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A. Short Plats, Subdivisions, Binding Site Plans, Planned Developments. Upon application for a short plat, subdivision, binding site plan, planned development, or master planned resorts, including applications for alteration of any of the same, the owner of the property that is the subject of the application shall transfer water rights associated with the property to the City, subject to the provisions in Section 12.10.050. Alternatively, at the election of the City, the owner and City may enter into an agreement to transfer the water rights to the City at a later time. The purpose of this deferment provision is to accommodate (1) potential delays encountered in the process to transfer the water rights to the City, or (2) the continued use of the water rights associated with uses in existence at the time of the application and anticipated to continue until further development of the property that is the subject of the application. As part of the agreement, the City may require (a) the property owners to acquire adequate water rights and transfer the same to the City, and/or (b) the property owners to deposit an amount of money into the City water fund equal to the payment in lieu of transfer amount provided in Section 12.10.050, which sum is refundable to the extent of the successful transfer of the water rights.

B. Building Permit. Upon application for a building permit (except for a single-family residence) on an existing lot of record, the owner of the property shall transfer water rights consistent with subsection A of this section, or, alternatively, the City may forgo the water right transfer and require a payment in lieu of the water right as set forth in Section 12.10.050.

C. Previous Compliance. As part of the determination made pursuant to this section, the City shall take into consideration and provide appropriate credit for property that previously complied with the provisions of this chapter. [Ord. 2021-06 § 1, December 2021.]