HomeMy WebLinkAboutORD 4936Amends ORD 4923
CITY OF RENTON, WASHINGTON
ORDINANCE NO. 4Q3fi
AN ORDINANCE OF THE CITY OF RENTON, WASHINGTON,
AMENDING SECTION 9-16-10, PAYMENT OF SPECIAL ASSESSMENT
DISTRICT FEE, OF CHAPTER 16, SPECIAL ASSESSMENT DISTRICTS,
OF TITLE 9 (PUBLIC WAYS) OF ORDINANCE NO. 4260 ENTITLED
"CODE OF GENERAL ORDINANCES OF THE CITY OF RENTON,
WASHINGTON" BY REVISING POLICIES PERTAINING TO
INTEREST PAYMENTS ON SPECIAL ASSESSMENT CHARGES.
THE CITY COUNCIL OF THE CITY OF RENTON, WASHINGTON, DO ORDAIN
AS FOLLOWS:
SECTION I. Section 9-16-10, Payment of Special Assessment District Fee, of
Chapter 16, Special Assessment Districts, of Title 9 (Public Ways) of Ordinance No. 4260
entitled "Code of General Ordinances of the City of Renton, Washington" is hereby amended to
read as follows:
9-16-10 PAYMENT OF SPECIAL ASSESSMENT DISTRICT FEE:
A. Special assessment district fees triggered by improvements or development, as
described in Section 4-1-180 of this code, are due and payable before the first of the following
occurs:
1. The issuance of a Public Works Construction Permit, or
2. The recording of a single family residential plat or single family
residential short plat, or
3. The issuance of a building permit.
B. For the owners of existing single family homes only, time payments for special
assessment district fees may be arranged under the following criteria:
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ORDINANCE NO. 4936
1. Time payments are only allowed for special assessment district charges.
Other charges, such as system development charges or permit fees, shall be paid at the time of
permit issuance.
2. The minimum amount of total special assessment district charges that will
qualify for time payments is $3,000 for each parcel the fee is being paid for.
3. There shall be no more than five (5) equal base payments, due in annual
installments, with the first payment due one year after the permit is issued and the remaining
payments due on the anniversary of the permit issuance.
4. In addition to the annual base payments, the property owner shall also pay
interest on the outstanding balance. The interest rate used shall be calculated as the previous
quarter's ending 3-month Treasury Bill rate (Constant Maturities), obtained from the Federal
Reserve, plus one percent (1%) for administration of the contract.
Time payments will not be allowed for private held latecomers, commercial properties,
multi-family properties and platting or short platting properties for development.
SECTION II. This ordinance shall be effective upon its passage, approval, and
30 days after publication.
PASSED BY THE CITY COUNCIL this 17th day of December 2001.
rsen, City Clerk
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ORDINANCE NO. 4 936
APPROVED BY THE MAYOR this 17th day of December , 2001.
Approved as to form:
Lawrence J. WarrehfCity Attorney
Date of Publication: 12/21/2001
ORD:964:12/7/01 :ma
Jes^Tanner, Mayor
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