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ORDINANCE 2004-015 AN ORDINANCE OF INDIAN RIVER COUNTY, FLORIDA, AMENDING LAND DEVELOPMENT REGULATIONS (LDRS) CHAPTER 953, FAIR SHARE ROADWAY IMPROVEMENTS. BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA THAT THE INDIAN RIVER COUNTY LAND DEVELOPMENT REGULATIONS (LDRS) BE AMENDED AS FOLLOWS: 1. A portion of Chapter 953.05 Legislative Finding is hereby amended to read as follows: The Board of County Commissioners of Indian River County finds, determines, and declares that the report entitled "Update of the Fairshare Roadway Impact Ordinance, Final Report," dated September 1998, sets forth a reasonable methodology and analysis for determination of the impact of new development on the need for and costs of additional right-of-way, road construction, and road improvements in Indian River County. Furthermore, the Board of County Commissioners of Indian River County also finds, determines, and declares that the report entitled ' Update of the Traffic Impact Fee Ordinance — Cost Estimate Variables, Final Report," dated May, 2004 sets forth a reasonable methodology and analysis for determination of updated cost and credit components for use in the calculation of roadway impact fees in Indian River County. 2. Chapter 953.07(2)(b) Fee is hereby amended to read as follows: (b) The impact fees in the fee schedule have been reduced by fifteen percent thirty (30) percent for the period of time between September 1, 2004 and August 31 2005; twenty-five (25) percent for the period of time between September 1, 2005 and August 31, 2006; twenty (20) percent for the period of time between September 1, 2006 and August 31, 2007; and by fifteen (15) percent effective September 1, 2007 For applicants preparing an individual assessment pursuant to subsection (3) of this section, shall also be entitled to a fifteen (15) percent the fee reduction in effect at the time of the submittal of the individual assessment shall be applied to the fee amount determined through that individual assessment. 3. Chapter 953.11 Review of fee schedule is hereby amended to read as follows: • review of the "fair share roadway improvements fee ' schedule in section 953.07(2)(a), on any revisions to the population for the county, travel characteristics, road costs or inflation. Beginning in fiscal year 2006/07, and continuing in every third year thereafter, the county administrator or his designee shall analyze the cost components of the traffic impact fee formula and prepare a revised traffic impact fee schedule for consideration by the board of county commissioners. 4. Chapter 953.15(2) Indian River County Traffic Impact Fee payment schedule is hereby amended to read as follows: Coding: Words in strike through type are deletions from existing law. Words underlined are additions. 1 F:\Community Development \Users\MPO\TIF \COST ESTIMATE UPDATE 2003-04\TIF BCC Ordinance.doc