Municipal Law Alert, November 2012
Impact fees collected before January 1, 2003, must be used no later than December 31 of this year. If a municipality had an impact fee ordinance in effect prior to 2003 and it collected any funds in 2002 or previous years, it should be aware that it must either use those funds for the purpose for which they were collected, or any remaining funds must be refunded to the present owner of the property on which the impact fees were imposed.
Bakke Norman reported on this more fully in our May of 2012 Municipal Law Alert. See the article for further details on impact fee spending deadlines.