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ATTY/ORD.0010/CC ORD AMENDING MUNI CODE CH.18, 27A, 30 – EXHIBIT C REV: 09-17-24 VR Page 58 of 65 fees or the issuance of building permits on one-half of the lots created by the subdivision, whichever occurs later. If the fees are not committed, they, without any deductions, shall be distributed and paid to the then record owners of the subdivision in the same proportion that the size of their lot bears to the total area of all lots within the subdivision. B. All fees collected shall be deposited into a subdivision park trust fund. Money in that fund, including accrued interest, shall be used only for the purpose of developing new or capacity enhancing park or recreational facilities that serve the subdivision for which the fees were paid. C .Land and improvements accepted by the City pursuant to this Article shall be used only for the purpose of developing new or rehabilitating existing neighborhood or Community Park or recreational facilities that serve the subdivisions for which the fees were paid. D. There is no requirement that any park or recreational facility fully or partially funded pursuant to this Article or dedicated to the City pursuant to this Article be accessible only to the residents of a specific subdivision, and all such parks and recreational facilities shall be open to the public in the manner specified by the City Council and by City policy. E. Collected fees shall be appropriated by the City or paid for a specific project to serve residents of the subdivision in a budgetary year within five (5) years upon receipt of payment or within five (5) years after the issuance of building permits on one-half (½) of the lots created by the subdivision, whichever occurs later. Sec. 30.73. – TIMING OF PAYMENT: A. Any fee required by this Article shall be payable with respect to the entire subdivision when any application is submitted for any building permit in the subdivision. However, payment of the portion of the fee attributable to each parcel in the subdivision may be deferred to the date of approval of the final building inspection of the building on that parcel, provided the subdivider enters into a recordable agreement with the City prior to issuance of the building permit for the development, which shall constitute a lien on the property from the date of recordation and shall be enforceable against successors in interest to the property owner. The agreement shall provide that approval of the final building inspection shall not be granted until the fee is paid. The agreement shall also provide that, in any action to collect the fee or any portion thereof, the City shall be entitled to all of its costs of enforcement and collection, including reasonable attorney's fees. The City Manager may execute such agreements on behalf of the City in a form acceptable to the City Attorney. B. A credit granted pursuant to Section 30.71(C) shall be applied when the City accepts the land or improvement. If the City Council has made the determinations required by Section 30.71(C), payment of a portion of the required fee equal to the amount of an expected credit against the fee may be deferred to the date of approval of the final building inspection of the development, provided the owner of the real property for which the fee is required enters