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new development computed using the applicable Schedule 1 or Schedule 2, and the <br />denominator of which is the maximum impact fee per service unit for the new development. <br />(3) The unit costs used to calculate offsets and credits shall not exceed those assumed for <br />the capital improvements included in the impact fees capital improvements plan for the <br />category of facility for which the impact fee is imposed. <br />(4) An offset or credit for an oversized improvement or facility shall not exceed the <br />incremental increase in the cost of the improvement or facility over the cost of an <br />improvement or facility needed to meet the greater of. (a) the city's minimum standards for <br />water or wastewater facilities or, (b) the needs of the property being developed including, <br />where development is being phased, all property and uses described in the subdivision <br />concept plan for the area being developed. <br />(5) An offset or credit shall not be given for an oversized facility which is not identified <br />within the capital improvements plan, unless the Director determines that the facility <br />supplies capacity to other new developments, and provisions for offsets or credits are <br />incorporated in an agreement for capital improvements under section 86.308. <br />(6) An offset or credit shall not be given a) when no impact fees for a new development can <br />be collected under this division, b) for any amount exceeding the total impact fees due for a <br />new development for that category of capital improvements, unless expressly agreed to by <br />the city in writing, or c) for any oversized facility where the city executes an oversize <br />reimbursement agreement with the property owner for the oversize cost. <br />(7) Offsets or credits for system facilities dedicated to and accepted by the city for a new <br />development prior to the effective date of this division and such developer -borne costs <br />eligible for an offset or credit shall be prorated among the total number of service units <br />within the development. <br />(8) The city may participate in the costs of a system facility to be dedicated to the city in <br />connection with a new development, including costs that exceed the amount of the impact <br />fees due for the development under Schedule 1 for that category of capital improvements, in <br />accordance with the city's subdivision regulations. The amount of any offset shall not <br />include the amount of the city's participation. <br />(9) No offset or credit shall exceed the impact fee to be collected from new development as <br />established in Section 86.298. <br />(c) Expiration of Offset or Credit. All Offsets or credits shall expire ten years from the date the <br />offset or credit was created. <br />(d) Application of Offset or Credit. An offset or credit associated with a new development shall <br />be applied to reduce the impact fee at the applicable time for collection of the fee, and thereafter <br />until the number of properties subject to offset or credit are credited. <br />Sec. 86.301. - Establishment of accounts. <br />10 <br />