A. Impact fees shall be expended solely for regional/citywide and local park, open space and recreation facilities under the jurisdiction of Monroe described in and in conformance with the capital facilities program. Impact fees may be expended for facility planning, land acquisition, site improvements, application fees, necessary off-site improvements, required mitigation, construction, engineering, architectural, permitting, financing, and administrative expenses, relocatable facilities, capital equipment, repayment of system improvement costs previously incurred to the extent that new growth and development will be served by such system improvements, and any other expenses which could be capitalized and which are consistent with the capital facilities program. Impact fees shall not be used for maintenance or operations.

B. In the event that bonds or similar debt instruments are issued for the advanced provision of system improvements for which impact fees may be expended and where consistent with provisions of the bond covenants, impact fees may be used to pay debt service on such bonds or similar debt instruments to the extent that the facilities are consistent with the requirements of this section.

C. Impact fees collected under this chapter shall be expended or encumbered for a permissible use within six years of the date they are received by the city, unless the city council finds that there exists an extraordinary and compelling reason for the fees to be held longer than six years. Such a finding shall be made in writing.

D. Impact fees collected under the authority of SEPA and the voluntary agreement provisions of RCW 82.02.020 shall be expended or encumbered for a permissible use within five years of the date they are received by the city.

E. Funds may be used to provide refunds as described in MMC 3.52.150.

F. Monroe shall be entitled to retain not more than six percent of the funds collected as compensation for the expense of collecting the fee and administering this chapter. (Ord. 005/2019 § 8)