7.11.14 Offsets
The Town shall
grant offsets to transportation development fees
for road cost that exceed the requirements for a collector road in
accordance with this section or Section
7.11.16, Developer Agreements.
There shall be no other offsets to transportation development fees.
(A) Offset value
calculations shall depend on the following factors:
(1) The value of the road right-of-way dedicated
by the developer to
the Town for
a qualifying road improvement.
The value of the road right-of-way to
be used in this calculation shall be the actual sale value of the land,
if the land has been sold within the last three years before dedication; if
the land has not sold within the last three years before the dedication,
the applicable value shall be determined by professional appraisal. The
appraisal shall be performed in accordance with the Town's Standard
Procedures.
(2) The construction costs
paid at the time of construction by
the developer for
qualifying road improvements.
Offsets will not be paid for any road construction that
exceeds the standards of the Town's Standard
Specifications and Details Manual.
Cary, NC Land Development Ordinance On-line VIC Version - This site last
updated 3/4/2008
Note: This is not the official version of the Cary Land Development
Ordinance
