A. Neighborhood park development fees shall be expended for the acquisition of land and the development of neighborhood parks only. The fees shall be expended or encumbered for such uses within six years of collection, unless there exists an extraordinary and compelling reason for fees to be held longer than six years. Such extraordinary or compelling reasons must be identified in written findings by the city council.

B. Neighborhood park development fees shall not be imposed to make up for deficiencies in existing neighborhood parks.

C. The fees shall not be used for maintenance or operation.

D. Regarding the expenditure of the fees, the term “development of neighborhood parks” includes but is not limited to planning, land acquisition, construction, engineering, architectural, permitting, financing, costs of equipment and goods, and administrative expenses, and any other similar expenses and costs reasonably related to the development of a neighborhood park.

E. In the event that bonds or similar debt instruments are issued for the advanced provision of city improvements for which the fees may be expended or to reimburse the city for such improvements, the fees may be used to pay debt service on such bonds or similar debt instruments to the extent that the facilities or improvements provided are consistent with the requirements of this section and are used to serve the development of neighborhood parks. (Ord. 603 § 4, 2003)