In calculating an impact fee, a local political subdivision or private entity may include:
Terms Used In Utah Code 11-36a-305
Contract: A legal written agreement that becomes binding when signed.
Impact fee: means a payment of money imposed upon new development activity as a condition of development approval to mitigate the impact of the new development on public infrastructure. See Utah Code 11-36a-102
Impact fee analysis: means the written analysis of each impact fee required by Section 11-36a-303. See Utah Code 11-36a-102
Private entity: means an entity in private ownership with at least 100 individual shareholders, customers, or connections, that is located in a first, second, third, or fourth class county and provides water to an applicant for development approval who is required to obtain water from the private entity either as a:
(a)
specific condition of development approval by a local political subdivision acting pursuant to a prior agreement, whether written or unwritten, with the private entity; or
(b)
functional condition of development approval because the private entity:
(i)
has no reasonably equivalent competition in the immediate market; and
(ii)
is the only realistic source of water for the applicant's development. See Utah Code 11-36a-102
System improvements: means :
(i)
existing public facilities that are:
(A)
identified in the impact fee analysis under Section 11-36a-304; and
(B)
designed to provide services to service areas within the community at large; and
(ii)
future public facilities identified in the impact fee analysis under Section 11-36a-304 that are intended to provide services to service areas within the community at large. See Utah Code 11-36a-102
(a)
the construction contract price;
(b)
the cost of acquiring land, improvements, materials, and fixtures;
(c)
for services provided for and directly related to the construction of the system improvements, the cost for planning and surveying, and engineering fees;
(d)
for a political subdivision, debt service charges, if the political subdivision might use impact fees as a revenue stream to pay the principal and interest on bonds, notes, or other obligations issued to finance the costs of the system improvements; and
(e)
one or more expenses for overhead.
(2)
In calculating an impact fee, each local political subdivision or private entity shall base amounts calculated under Subsection (1) on realistic estimates, and the assumptions underlying those estimates shall be disclosed in the impact fee analysis.
