8.2.3 Payment of Fees in Lieu of Required Improvements
(A) Any owner or developer who
is required to dedicate or install off-site improvements pursuant
to Section
8.2.2 above may make a payment of fees in lieu of such improvements,
or part thereof, provided that the Town Council
or Planning and Zoning Board approves such, as part of approving the site
plan, upon determining that such improvements are
not necessary or desirable at the time but will be needed in the
future. This section shall not apply, however, to street improvements,
which are governed by the fee provisions in Section
8.1.5(D).
(B) The amount of any such payment shall be
100 percent of the actual installation and construction cost
of such improvements,
as estimated by a registered professional engineer selected
by the applicant and approved by the Town
Engineer. The amount paid for a given street
frontage shall be considered total and complete payment for the improvements considered,
and shall preclude the Town from
assessing that frontage for additional fees in the event that the Town elects
to install such improvements along
that frontage at a later date.
(C) Such payment shall be obligated by a
letter of agreement executed by the owner or developer prior
to the issuance of any environmental permit or building
permit pursuant to an approved site
plan, whichever is earlier. Full payment shall be made before the
Engineering Department may issue any Certificate of Occupancy for any use
covered by the site
plan.
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
