R-2014-148 2014-12-08 RESOLUTION NO. 2014-148
A Resolution of the City Council of the City of Pearland, Texas,
adopting an Impact Fee Deferred Payment Policy.
WHEREAS, the City recognizes the important role that local businesses
play in providing services and creating jobs in the City; and
WHEREAS, the City desires to foster commercial expansions and
relocating existing businesses in the City by helping minimize the initial financial
costs associated with impact fees.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the City Council hereby adopts the Impact Fee Deferred
Payment Policy attached hereto as Exhibit "A".
PASSED, APPROVED, AND ADOPTED this 8th day of December, A.D., 2014.
TOM REID
MAYOR
ATTEST:
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APPROVED AS TO FORM:
DARRIN M. COKER
CITY ATTORNEY
Resolution No. R2014-148
Exhibit "A"
IMPACT FEE DEFERRED PAYMENT POLICY
Purpose
The City of Pearland has developed an Impact Fee Deferred Payment Policy in an effort
to foster commercial expansions and relocations by helping minimize the initial financial
costs associated with impact fees.
How it Works
This program enables qualifying businesses to defer payment of a portion of their impact
fees and make monthly installment payments for up to one year. Deferred payments
start one month following the date of building permit issuance.
Eligibility Requirements
• Applicant must be an existing business relocating or expanding an existing site
• The total impact fee to be deferred must be greater than $5000 and less than
$50,000, unless otherwise approved by City Council
• Eligible businesses must be served by a single meter and not by a master meter
serving multiple businesses
• Applicant must be current on their property taxes, and must not have been late
on their city utility bill more than 3 times during the preceding 12 month period
Terms
• Subject to a written agreement between City and applicant
• 50% of total impact fee paid upon execution of the agreement
• Deferred impact fees will be charged compounded interest at a rate of 5%
• Term of agreement not to exceed 12 months, unless otherwise approved by City
Council
• Payments to be made to City on a monthly basis until the impact fee and accrued
interest are paid in full
• Notice of default with a 30 day cure period provided; failure to cure will result in
water being disconnected