A. A developer may request and shall receive a refund from either the city (for parks and transportation impact fees) or the school district (for school impact fees) when the developer does not proceed with the development activity for which impact fees were paid, and the developer shows that no impact has resulted.

B. In the event that impact fees are refunded for any reason, they shall be refunded by the city with respect to park and transportation fees and the school district with respect to school impact fees, and such fees shall be returned with interest earned to the owners as they appear of record with the Pierce County assessor at the time of the refund.

C. When the city seeks to terminate any or all impact fee requirements, all unexpended or unencumbered funds shall be refunded pursuant to this section. Upon the finding that any or all fee requirements are to be terminated, the city shall place notice of such termination and the availability of refunds in a newspaper of general circulation at least two times and shall notify all potential claimants by first class mail to the last known address of claimants. All funds available for refund shall be retained for a period of one year. At the end of one year, any remaining funds shall be retained by the city or, if applicable, the school district, but must be expended on projects on the adopted plans of the city or school district. This notice requirement shall not apply if there are no unexpended or unencumbered balances within an account or accounts being terminated. (Ord. 963 § 12, 2004; Ord. 828 § 16, 1999).