(Amended by Ordinance Nos. 181322, 182652, 184756 and 188619, effective January 1, 2018.)
A. No later than every two (2) years as measured from initial enactment, the City shall undertake a review to determine the total SDCs assessed and collected by transportation district and the total SDCs expended and programmed by transportation district and project; to determine that sufficient money will be available to help fund the TSDC Project List identified capacity increasing facilities; to determine whether the adopted SDC Rate keeps pace with inflation; to determine whether the TSDC Project List should be modified; and to ensure that such facilities will not be overfunded by the SDC receipts.
B. In the event that during the review referred to above, it is determined an adjustment to the SDC is necessary for sufficient funding of the TSDC Project List improvements listed in the City Rate Study, North Macadam Overlay Rate Study, or the Innovation Quadrant Overlay Project Report or to ensure that such TSDC Project List improvements are not overfunded by the SDC, the City Council may propose and adopt appropriately adjusted SDCs.
C. The City Council may from time to time amend or adopt a new City Rate Study by resolution.