A. An applicant may request that a credit or credits for TrIFs be awarded for the total value of system improvements, including dedications of land, improvements and/or construction provided by the applicant. Credits will be given only if the land, improvements, and/or the facility constructed are for one or more of the system improvements listed in the rate study as the basis for calculating the TrIF.

B. The director shall determine if a request for credits meets the criteria in subsection (A) of this section, or under other applicable law.

C. Each request for a credit or credits shall include a legal description of the dedicated land, a detailed description of improvements or construction provided, and an adequate description of the development activity to which the credit will be applied.

D. For each request for a credit or credits, the director shall determine the value of the dedicated land, improvements, or construction on a case-by-case basis. In the event that the applicant disagrees with the director’s valuation, the applicant may submit an appraisal for the director’s consideration prepared by a state certified appraiser holding a MAI (Member of the American Institute of Appraisers) designation and/or a construction estimate prepared by a licensed engineer in good standing pursuant to Chapter 18.43 RCW, in the category for the property to be valued, and who does not have a fiduciary or personal interest in the property being appraised or valued.

E. The appraiser and/or licensed engineer shall be directed to determine the fair market value of the total value of the dedicated land, improvements, and/or construction provided by the applicant. The applicant shall pay for the actual costs for the appraisal or valuation.

F. After receiving and reviewing the appraisal or valuation, the director will determine the dollar amount of any credit, the basis for the credit, the legal description of the real property dedicated where applicable, and the adequate description of the system improvement to which the credit may be applied with issuance of the building permit. If the total value of any such dedication, improvement or construction cost exceeds the amount of the TrIF obligation, the developer will not be entitled to reimbursement of the difference.

G. No credit shall be given for project improvements or right-of-way dedications for direct access improvements to and/or within the subject development activity above and beyond what is proposed in the city of Lynnwood comprehensive plan transportation element 20-year list.

H. Any claim for credit must be made before payment of the TrIF and prior to the issuance of the building permit. The failure to timely file such a claim shall constitute a final bar to later request any such credit.

I. Determinations made by the director pursuant to this section shall be subject to the appeals procedures set forth in LMC 3.105.170. (Ord. 2850 § 3, 2010)