Section 25-47.05 Reserved.
Prior to the adoption of Ord. 21093 on 09/19/2011, Section 25-47.05 read as follows.
(a) At the option of the subdivider, the impact fee may be paid in increments
over a period of
not more than three (3) years, with interest computed on the unpaid balance at the rate of nine (9)
percent; provided, however, that the balance of the impact fee, and accrued interest shall become
due and payable, in full, upon completion of the subdivision prior to the expiration of the three-year
period. "Completion of the subdivision," for purposes of this section, shall mean the
issuance of a building permit for the last remaining lot in the subdivision. If the subdivider
chooses this extended payment option, he shall, as a condition of final plat approval, sign and file
with the city clerk and consent to the recordation of, a "notice of impact fee due" which
recorded as a lien against the subject property. The lien may be released only upon payment in
full of the impact fee. The lien may be released, in part, upon payment of the increments so that
the amount of land or number of lots released is roughly equivalent to the proportion of impact
fee paid. The initial incremental impact fee payment shall be due not later than one (1) year from
the date of final plat approval. Subsequent incremental impact fee payments shall be due not later
than two (2) and three (3) years respectively from the date of final plat approval. Payments may
be made in advance at the option of the subdivider. Late payments shall subject the subdivider to
a penalty of ten (10) percent of the amount due and additional interest in addition to all other
remedies available to the city as a lien holder.
(b) No final plat or administrative plat shall be recorded by the city
clerk unless the impact fee
is paid in full or a notice of impact fee due is filed with the city clerk and recorded as a lien
against the subject property.
(c) Upon payment of the impact fee in full by the subdivider, the city
clerk shall record a
release of lien for impact fee which shall read as follows:
RELEASE OF LIEN FOR IMPACT FEE DUE
The City hereby acknowledges receipt of all Impact Fees due in connection
with the ________
subdivision which were imposed as a condition of final plat approval pursuant to Article V of
Chapter 25 of the Code of Ordinances of the City of Columbia, Missouri.
No such release shall be recorded until the impact fee has been paid in full.
(Ord. No. 10833, § 5, 12-16-85)