In order to mitigate the impacts of development upon the employee housing capital facilities, a developer or property owner may be allowed to avoid full payment of the scheduled impact fee through one or a combination of the following events. These events shall include and be limited to the construction of deed restricted employee housing, the acquisition and deed restriction of existing residential housing units, or the dedication of real property to Pitkin County that will be used for the construction of employee housing. In no event shall the exercise of any of these three options cause a developer or property owner to exceed the impact fee schedule with the value of any construction, acquisition or dedication. The decision of whether or not to accept an offered alternative to full payment of the impact fee is a discretionary decision of the Board of County Commissioners. The Board of County Commissioners may accept or reject such offer based upon any reasonable consideration including, but not limited to any of the following: The type and location of the development to be mitigated; location of the property that is offered; the physical condition of the offered property; the ability to utilize the property in the employee housing program; the need for the type of property offered:
(a) Construction Requirements for Employee Housing Units
(b) Requirements for Converted/Deed Restricted Units
(c) Dedication of Real Property