision or development.
B. Drainage improvement program. Before any such fee shall be required, the Town Council shall establish by resolution a general drainage improvement program for a designated area having related and common stormwater drainage conditions. Only land within such designated areas shall be assessed a fee. All subdividers and developers owning land within such designated areas shall be required to pay the pro rata fee, and no waivers shall be permitted.
C. Calculation of pro rata fees. Prior to the adoption by resolution of a general drainage improvement program for a designated area, the town shall determine the total estimated cost of the construction of drainage improvement facilities within that designated area. The fees to be paid by a subdivider or developer shall then be limited to the proportion of the total estimated cost which the increase volume and velocity of stormwater runoff which is estimated to be actually caused by subdivision or development bears to the total estimated volume and velocity of stormwater runoff from the designated area in its fully developed state.
1. Each subdivider or developer shall receive a credit against the pro rata fee for the construction by the subdivider or developer on his property of stormwater drainage facilities which are reasonably required and incorporated by the town as a part of its general drainage improvement program. In addition, each subdivider or developer shall receive a credit against the pro rata fee for existing stormwater drainage facilities on the subdivider's or developer's property which are owned or controlled by the subdivider or developer or previously paid for at his expense or the expense of a predecessor in title, provided that said facilities are usable, in good repair and are reasonably required and incorporated by the town as part of its general drainage improvement program.
2. Credits shall be limited to the proportionate share of the costs of new construction or the appraised value of existing facilities to the total estimated cost of the general drainage improvement program construction.
E. Payment of fees. Subdividers shall pay pro rata fees at the time of subdivision plat approval for the estimated increased volume and velocity of stormwater runoff from the entire subdivision area in its estimated fully developed state. Remainder areas intended to be further subdivided at a later date will not be assessed the pro rata fee until further subdivided or otherwise developed. All other developers shall pay the pro rata fee prior to issuance of a building permit. The town, at its sole option, may permit the subdivider or developer to post a secured bond or letter of credit in the amount of the pro rata fee, conditioned on payment of the pro rata fee to the town at the time the general drainage program construction commences.
F. Expenditures of fees. Each pro rata fee received by the town shall be held in a separate account until such time as the pro rata fee is expended for the improvement program.
1. If the general drainage program facilities have not been completed within a reasonable time of not more than ten (10) years, the town shall refund an amount of each pro rata fee paid proportionate to the uncompleted facilities.
2. Upon completion of the general drainage program facilities project, the town shall determine the actual cost of construction. The town shall then recalculate the pro rata fees for the designated area. If any pro rata fee paid exceeds the actual cost of construction by more than fifteen percent (15%), the town shall refund the difference.
3. All refunds shall be made to the record owner of the property at the time the refund is made.