A. The current owner of property on which the neighborhood park development fee has been paid may receive a refund of such fee if the city fails to expend or encumber the fees within six years of collection, or such greater time as may be established in written findings by the city council documenting extraordinary or compelling reasons for extension beyond six years. (The term “current owner” excludes but is not limited to the following: an assignee of credits or later owner of the property.) In determining whether fees have been encumbered, the fees shall be considered encumbered on a first-in, first-out basis. The city shall notify potential claimants by first class mail deposited with the United States Postal Service at the last known address of each claimant.

B. The request for a refund must be submitted to the city manager in writing within one year of the date the right to claim a refund arises or within one year of the date notice is given, whichever is later. Any fees that are not expended within these time limitations, and for which no application for refund has been made as herein provided, shall be retained and expended on the development of neighborhood parks. Refunds of the fees under this subsection shall include any interest earned on the fees. (Ord. 603 § 4, 2003)