§ 18.2. Impact fees.

A.

There shall be an imposed impact fee of $1,000.00 for the following development:

1.

Each new single-family unit.

2.

Each new unit within a multifamily development.

3.

Each new mobile home unit.

4.

Each new business within a commercial development.

B.

There shall be an imposed impact fee of $450.00 for each unit of every student residence hall and each unit of every student dormitory.

C.

The fees collected pursuant to this section shall be spent solely on transportation and road expenses as provided for herein. Such amount must be expended within a reasonable period of time after the collection of such fees, not to exceed 13 years, or be returned to the present owners of the property. However, where impact fees are defined as a revenue/funding source for a project in the Town of St. Leo Comprehensive Plan-2025 Capital Improvements Element (CIE), then such funds shall be encumbered for the length of time delineated in the CIE or whichever is the greater time period.

D.

The impact fee shall be due and paid prior to the issuance of any certificate of occupancy.

(Ord. No. 11-01, § 2, 1-10-2011; Ord. No. 12-02, § 6, 2-13-2012)