9-3-12: AUTHORITY OF TOWN TO ACCEPT PAYMENT OF FEE IN LIEU OF THE PROVISION OF OFF STREET PARKING:
An applicant to develop property for a commercial use within the service area (and only within such area) may be permitted to pay a fee to the town in lieu of providing all or part of the off street parking required by section 9-3-8 of this chapter. The right of an applicant to make such payment, and the authority of the town to accept such payment, shall be subject to the following limitations:
A. The amount of the in lieu fee shall be nineteen thousand two hundred thirty six dollars ($19,236.00) per space, or fraction thereof, for each required off street parking space. The amount of the in lieu fee shall be adjusted annually, beginning in 2013, to reflect the percentage increase, if any, in the consumer price index (CPI-U) for all items for the Denver-Boulder, Colorado area produced by the bureau of labor statistics, or any successor index.
B. No in lieu fee shall be imposed by the town or paid by the applicant without the consent of the applicant. Such consent may be evidenced by the applicant's signature on the development permit.
C. An in lieu fee shall be collected prior to or at the time of the issuance of a building permit for the development.
D. Except as provided in subsection 9-3-14D of this chapter, in lieu fees once paid are nontransferable and nonrefundable. Any in lieu fee paid in connection with the development of a particular lot, tract or parcel shall run with the land for which it is paid and is nontransferable to any other lot, tract or parcel.
E. If the development permit for which an in lieu fee has been paid has expired, and a new application for a development permit is thereafter filed for the same development, the town shall credit any previous payment of in lieu fees against any in lieu fees due for the new application.
F. If a change in use of a property results in a reduced requirement for off street parking under the provisions of this chapter, no compensation shall be paid or provided by the town with respect to off street parking spaces which are no longer required. (Ord. 8, Series 2013)