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D. INTEREST ON FEES <br /> Any public school impact fee funds on deposit and not immediately necessary for expenditure shall <br /> be invested as allowed in N.C. General Statute 159-30 for other public monies. All income derived shall <br /> be deposited in the applicable trust fund. <br /> E. REIMBURSEMENT OF FEES <br /> Any funds not expended within the time frame established in Section 5.C.5. shall be returned to <br /> the feepayer, or the land owner if the address of the feepayer provided to Orange County is not current, <br /> with interest at a rate not to exceed that being paid on public school impact fees deposited in accordance <br /> with Section 5.D. <br /> If the Schedule of Public School Impact Fees as contained in Section 3 is reduced, the difference <br /> between the old and new fees shall be returned to the feepayer, or the land owner if the address of the <br /> feepayer provided to Orange County is not current, with interest at a rate not to exceed that being paid <br /> on public school impact fees deposited in accordance with Section 5.D. If the Schedule of Public School <br /> Impact Fees as contained in Section 3 is increased, no additional fees shall be collected from new <br /> construction for which certificates of occupancy have been issued. <br /> Where an impact fee has been collected erroneously,or where an impact fee has been <br /> paid, and the feepayer subsequently files for and is granted an exception as permitted in <br /> Section 4, the fee shall be returned to the feepayer. <br /> Comment: No provision is made in the current ordinance for reimbursement of fees collected <br /> erroneously, or following payment of fees and approval of an exception. <br /> No amendment has been proposed through which to address the concerns of organizations such <br /> as Habitat for Humanity and the Orange Community Housing Corporation. Those agencies <br /> requested that impact fees be reimbursed for homes purchased by families earning less than sixty <br /> percent (60%) of mediian income. While such a provision would not apply to rental units, a <br /> request has be made to allow paymentof impact fees on an "installment"basis. <br /> Rather than adopt an ordinance amendment, a separate independent policy may be adopted by <br /> the Board of Commissioners to establish procedures for Habitat and similar agencies to request <br /> appropriations through the annual budget process to cover impact fees for affordable housing.The <br /> same policy could permit the Department of Social Services to seek funding through which to <br /> establish a "discretionary fund" to assist persons or families with special needs. Considerable <br /> attention should be given to the mechanics of how an "installment plan" would operate before <br /> incorporating any provisions into a policy. <br /> F. ANNUAL REPORT <br /> A report shall be made to the Board of County Commissioners each year showing where public <br /> school impact fees have been collected, what projects have been constructed with such fees, and what <br /> reimbursements have been made.The report shall also include an evaluation of this ordinance, including <br /> its effectiveness and enforcement, and the methods and data used to calculate the Schedule of Public <br /> School impact Fees contained in Section 3. <br /> The Board of County Commissioners shall review the report to determine if, within each benefit <br /> area,all areas of new construction are being benefitted by the fees.If the Board of County Commissioners <br /> determines that areas of new construction are not being benefitted, then it shall readjust the capital <br /> Impact Fee Ordinance 5 <br />