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improvements are financially feasible . Furthermore, the COUNTY projects that future developments will contribute to the costs of the improvements. WHEREAS, the County finds that all conditions contained in FS 163 . 3180( 16) and Indian River County Code Chapter 910 have been met in order for DEVELOPER and County to enter into this proportionate fair share agreement. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the COUNTY and DEVELOPER agree as follows : 1 . The above recitals are affirmed as being true and correct and are thereby incorporated herein. 2 . The roadway improvements contemplated by this agreement are in the best interests of the citizens of Indian River County. The improvements will provide a benefit to the health, safety and welfare of the residents of the County by providing safe roads for the traveling public . 3 . In accordance with Exhibit B attached and incorporated by reference herein, the DEVELOPER shall pay to the County the sum of $32,670 . 58 as the DEVELOPER' S proportionate share of improvements to 27th Avenue between 4th Street and Oslo Road. This amount is inclusive of DEVELOPER' S Traffic Impact Fee credit. 4 . DEVELOPER shall pay to the County, the proportionate share amount in paragraph 3 above prior to approval of this agreement. Upon receipt of the funds, the funds shall be placed in the appropriate project account for the funding of the County scheduled improvements in the County Capital Improvement element. The County may use said funds as the 50% local match for funding under the FDOT Transportation Regional Incentive Program. 5 . In accordance with Exhibit B attached and incorporated by reference herein, the DEVELOPER shall pay to the County the DEVELOPER' S impact fees assessed pursuant to Title X, Code of Indian River County. DEVELOPER shall pay to the County, the water and sewer capacity charges and impact fee amount prior to the approval of this agreement. 6. Upon receipt of the payments specified in paragraphs 3 and 5 , the County shall schedule this agreement for consideration by the Board of County Commissioners . If this Proportionate Fair Share Agreement is not approved by the Board the County shall return the payments specified in paragraphs 3 and 5 to DEVELOPER within ten business days . Upon approval of this agreement, the County shall issue DEVELOPER a certificate of initial concurrency approval (form CCI5) for the F:\Attomey�BillWgreemenB\Proportionate Share\RALOC Liquori Propol2onate share agreement.doc