§ 42-103. Development agreements.

(a)

An applicant may enter into a development agreement with the city to establish recreation impact fees or to provide equivalent recreational facility improvements necessary to serve new buildings. A development agreement may include, but shall not be limited to, provisions which:

(1)

Permit the construction of recreation facility improvements in lieu of or with a credit against the recreation impact fee otherwise assessable under section 42-100 above;

(2)

Provide for a transfer of credits as provided for in section 42-104 to any successor in interest in land;

(3)

Allow a schedule and method of payment of impact fees in a manner different than provided in section 42-100.

(b)

Any agreement proposed by an applicant pursuant to this section shall be presented to and approved by the city commission prior to the issuance of a building permit. Any such agreement shall provide for execution by any mortgages, lien holders, or contract purchasers in addition to the landowner, and shall require the applicant to record such agreement in the public records of Orange County. The city commission shall approve such an agreement only if it finds that the agreement will apportion the burden of expenditure for new facilities in a just and equitable manner, consistent with applicable Florida Statutes and case law and this division.

(Code 1988, § 11.5-58; Ord. No. 98-87, § 8, 12-10-98)