§ 107-22. Guidelines for credit valuation.  


Latest version.
  • Credits under this section shall be valued using the following guidelines:

    (1)

    Construction. For the construction of any system improvements by a developer (as defined in this chapter) or his or her predecessor in title or interest and accepted by the city, the developer shall present evidence satisfactory to the administrator of the original cost of the improvement. The administrator shall determine if the amount claimed is reasonable and appropriate.

    (2)

    Land. For any contribution or dedication of land for system improvements by a developer or his or her predecessor in title or interest and accepted by the city, the value of the land so dedicated shall be the lesser of: the original cost of the land paid by the developer, or that value attributed to the property by the validated Fulton County Tax Appraisal at the time of dedication.

    (3)

    Equipment. For any contribution of capital equipment that qualifies as a system improvement by a developer or his or her predecessor in title or interest and accepted by the city, the value shall be the original cost to the developer of the capital equipment or the cost that the city would normally pay for such equipment, whichever is less, and as determined to be reasonable and appropriate by the administrator.

    (4)

    Money. For any contribution of money for system improvements from a developer or his or her predecessor in title or interest accepted by the city, the original value of the money shall be the same as that at the time of contribution, from which present value may be calculated.

    (5)

    In making a present value calculation, the discount rate used shall be the interest rate being earned on the city's impact fee funds, and the average annual inflation rate shall be that for the Consumer Price Index (the CPI) for the cost of money, or the average rate reported by the Engineering News Record for construction in general (the CCI) or building construction specifically (the BCI), as appropriate.

( Ord. No. 2016-10-33 , § I, 10-18-2016)