A. School impact fees not spent or encumbered within ten years after receipt by the affected school district shall, upon receipt of a proper and accurate claim, be refunded, together with interest, to the then-current owner of the property. In determining whether school impact fees have been encumbered, impact fees shall be considered encumbered on a first in, first out basis. At least annually the city, pursuant to MMC 3.50.150, shall give notice to the last known address of potential claimants of any funds, if any, that it has collected that have not been spent or encumbered. The notice will state that any persons entitled to such refunds may make claims.
B. Refunds provided for under this section shall be paid only upon submission of a proper claim pursuant to city claim procedures. Such claims must be submitted to the finance director within one year of the date the right to claim the refund arises, or the date of notification provided for above, where applicable, whichever is later. (Ord. 005/2019 § 7)